Florida Voters Pass Amendment 4; Tax Breaks For Solar Energy

Source: CBS

MIAMI (CBSMiami/AP) — Voters in Florida have approved a constitutional amendment that’ll provide property tax breaks for people who install solar panels on their homes.

Amendment 4 was placed on the ballot by a unanimous vote in both chambers of the Legislature. The increased value to a home from the installation of solar panels or other renewable energy devices can’t be considered when assessing homes to determine property taxes.

The amendment also removes Florida’s “tangible personal property tax,” which taxes solar equipment installed on properties. Without it, leasing solar systems will be a more profitable business in Florida. Right now, despite abundant sunshine, Florida lags nationally in solar power production. Solar arrays are getting cheaper but are still costly, so providing more access to leasing for all property owners will increase the sun power generated in the state.

Environmentalists and business interests supported the measure....



Read more: http://miami.cbslocal.com/2016/08/30/amendment-4-would-make-solar-cheaper-for-property-owners-2/