Amendment Three passed in Florida

Florida's property market has been given a boost. Amendment Three was passed in the US presidential elections last week.

Amendment Three is set to benefit owners of property in Florida who fit renewable energy devices or storm proofing features to their homes, reports The Move Channel.

Such owners will not face higher property taxes , despite the resultant increase in the value of their home. The move is expected to encourage existing homeowners to fit features such as hurricane proof shutters and solar panels to their homes. Potential property investors may also be attracted by the new regulations.

Amendment Three narrowly passed the 60 per cent support threshold needed to become law. The amendment received 60.5 per cent of the votes, which would normally require a recount under state law.

However, officials decided to waive the mandatory recount on this occasion.

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