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TAMPA, Fla. - With Amendment 5, Floridians are also going to make a decision that could impact their property taxes for decades to come.

Homestead exemption gives homeowners a break on the amount of property that is subject to property taxes. For instance, a $300,000 house that is subject to the homestead exemption would only pay property taxes on $250,000 dollars of home value.

Amendment 5 would tie half of that exemption to the rate of inflation. The goal is to keep giving homeowners the same amount of relief despite inflation.

"Obviously, because $50,000 exemption, say, in 2009 is not worth the $50,000 today," explained Hillsborough County's Property Appraiser Bon Henriquez. "So, the concept is that if you were to index the second $25,000 of your homestead exemption, then you can keep pace with inflation in any given year. So, over the course of time, it would grow commensurate with the cost of living."

The portion of the exemption that pays for local schools would not be impacted.

Those who would say this isn't a good idea might argue that decreasing the amount of money taken in would further tap local budgets.

Click here to read the full amendment.

Amendments 1, 2, 5 and 6 were put on the ballot by the Florida Legislature. Amendments 3 and 4 are citizen initiatives.