WEST PALM BEACH, Fla. — Bad weather report number one: the median price of a home here in Palm Beach County has dropped 6.8% from a year ago. Number two: the Florida Association of Realtors reported last week that home sales slumped 19%. Number three: a state constitutional amendment will be on the ballot January 29 (when Florida holds its presidential primary) that would phase out a 3% per-year Save Our Homes tax cap that voters approved in 1992.

Welcome to the Sunshine State! The unintended consequences of Save Our Homes, according to critics, is that existing homeowners are trapped in their houses because if they do manage to sell to either upsize or downsize, they face much higher taxes on a new home, even if that house is across the street.

If the amendment passes, the Save Our Homes 3% cap protection would be phased out in a few years (it may be kept until homes are sold), but if the homeowner stays in Florida and buys a new home, they lose the tax cap. There is a "super exemption" option, but that too has some negative points. If voters say NO to the amendment, they may get a Save My Homes Portability option put forth by Lee County Property Appraiser Ken Wilkinson. Wilkinson's "Save Our Homes, Part 2," would allow homeowners to carry over the same percentage of savings that the Save Our Homes 3% cap now provides.