A new report from the Florida Policy Institute finds Amendment 3 could put hundreds of millions of dollars in public hospital funding at risk.
FPI estimates Florida’s public hospital districts and health systems could lose $323 million over the next three years if voters approve the proposed constitutional amendment in 2026.
The ballot proposal would raise Florida's homestead exemption to $150,000 in 2027 and to $250,000 in 2028 — and could eventually eliminate non-school property taxes on homesteads.
According to FPI’s report, the Healthcare District of Palm Beach County would lose $66.5 million in property tax revenue.
North Broward Hospital District could lose more than $100 million in property tax revenue, while South Broward Hospital District could lose about $2.2 million.
In Miami-Dade County, Jackson Health System could lose an estimated $63.7 million in property tax revenue.
READ MORE: Florida, hard-hit by Obamacare drop-off, feels the squeeze of rising healthcare costs
FPI says the losses could mean less access to care, longer wait times, fewer staff and reduced funding for programs serving uninsured and low-income Floridians.
“Our South Florida healthcare systems are already under enormous strain from federal cuts to Medicaid and the ACA Marketplace,” said Dr. Dr. Olveen Carrasquillo with Jackson Memorial Hospital in Miami in a press release.
“Another major financial hit like Amendment 3 would be untenable for my patients and our community.”
