property tax

Proposed property tax cuts being decided in November could severely impact community arts and cultural funding across Palm Beach County.

Amendment 3 would increase the homestead tax exemption for non-school taxes to $150,000 in 2027 and $250,000 in 2028.

The campaign to fund the measure raised $18 million through Sept. 25. All of that financial support came from the Florida Association of Realtors.

Amendment 3, if voters say "yes", would increase the homestead property tax exemption from $50,000 to $150,000 in 2027, and it would rise to $250,000 in 2028. The 10 percent cap on annual assessment increases for non-homestead properties would be lowered to 5 percent.

Seven weeks before the Nov. 3 election, Florida organizations are taking stands on Amendment 3, which, if approved by 60 % of the voters, would substantially reduce homestead property taxes while simultaneously reducing revenues for local government services.

The Sierra Club has become the latest organization to announce opposition to Amendment 3 on the November ballot, saying that if passed it “will effectively gut the buckets of local governments in Florida.”

In the first year of Amendment 3 being in effect, fire and ambulance services in the Lower Keys would have an estimated shortfall of $430,287. The following year it would rise to $606,572, according to a presentation given by the country's budget director.

The new summary removes language that a circuit judge called "misleading and inaccurate" in favor of more neutral language.

In a live radio interview, City Commissioner Miguel Gabela said trash collection fees may be on the rise if Florida's homestead tax amendment passes in November.

On "The Florida Roundup," Marion County Sheriff Billy Woods talked about how tax cuts could potentially affect public safety across the state.

Public safety groups are warning voters about the property tax cut amendment that will appear on ballots this November.

Between inflation, rising car and property insurance premiums and the costs of contending with extreme weather, many Florida homeowners are feeling financially squeezed. As an economist living in Florida, I’ve spent the past decade teaching about the economics of government and public finance, analyzing and breaking down policy, policy proposals and their impacts on the Sunshine State.