Amendment 3 would cut property taxes for homesteaded homeowners in November. It would also, sooner or later, cost them somewhere else.
That was the message Matt Singer of the Florida League of Cities brought to Manasota League of Cities members on July 9, as the statewide organization campaigns against the measure.
“One person’s tax exemption is another person’s tax increase,” Singer said.
The Legislature placed the amendment, titled “Save Our Homes from Excessive Property Taxes,” on the Nov. 3 ballot. It needs 60% approval to take effect. If it passes, the homestead exemption would rise from $50,000 to $150,000 on Jan. 1, 2027, and to $250,000 a year later. The cap on annual assessment increases for non-homesteaded properties would drop from 10% to 5%.
The local cost would be steep. Manatee County could lose nearly $68 million in property tax revenue in the 2027-28 fiscal year and $127.5 million in 2028-29, according to the state Revenue Estimating Conference. Bradenton would lose $5.2 million in 2027-28 and Palmetto $1.39 million, the conference estimates. The three Anna Maria Island cities and the Manatee County portion of Longboat Key stand to lose nearly $647,000 combined.
Statewide, 85 of Florida’s 411 cities, towns and villages could not fund public safety at current levels under a $250,000 exemption, according to a League of Cities report.
Property taxes are the main source of money for law enforcement, fire service, schools, roads, infrastructure and water management districts, Singer said. Lawmakers discussed a state trust fund to replace the lost revenue, he said, but it did not make it into the amendment.
That leaves cities three options, he said: raise millage rates and fees, cut services, or both.
Park and library hours could shrink. Emergency response times could slow. Roadwork could be postponed and equipment upgrades delayed.
Homeowners would not be spared, Singer said. He predicted higher rents, higher property taxes and fees for local businesses that would be passed on to customers, and pressure to raise the state sales tax.
“We’re going to be in a tough position,” he said.
The amendment would also shift political power from city halls to Tallahassee, where lawmakers have been critical of local spending, according to the League of Cities report.