Florida homestead tax amendment could hit local revenues by $12 billion

A proposed Florida constitutional amendment would raise the homestead exemption to $150,000 in 2027 and $250,000 in 2028, with further increases tied to the Consumer Price Index. If approved by the required 60% of voters in the Nov. 3 referendum, the measure is projected to cut property‑tax revenue for counties by about $11.9 billion each year.

County officials warn the loss could jeopardize municipal bond repayment and core services. Pasco County tax collector Mike Fasano said he is "quite concerned about those bonds," while Lee County property appraiser Matt Caldwell cautioned that a phased implementation would be wiser. Critics note that the impact on general‑fund budgets could be severe—for example, Bay County’s general fund could see a 14.5% reduction. Florida’s chief financial officer Blaise Ingoglia argues the amendment would offset wasteful spending, whereas Jeff Brandes of the Florida Policy Project stresses that the loss to general‑fund revenue could limit local autonomy and shift power to Tallahassee.