Florida property tax amendment could cut $11 billion from local budgets

A constitutional amendment appearing on Florida's November ballot would raise the homestead exemption to $150,000 in 2027 and $250,000 in 2028. State officials say the change could reduce property‑tax revenue by an estimated $11.86 billion annually, a loss that would fall primarily on county and city general funds.

Supporters argue the cut will ease homeowners' costs, but a calculator created by tax expert Casey Vockell shows the average savings for a $500,000 house would be under $209 per month by 2028. Critics, including CFO Blaise Ingoglia and the Florida Policy Project, warn that the revenue loss could force hiring freezes, postpone infrastructure projects, and diminish essential services. They note that many local budgets rely heavily on property‑tax dollars, with some counties potentially seeing a double‑digit drop in their general‑fund finances.

The amendment requires a 60 % supermajority to pass, and the debate centers on whether the measure will deliver meaningful relief to taxpayers or shift fiscal responsibility from local governments to the state.