Florida voters face $250,000 tax cut proposal on ballot

Florida voters will decide on November 3 whether to raise the non-school homestead tax exemption on primary residences to $250,000 by 2028. Amendment 3 is currently on the ballot, and it requires at least 60 percent of the vote to pass. If approved, the exemption would jump to $150,000 in 2027 before reaching the $250,000 mark the following year. From 2029 onward, the amount would be adjusted for inflation.

Gov. Ron DeSantis and several Republican candidates spent Monday at St. Petersburg College promoting the measure. They argue the change will make local governments more efficient. DeSantis pointed out that total property tax revenue for local governments was $33 billion in 2019. He noted that figure has grown to $62 billion this year. He stated that homestead revenue represents only 30 to 35 percent of total property tax revenue. DeSantis claimed that even if all homestead revenue disappeared, local governments would still have more money than they did in 2019.

Wilton Simpson, the Commissioner of Agriculture who is running for re-election, joined the push for the amendment. Simpson said he believes property taxes should eventually be zero. He argued that homeowners feel like they are renting from the government as long as they pay these taxes. Simpson told the crowd that failing to pay property taxes for four or five years shows people they do not truly own their homes.

Ashley Moody, a candidate for U.S. Senate, also supported the amendment. She said the goal is to keep government out of people's lives and out of their pockets. The group Florida TaxWatch, however, estimates the amendment would cut city and county revenues by more than $45 billion over five years. The agency projects Pinellas County would lose $714 million in revenue over the next two years. Sarasota County would see a reduction of $250 million, while Hillsborough County could lose nearly $1 billion.

Local government officials warn that these revenue losses will impact the services they provide. They say they may be forced to raise other fees to make up for the lost money. The amendment includes a provision that limits how remaining property tax revenue can be used. DeSantis said those funds could only go to core services like police, fire, and water.

The amendment also aims to increase efficiency in local government operations. Supporters say the current tax structure allows for unnecessary spending. Opponents point to the large projected revenue drops in major counties. The vote will determine whether the exemption increases to the new levels or stays at current rates.