Overview
- The Legislature placed a constitutional amendment on the Nov. 3 ballot that raises the homestead exemption to $150,000 in 2027 and $250,000 in 2028 and ties future increases to the Consumer Price Index.
- State economists reported on June 12 that if voters approve the measure local governments could see losses that start at about $5 billion in 2027-28 and approach nearly $12 billion annually by year five.
- The amendment preserves school levies from the higher exemption, cuts the non-homestead assessment cap to 5%, and limits local property tax spending to defined "core services" such as public safety, infrastructure, schools, debt service, and pensions.
- An activist group and two former mayors sued in Leon County, arguing the ballot title and summary are biased and asking a judge to force new language before ballots are finalized; the state attorney general must revise the summary if the court finds it defective.
- Local officials warn the shortfall could force cuts to police and fire staffing, higher user fees, weakened municipal bond ratings, and steep revenue losses in commuter and rural counties such as St. Lucie, while Tallahassee has not defined any state backstop or trust fund to offset gaps.