Overview
- The Legislature placed a constitutional amendment on the November 3 ballot that would increase Florida’s homestead exemption from $50,000 to $150,000 in 2027 and to $250,000 in 2028 if voters approve it.
- Local property appraisers released county estimates showing steep revenue losses, with Palm Beach County projecting roughly $320–$324 million by full phase‑in and Leon County forecasting about $43.6 million lost in year one and $26.1 million in year two to its EMS taxing unit.
- County leaders told commissioners they may have to cut non‑mandated services such as libraries, parks and some emergency functions or make up shortfalls by raising millage rates on non‑homesteaded properties, which would shift costs to renters and businesses.
- Officials and property appraisers emphasized that the $150,000 and $250,000 figures refer to portions of assessed value exempted, not a home’s market value, and counties plan tools like an online calculator to show voters how their bills could change.
- Court challenges over the amendment’s ballot language and a proposed residency rule remain active, and state fiscal analyses warn of multibillion‑dollar statewide losses that could affect municipal budgets, bond payments and long‑term local fiscal flexibility.