Overview
- Researchers at Wichita State University, in a Florida League of Cities study released Dec. 15, assessed fiscal impacts as House tax-relief amendments move forward.
- Fully ending homestead property taxes would cut ad valorem collections by about 38% and shrink city general funds by roughly 14%, requiring millage rates to nearly double to hold services harmless.
- Large fixed-dollar homestead exemptions of $250,000 to $500,000 would still reduce municipal revenue by about 25% to 35% and demand 20% to 70% millage increases on remaining taxable property.
- Property taxes supply roughly 43% of municipal general revenue, while public safety consumes more than 56%, leaving cities especially vulnerable to cuts and rural communities with few replacement options.
- Four proposals—HJRs 201, 205, 209 and 211—cleared a House committee for possible ballot placement, with sponsors promoting homeowner relief and carve-outs for police and schools.