Florida’s new property tax cuts could defund the police, fire fighters and EMS in small towns, threatening ‘rural dark ages,’ former GOP lawmaker says
Florida’s new property tax cuts could defund the police, fire fighters and EMS in small towns, threatening ‘rural dark ages,’ former GOP lawmaker says
The blue tsunami that swept across the country on election day petered out in Florida, where voters continued to elected Republicans to statewide offices and approved a massive cut to their property tax bills.
Amendment 3 expands the so-called homestead exemption, shielding more of a home’s assessed value from taxation. It will nearly triple from $51,400 currently to $150,000 in 2027 and increase again to $250,000 in 2028.
It also lowers the cap on annual assessments on rental and commercial properties from a 10% hike to 5%. The amendment doesn’t apply to school-related property taxes but creates a path for abolishing non-school property taxes completely.
State economists have projected that local governments will lose nearly $5 billion in the first year and nearly $12 billion a year once the exemption is fully phased in.
But while Amendment 3 requires remaining tax revenue go toward public safety and other local services, it doesn’t mandate that police, fire and emergency medical services be funded first or that they receive a minimum level of funding.
Proponents argued that lowering property tax bills would provide relief as higher inflation worsens the cost of living. But sheriffs, police chiefs, fire chiefs and local government officials came out against the plan as they face a steep hit to their budgets.
To be sure, local governments can raise revenue in other ways, such sales taxes and fees. But they can crash in bad economic times and are unlikely to completely offset losses from........
