Florida could lose billions in funding for infrastructure, parks

Florida voters will vote on Amendment 3 in November, which would alter how much certain homeowners pay in property taxes. Currently, the maximum homestead exemption is $51,411, meaning that homeowners can subtract up to that amount from the value of their property for tax purposes. The amendment would raise the exemption for non-school property taxes to $150,000 in 2027 and $250,000 in 2028.

If passed, the state would lose about $11.86 billion in property tax revenue. Miami-Dade would lose $445 million annually by fiscal year 2028-29.

“NBC6 investigative reporter Sasha Jones reported that, at the municipal level, that revenue reduction could affect funding for public safety services, parks, infrastructure, and community programs,” reports NBC6. According to an NBC poll, of those who oppose the amendment, 55% do so because of potential cuts to local services. Of the voters who supported the measure, 49% said property taxes were too high.