Florida voters will decide in November on a referendum to raise the homestead exemption as part of a proposed property tax reform. Sean Kelly of Lantana said he supports the referendum even though he does not own a home, believing it will bring accountability back where it should be. Kelly said the potential savings are meaningful, especially given other rising costs, and that saving $2,000 or $3,000 could help offset increases in home insurance.
Cities and counties say the reduced revenue will strain budgets and leave them looking for other revenue streams through fees and other taxes. Former state Sen. Jeff Brandes said local governments will push back, predicting a large organization campaign to educate voters on the issue of ad valorem taxation and reduction of services or increased millage.
Kelly said he does not believe local governments would suffer, arguing they need to look at how they spend their budget. He said he thinks municipalities will look to limit spending and put taxpayers more in control.