JACKSONVILLE, Fla. — County leaders across the state are starting to get a picture of how the Governor’s proposed property tax reduction plan would impact local revenues.
The new analysis by the Florida Association of Counties projects $6.3 billion in lost revenues for counties by late 2028.
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Meanwhile, Duval County is facing an almost $400 million budget hole.
According to that analysis, the nine counties in our Florida coverage area would lose a combined $550 million in revenue by the 2028/2029 fiscal year.
On the low end, Union County stands to lose $902,000 in revenue.
Duval alone would account for more than 70 percent of those lost revenues, with the proposed $250,000 homestead exemption and new cap on annual increases for non-homesteaded properties costing the county $386.9 million.
“That’s somewhere around 10 to 15 percent of our budget,” said Councilmember Ron Salem (R-Group 2 At-Large).
Salem argued if the legislature places the proposal on the November ballot in its current form, city leaders need to prepare by starting to cut now, even though initial revenue impacts wouldn’t be felt in this upcoming budget year.
“I think if we don’t begin preparing, assuming this thing passes during this budget, I think we’re committing a crime,” said Salem.
“We’re in a pretty scary spot if this goes through the way it is,” said Councilmember Jimmy Pelsuo (D-District 7).
Peluso argued that money would have to come from somewhere, or else services for the young and elderly, libraries, parks and more would likely have to be severely cut or even eliminated.
“And also, what does that shift mean? Who takes that hit?” said Peluso. ”You know, we got a lot of renters that are getting nothing out of this, throw in a new sales tax or something like that, now those renters are paying even more. They’ll never be able to buy a home.”
But Salem argued city leaders should avoid seeking new revenue sources through new taxes or fees.
“I think people are fed up with the size of our government,” said Salem.
State lawmakers return to take up the Governor’s property tax plan starting on Monday.
Whatever they ultimately approve will go before voters in November and needs 60 percent support to pass.
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