The Brief
- Florida’s proposed property tax overhaul would raise the homestead exemption from $50,000 to $250,000, potentially reducing taxes for many homeowners but cutting local revenue.
- Hillsborough County could lose about $725 million, while Tampa alone may see a $55 million budget hit affecting public safety and services.
- Bay Area leaders warn the plan could severely impact police, fire, transit and schools, with debate set to begin in a special legislative session Monday.
TAMPA, Fla. – Gov. Ron DeSantis’ proposal for a sweeping property tax cut is roiling local governments, who are beginning to discuss how much revenue they would lose.
Possible homestead exemption changes
By the numbers:
A special session will begin Monday where lawmakers will consider raising the homestead exemption from $50,000 to $250,000 over the course of two years.
In 2027, the exemption would rise to $150,000, and in 2028, it would rise to $250,000.
The legislature would have to build a plan to increase it to $500,000.…