The city of Hollywood hosted a public meeting to give residents an opportunity to ask questions and learn more about Amendment 3, a ballot proposal aimed at drastically slashing property taxes.
Under Amendment 3, the taxable value of a primary homestead property would drop by $150,000 in 2027 and by $250,000 in 2028. Following those reductions, the state Legislature would decide whether to eliminate property taxes on primary residences altogether.
City officials warn the proposal could significantly impact local municipal budgets. Hollywood stands to lose $34 million in revenue with the initial cut alone…