Coral Springs could be staring down major budget shortfalls if Florida lawmakers move forward with proposals to phase out homestead property taxes over the next decade — cuts that could save homeowners about $2,000 but strip cities of a critical revenue source.
The dilemma is at the center of an intensifying property tax reform debate in Tallahassee, with cities across Broward County and Florida warning the savings for residents could come at a steep cost to local services.
However, cities such as Coral Springs and others in West Broward, which are primarily residential — meaning a large portion of their revenue comes from property taxes — are expressing concern over the phasing out of property taxes…