Legislators Introduce SB-1018 to Raise Homestead Exemption Amid Rising Home Costs, But What Will Replace The Lost Revenue
Fla. News Network — In response to the rapid rise in home costs and the burden of property taxes, Florida legislators have introduced Sen. Bill 1018 (SB-1018), which proposes to raise the homestead exemption from $25,000 to $75,000. This significant increase aims to provide much-needed tax relief to homeowners across the state. However, the potential consequences of this bill on essential public services, such as law enforcement, fire protection, EMS, education, and public works, have raised concerns among experts and officials.…