A proposed expansion of Florida’s homestead exemption could lower tax bills for homeowners, but critics fear renters may end up paying the price if local governments raise rates to offset lost revenue.
A recent analysis from the Florida Policy Institute estimates Martin County alone could lose more than $67 million if the proposed homestead expansion passes. Statewide, that same study estimates local governments could lose nearly $4.8 billion if voters approve the amendment in November.
At Habitat for Humanity of Martin County, Executive Director Mike Readling says he’s seeing an uptick in people seeking help with rent and bills, 95% of whom he says are renters…