DeSantis supports tax proposal that could reduce Pinellas County revenue

Governor Ron DeSantis supported a property tax proposal, Amendment 3, which would increase the nonschool homestead tax exemption to $150,000 starting January 1, 2027, and $250,000 starting January 1, 2028. The measure would also lower the cap on annual increases in assessed values for non-homesteaded properties from 10% to 5%. State economists estimated that if passed, Amendment 3 would result in a $12 billion annual revenue reduction for local governments. Bob Gualtieri warned that the proposal lacks a viable plan for replacing lost revenue and could threaten public safety programs.

The proposal is designed to provide tax relief, which could help shield businesses and second-home owners from property tax spikes. However, critics argue that the substantial reduction in local government revenue could substantially reduce the operational capacity of counties and cities, potentially compromising the ability to maintain essential services.