DOWNTOWN TALLAHASSEE, FL — A state plan to expand Florida's homestead exemption could save homeowners money, but new local estimates show it could reduce Leon County's property tax revenue by tens of millions of dollars.
WATCH FULL REPORT BELOW:
If Florida voters approve a proposed homestead exemption expansion in November, homeowners could see significant savings on their tax bills — but local governments, schools, and services could take a major financial hit, according to new estimates from the Leon County Property Appraiser's Office.
The state's plan would expand the homestead exemption to $150,000 in 2027 and $250,000 in 2028.
The Leon County Property Appraiser's Office estimates the proposal could reduce property tax revenue for Leon County by about $44 million in the first year and another $26 million the following year. The office projects lower revenue for Leon County schools, the city of Tallahassee, EMS, and other local taxing authorities.
Leon County Property Appraiser Akin Akinyemi said the savings for homeowners would come with real consequences.
"That's going to be significant savings in terms of direct dollar that you see reductions when you get your tax bill, no doubt. But consequently, there's going to be significant impact on local government."
Akinyemi said property taxes account for about 56 percent of Leon County's revenue.
Not everyone sees the projected losses as a reason to oppose the plan. Neighbor Bill Schack said local government should look at its own spending before assuming services would need to be cut.
"I'm a big proponent that the government needs to save money. I think we need to find out where we can make cuts. Take a real good look at our every line on them. See where there's way to save money and find other ways to bring a revenue rather than leaning on residence by increasing taxes, I think this is a good plan."
Schack also spoke to the broader financial pressure many Floridians are feeling.
"Our citizens right now are hurting. They're all hurting, all paying more for almost everything and then we have to find a way to help our citizens and that's what the government used to do right now."
On Wednesday, Governor Ron DeSantis signed Senate Bill 4-F into law. The legislation changes how local governments benefit from rising property values and limits the amount of additional property tax revenue they can collect. But voters must first pass the exemption plan for the law to take effect.
Akinyemi said his office is not taking a position on the amendment. His role, he said, is to provide local data so voters can weigh the potential savings against the possible impact on local services.
This story was reported on-air by a journalist and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy.
Want to see more local news? Visit the WTXL ABC 27 Website.
Stay in touch with us anywhere, anytime.
