Overview

• Lawmakers opened informational hearings in Tallahassee, hearing from state economists and revenue officials on how changes could affect schools, homesteads and fiscally constrained counties.
• Amy Baker reported that about 4.65 million homesteads benefit from Save Our Homes or portability, with reductions ranging from under $17,000 in Union County to roughly $580,000 in Monroe County.
• Florida Department of Revenue data showed public schools receive roughly 47% of their funding from property taxes, underscoring the challenge of replacing local revenue.
• Committee leaders Vicki Lopez and Toby Overdorf said smaller municipalities may need to consider consolidating services or even folding into counties if tax collections shrink.
• Options under discussion include raising the homestead exemption up to $500,000 for non-school levies, tightening assessment rules, banning homestead foreclosures for unpaid taxes, and exploring transaction or tourism taxes, with recommendations expected by November or December ahead of potential 2026 ballot language.