Ballot roulette: Florida voters pick property tax break over local services

With the cost of living on the ballot, Florida voters approved a major tax break for homeowners.The amendment to increase the Sunshine State’s homestead exemption won the 60% it needed on election night. Voters weren’t swayed by warnings that the higher exemption would devastate municipal coffers and services.The ballot measure was given little chance of winning. But current economic conditions proved an insurmountable obstacle for the argument against the measure. Unofficial returns showed it finishing with 62% of the vote. The changes take effect in phases starting in 2027. “An incredible victory for Florida homeowners!” the Florida Republican Party wrote on social media. “More money stays in your pocket.” Neil Schiller, managing partner at Government Law Group, told HousingWire TBD the result will change how cities weigh development. “Projects that generate jobs, economic activity, and alternative tax revenues may become more attractive, while developments that require significant public services and infrastructure will face greater financial scrutiny,” Schiller said. “Amendment 3 may be remembered as the moment Florida cities had to fundamentally reinvent how they do business.”...