Florida Homeowners Could Win Big Tax Cuts—but Local Hospitals Stand To Lose Millions 

This fall, Florida voters will have a chance to weigh in on an amendment to the state constitution that significantly reduces property taxes. The “Save Our Homes from Excessive Property Taxes" amendment expands homestead exemptions and lowers assessment caps for non-homestead properties. The proposed tax cut could deliver some financial relief to Florida homeowners, who like many across the country are seeing higher property tax bills due to inflation, rising costs, and increases in home values. But cities, counties, and special taxing districts are raising the alarm, saying that a lack of funding from these taxes could lead to cuts to vital services. Local hospitals, in particular, may lose millions.What the legislation promisesThis plan was originally floated by Gov. Ron DeSantis, who called Florida's legislature into a special session to draft a proposal. The legislature then voted to place a version of it on the ballot as a constitutional amendment—but not before carving out school taxes so they wouldn't be covered by the expanded exemption.Now, according to Ballotopedia, the amendment “would expand the non-school property tax exemption from $25,000 to $150,000 in 2027 and $250...