State economists: Homestead exemption increase could cost local governments nearly $12 billion a year

State economists: Homestead exemption increase could cost local governments nearly $12 billion a year

The Governor didn’t want to wait for an economic estimate before compelling lawmakers to put a property tax break on the ballot, but a little more than a week after the measure sailed through the Legislature, some numbers that could have informed the debate are finally here. Friday’s Revenue Estimating Conference revealed that if Florida voters opt to increase homestead exemptions to $150,000 in 2027 and $250,000 in 2028, with further increases …