South Florida’s counties and cities are confronting the possibility of the largest revenue shock in a generation as Florida voters prepare to decide a constitutional amendment that would dramatically expand the homestead property tax exemption.
The Legislature placed the measure on the Nov. 3 ballot through a joint resolution passed in June, known as HJR 1. If at least 60% of voters approve, the first $150,000 of assessed value on qualifying homestead properties would be exempt from non-school property taxes beginning Jan. 1, 2027. The exemption would rise to $250,000 in 2028, with inflation adjustments starting the following year. The ballot summary also references a future legislative schedule for fully eliminating non-school property taxes on homesteads.
Economists project the stakes for local budgets are enormous. Cities, counties and special districts statewide would lose about $5 billion in the 2027-28 fiscal year, with losses growing to nearly $12 billion annually by the fifth year, CBS Miami reported.
Local Officials Sound the Alarm
In Miami-Dade, budget officials estimate the amendment would strip $385.8 million from the county’s general fund in its first year — more than 10% of the fund — and nearly $697 million in the second year. Mayor Daniella Levine Cava has warned that parks, fire rescue, libraries and transportation would be among the services affected, according to The Miami Times.
Broward County opened its own budget deliberations under what officials describe as a cloud of property tax uncertainty, layered on top of rising public safety costs and major water and wastewater commitments, the Boca Post reported.
Policy analysts note the impact will vary by community depending on demographics and tax base composition. The Florida Policy Institute, which has published a breakdown of the ballot language and local fiscal impacts, warns the measure would significantly reduce taxable value growth in the years after passage. Because the exemption applies only to homesteaded properties, jurisdictions with high shares of owner-occupied homes stand to lose the most.
Supporters frame the amendment as relief for homeowners squeezed by years of rising assessments and insurance costs. Opponents, including environmental groups such as Audubon Florida, argue the revenue loss threatens land management, conservation and basic services.
For South Florida voters, the amendment will share the ballot with the governor’s race and local runoffs — making Nov. 3 a referendum not just on candidates, but on how the region pays for government itself.
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