Property tax proposal could cost Florida locals $11B

(The Center Square) – Florida counties could lose over $11 billion per year under the property tax relief proposal going before voters in November, according to a bill analysis.

The constitutional amendment would provide a $150,000 exemption the first year and a $250,000 exemption the next year. If approved by voters, the recurring impact on property tax revenue is projected to be $11.86 billion a year.

Whether local municipalities can handle a financial adjustment of that magnitude remains debated.

Florida’s Chief Financial Officer Blaise Ingoglia, who is supportive of the property tax relief proposal, says he has uncovered $3.6 billion in excessive, wasteful local government spending and expects to find more.

This week, Ingoglia said he found Osceola County’s budget increased by over 102% since fiscal year 2019-2020.

“A budget increase of this magnitude for Osceola County is further proof that local governments have not been good stewards of taxpayer dollars. Local officials would rather keep thei...