Holland Park in Palm Coast would have a hard time keeping its sheen through cutbacks forced by Amendment 3, if it were to pass. (© FlaglerLive)
Two economic development groups are opposing Amendment 3, raising the alarm that cutting revenue from property taxes could hurt economic efforts at the local level.
The Florida Economic Development Council and the Orlando Economic Partnership (OEP) both issued statements denouncing the November ballot measure.
“Amendment 3 would erode the revenue structure supporting Florida counties and municipalities resulting in uncertainty and disrupting the balance of the private-public model that prioritizes investments in transportation infrastructure, place-making, and good jobs with sustainable wages for Florida families,” said the Council’s Executive Director, Beth Cicchetti.
“The Florida Economic Development Council supports thoughtful property tax reform that provides meaningful relief to Florida homeowners while preserving the ability to attract capital and talent and sustain vibrant local economies. Amendment 3, as currently structured, does not strike that balance.”
The OEP, which works to recruit companies to Central Florida to grow the local economy, also warned it was “significantly concerned” with Amendment 3 because of the effects on public safety, transportation, economic growth and affordable housing, said the OEP’s Chief External Affairs Officer, Bob O’Malley.
“While tax reform may be needed at all levels of government, OEP believes the proper forum for policymaking of this magnitude should be through the Florida Legislature, not an amendment to the state’s constitution,” O’Malley said.
The OEP currently receives $793,453 annually from the Orange County government’s general fund.
The growing list of organizations against Amendment 3 includes the Florida Fire Chiefs’ Association, Florida Professional Firefighters, the Florida State Fraternal Order of Police, the Florida Sheriffs Association, 1000 Friends of Florida, the Florida Library Association and the League of Women Voters.
If approved by at least 60% of voters in November, Amendment 3 would lift homestead exemptions for those who own primary residences in the state by the end of this year to $150,000 in 2027 and $250,000 in 2028, and tie further increases in the exemption to the consumer price index.
School taxes would not be subject to the increased exemption limit, and would stay at $25,000.
Newer residents would qualify for a $50,000 exemption and would receive the full tax benefit five years after living in Florida.
“Owning your own home has been the American dream since our nation was founded 250 years ago. What better way to celebrate America’s 250th anniversary than a massive property tax cut through a $250,000 homestead exemption for Floridians,” said Senate President Ben Albritton.
“I’m grateful to Gov. (Ron) DeSantis for leading the conversation on cutting property taxes and putting forward this robust proposal for the consideration of Florida voters this Fall.”
Critics of Amendment 3 charged lawmakers placed the issue on the ballot without any economic study of the consequences and after a short three-day Special Session in June.
Earlier this Summer, Orange County Commissioners discussed their next steps if Amendment 3 passes. Officials said hypothetical cuts could lead to slower fire response times, LYNX bus cuts to International Drive, no more new sidewalks, the end of mosquito control sprayings and axing programs that help vulnerable groups.
“It’s going to be a challenge,” Orange County Mayor Jerry Demings said in July during a budget workshop. “We have an obligation to make sure that we talk to our community about the potential implications — not to put fear in them but to certainly sprinkle a dose of reality into what could happen if we lose some substantial funding.”
–Gabrielle Russon, Florida Politics
