Jacksonville, Fl — Jacksonville Mayor Donna Deegan says the city could lose $300 million or more under the Governor’s proposed property tax cut plan.
She says the city already has the lowest city property tax millage rate of all major Florida metro areas.
“You could be looking at closing all sorts of amenities for people. I don’t want to get too deeply into that yet because I don’t know what we’re going to come out with. But certainly we’re going through exercises of what are the possible options.”, Deegan told Jacksonville’s Morning News.
She says the city already has the lowest city property tax millage rate of all major Florida metro areas.
Deegan says she’s worried about the speed at which lawmakers are moving on the governor’s proposal.
Gov. Ron DeSantis’ property tax overhaul aims to deliver relief to homeowners.
DeSantis’ office noted that the Save Our Homes plan includes five major components, which are as follows:
Homestead Exemptions: Exempts the first $250,000 of a homestead’s value from taxation, though it also requires a schedule to eventually phase them out in full.
Local Services: Requires local governments to use remaining property taxes solely for core public needs, such as public safety, education, infrastructure and natural resources.
Business Taxes: Limits future property tax assessments on businesses and creates a more stable tax environment for local businesses.
Residency Requirements: Requires anyone who establishes Florida residency after Jan. 1, 2027, to maintain Florida residency for up to five years before receiving the increased homestead exemption.
Trust Fund: Establishes a state trust fund to provide grants to local governments to help with the continuation of core local services.
Approval by no less than 60% of lawmakers would send a proposed constitutional amendment to the November statewide ballot. And if at least 60% of Florida voters say ‘yes,’ the tax overhaul would be adopted.
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