What property tax cut could cost Fort Lauderdale
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Fort Lauderdale would not be able to host its free Fourth of July fireworks or Memorial Day celebrations if voters approve the state's tax reform proposal, Mayor Dean Trantalis warns.
Why it matters: These annual special events are among the city services on the chopping block if the property tax amendment passes this November.
Driving the news: The constitutional amendment backed by Gov. Ron DeSantis would increase the homestead exemption to $150,000 in 2027 and $250,000 in 2028, costing local governments billions.
By the numbers: Fort Lauderdale would lose $17 million next year and more than $27 million in 2028, the Sun Sentinel reported.
- Broward County is estimated to lose $250 million in 2027 and $452 million in 2028, according to county staff.
Threat level: Trantalis says that the consequences would be significant for residents.
- The city would have to shut down its parks department and significantly reduce its public works and code enforcement departments, he tells Axios.
- It also would not be able to regulate vacation rentals, like Airbnbs, or provide any business or affordable housing incentives, he says.
- Rental prices could rise if taxes on non-homestead properties get hiked to make up for lost revenue.
What they're saying: "They want to drain the resources of the city and counties, but they still want us to provide the same level of service," Trantalis says.
- "I think that anyone who buys into this false hope is going to suffer in the end," he adds.
The other side: DeSantis has argued that taxpayers have been forced to pay more and more for the same level of services that local governments offered when property taxes were much lower.
- "Focusing on homestead, I think, is a way to show, 'Look, we think that there is too much revenue going from taxpayers to these local governments,'" DeSantis said.
- "A lot of people need relief," he added.
What's next: If the constitutional amendment receives at least 60% of the vote in November, the tax changes would take effect on Jan. 1, 2027.