The voters have decided an amendment meant to help save homeowners money has passed. Here in Wakulla County, more than 66% of neighbors voted in favor of Amendment 3.
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Wakulla County approves Amendment 3, raising Florida homestead exemption as county eyes budget cutsAmendment 3 raises the homestead exemption for Florida residents' non-school property taxes up to $150,000 in 2027, then $250,000 by 2028.
Neighbor Charles Baisden, who now qualifies for the homestead exemption, says he's excited to see a smaller tax bill.
"We're hoping that as this amendment goes into effect and we see savings in 2027 and 2028 really, we should see additional benefit. That number saving $600 year over year, I'm hoping that number gets bigger," Baisden said.
Baisden says the exemption could help current homeowners put money back into the economy rather than toward the yearly tax bill.
"My perspective on it is homeowners can realize the opportunity cost of not spending that money on taxes but can put that back into the economy in other ways. Make larger purchases, invest in their home, invest in their properties, hopefully upgrade vehicles, things that they didn't have access to before," Baisden said.
The non-school property taxes go to support the general fund. This exemption could mean a shortfall of $6.5-7 million in that fund which was outlined in a contingency plan the county released in August.
Neighborhood Reporter Serena Davanzo requested an interview with the county to ask what their next steps would be now that it's passed, and they said they are not ready for that right now.
In previous coverage of their plan, David Edwards told ABC27 they would begin laying the groundwork for what is needed so they can be in full implementation before the next fiscal year. He also said that the county would have to go back to putting the funds into mandated services like public safety.
"The plan was built around the direction given from the legislature that said that we, the counties need to go back to more mandated services, put their funds, their their their funds toward mandated services and not necessarily to the authorized services," Edwards said.
Some of the potential cuts proposed in the plan that was released in August include funding for extension and 4-H, nonprofit funding, animal control, and reducing parks and recreation. The plan also proposed raising other taxes and moving general fund expenses elsewhere, such as a new EMS fee.
"Everything takes a big hit and that's what the plan does and it projects the future that we can continue to offer what services are there," Edwards said.
This exemption doesn't just include current homeowners but also future homebuyers, as long as you're a Florida resident by December 31, 2026. Non-Florida residents will get the increased exemption beginning the fifth year they've been on the current exemption.
Neighbor Colton McCulley, who plans to buy his first home, says that having that exemption can help with cheaper monthly payments and put the savings back into his family.
"Everything's expensive right now. Kids always need clothes. Groceries are through the roof. Gas isn't cheap. Truck payments aren't cheap. I mean, in any in every aspect, you know, you be able to save money through that with that, and then buy nicer things for your children. Have be able to go on better vacations, or you know, just give the kids a better life. You know, one they deserve," McCulley said.
Amendment 3 goes into effect January 1, 2027. There are no details as to what changes will be implemented or when they will start.
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