Florida’s new property tax cuts could defund the police, fire fighters and EMS in small towns, threatening ‘rural dark ages,’ former GOP lawmaker says

The blue tsunami that swept across the country on election day petered out in Florida, where voters continued to elected Republicans to statewide offices and approved a massive cut to their property tax bills. Amendment 3 expands the so-called homestead exemption, shielding more of a home’s assessed value from taxation. It will nearly triple from $51,400 currently to $150,000 in 2027 and increase again to $250,000 in 2028. It also lowers the cap on annual assessments on rental and commercial properties from a 10% hike to 5%.

Source: Fortune Crypto