A proposed piece of legislation currently pending in Tallahassee regarding increasing the amount of Homestead Exemptions in the state, has the concern of the Seminole County Commission, who say it’s ultimately find their budget that could take a hit if it passes.
SJR 1174 would increase the amount of the Homestead Exemptions from $50,000 to $75,000. Seminole County Property Appraiser David Johnson told the commission during their mid year financial update that the increase could cost a $1.9 billion dollar loss in taxable value with a $9.3 million dollar loss to the county’s incoming tax revenues. The municipalities would also take respective $4.5 million dollar loss, with Oviedo shouldering a $1 million dollar loss in their own tax revenue total.
County officials believe that this could cost some municipalities to raise fees and taxes, while other potential costs get passed on to businesses and renters. State lawmakers believe that it’s deserved opportunity for tax cuts for residents.
“There is a recognition that this is going to be a tax shift, a transference, a shell game, whatever you want to call it, not only from them to us on the local level but also from homeowners to renters and businesses.” said Commissioner Lee Constantine.
The legislative update received by the commission later in the day anticipated the bill could sputter in the state senate, but could also be taken up by the state Constitution Revision Commission who could bypass the legislature to get it on the ballot.
The Seminole County Commission also continued to track legislation that would encroach on it’s Home Rule powers and a bill that would allow cell phone companies unhindered access to public poles and towers.