Council debates how Amendment 3 could affect Key Biscayne's finances
Staff estimated Amendment 3 could reduce village revenue by about $1 million in the first year, while council members offered lower estimates; staff emphasized uncertainty and the need to monitor county-level budget decisions.
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Benjamin summarized statewide draft estimates and the village's modeled effects if Amendment 3 passes, stating an initial estimated loss of about $1,000,000 for Key Biscayne in FY2027 and larger losses in later years. He also provided per-property estimates of homeowner savings under the proposed exemptions. "In terms of the impact to the village of Key Biscayne... about 1000000 dollar impact," Benjamin said.
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