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County officials flag potential $10M hit from homestead tax initiative; trustees urged to plan
Summary
County staff told trustees a proposed initiative to eliminate ad valorem taxes on homesteaded property could cost the county more than $10 million in the first year and urged officials to prepare budget impact analyses.
During board comments on Dec. 9 the court clerk briefed trustees about a filed initiative petition (or potential initiative) that would eliminate ad valorem taxes on homesteaded properties. Staff said they will run impact numbers and that the initial three-year phase-in would create significant budget pressures.
A staff presentation said the county currently has roughly 108,000 off-data properties in its records and another 50,000 accounts that could be potential homestead filings; if the initiative or a similar measure were enacted the clerk estimated an over $10,000,000 hit to the county general fund in the first year under one modeled scenario.
Trustees discussed that this is both a county and state issue and that elected officials will need to evaluate ballot measures and budget adjustments in the coming sessions. Staff said they would produce impact analyses and return with more detailed numbers during the budget season.
The meeting adjourned after trustee comments and procedural motions. No formal board action on the initiative was taken at the Dec. 9 meeting.
