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Lee County staff warn state homestead changes could cut hundreds of millions from local budget
Summary
County staff told commissioners that House proposals to expand homestead exemptions could reduce Lee County's ad valorem revenue by roughly $83 million in year six and about $263 million once fully phased in, prompting discussion of replacement revenues and service protections.
County officials told Lee County commissioners during a strategic planning workshop that proposed state measures to widen homestead property tax exemptions could sharply reduce local ad valorem revenue and force major budget choices.
Pete (Finance Director) walked commissioners through a tranche analysis showing the county's first $25,000 homestead exemption tranche accounts for roughly $19 million in general-fund revenue, with the second and a hypothetical third tranche each near $17–18 million. Using the House's phased approach as an…
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