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City CFO warns proposed Florida property‑tax reforms could cut Boca Raton revenue by tens of millions
Summary
Deputy city manager/CFO Jim Zervos briefed the council on four state proposals that would reduce or eliminate non‑school ad valorem taxes on homesteaded property; the broadest option could reduce city general fund revenue by about $58 million (≈32% of non‑public‑safety budget), Zervos said, and staff outlined mitigation options including fee increases and millage shifts.
Deputy City Manager and CFO Jim Zervos told the Boca Raton City Council Dec. 16 that several pending Florida bills could substantially reduce local ad valorem revenue and materially affect city services and financing.
Zervos reviewed four bills under consideration at the state level. The broadest proposal (HJR 201) would eliminate non‑school ad valorem taxes on homesteaded property; staff estimated an immediate $58 million annual revenue loss for Boca Raton, roughly 22 percent of total general fund revenue and about a 32 percent reduction of the non‑public‑safety portion of the budget after…
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