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City staff warns Amendment 3 could cut Oldsmar tax revenue by $1.3M–$2.2M
Summary
Assistant Administrative Services Director Garrett Zeloff told the council that a pending state property-tax amendment could reduce Oldsmar's revenues by roughly $1.3 million in the first affected year and about $2.2 million at full effect, prompting staff to prepare conservative FY27 estimates and revenue/expense contingency options.
Assistant Administrative Services Director Garrett Zeloff walked the council through how property tax revenue is allocated among multiple governments and how the city’s portion funds services such as fire rescue and the sheriff contract. Zeloff said ad valorem revenue is estimated at $8,295,200 for FY27 and presented a county projection showing a phased revenue reduction if Amendment 3 passes: about $1.3 million in the city’s fiscal year '28 and about $2.2 million at full effect in subsequent years.
Zeloff emphasized that the city prepared FY27 conservatively and urged council guidance on revenue and program priorities. Mayor and council asked staff to investigate both increased revenue sources (fees, assessments) and potential service reductions, and to continue public outreach. No formal revenue ordinance was proposed at the workshop; staff will present options at later meetings and during the formal budget hearing process.
