Property appraiser warns Amendment 3 and homestead increases could erode county tax base

Property Appraiser Mickey Bandy gave a detailed briefing on the county tax roll and how recent and proposed state law changes could alter local revenue. He showed that just value in the county approaches $12 billion while taxable value is roughly $5.1 billion, and he highlighted large personal‑property increases linked to utilities and energy projects. He also explained how homestead caps and portability work and why a constitutional amendment under consideration could sharply reduce taxable value for many local owners.

Bandy walked commissioners through scenarios tied to a proposed ballot measure that would raise the non‑school homestead exemption (capped amounts phased to $150,000 and $250,000) and reduce nonhomestead annual increases from 10% to 5%. He said those changes could remove “hundreds of millions” from the taxable roll in Okeechobee County and urged caution in relying on current projections; staff and commissioners agreed the board must model potential revenue impacts when finalizing budget choices. No formal board action was taken; the appraiser and staff will supply numbers for budget‑alignment modeling.