Sarasota County projects an estimated $46.9 million in reduced property-tax revenue in FY 2028 and about $87.1 million in FY 2029 if voters approve Amendment 3, County Administrator Jonathan Lewis told commissioners. The later estimate reflects the phase-in of the larger homestead exemption. The figures are projections, not a list of proposed cuts. The detailed projections were reported by Your Observer and the Sarasota News Leader.


The proposed constitutional amendment would increase the homestead exemption for non-school property taxes to $150,000 in 2027 and $250,000 in 2028, with inflation adjustments after that. It would also lower the annual assessment-growth cap for non-homesteaded property, including vacation homes and businesses, from 10% to 5%. School district property taxes would not be affected. The measure is on Florida's Nov. 3 ballot and needs at least 60% approval to pass, according to the Florida Division of Elections.


Property taxes account for about 65.7% of Sarasota County's $466.1 million General Fund revenue budget and 52.4% of the City of Sarasota's $113 million operating budget, according to FY 2027 figures reported by Your Observer. The county figure is for the General Fund, not the county's full operating budget.


WHAT THE AMENDMENT COULD MEAN FOR LOCAL SERVICES


County departments controlled by the County Commission account for $142.47 million, or 28% of the General Fund. Those departments could face pressure if revenue falls, but officials have not announced specific cuts.


Commissioner Mark Smith said libraries and parks could be vulnerable. “It's not an idle threat when it comes to libraries and parks, because that's the low-hanging fruit that everyone goes after because it's not essential,” he said. “It's not like we're going to keep the libraries open but cut 35 paramedics.”


Lewis said his proportional budget examples were meant to illustrate the potential scale, not direct specific reductions. “I'm not saying you should turn around and if it passes cut $24 million out of your portion of the general fund. I'm not saying cut $35 million out of the Sheriff's Office,” he said.


Commission Chair Ron Cutsinger said during a September panel discussion that the county would face a significant challenge. “I'm not talking about tightening our belt,” he said. “I don't think people understand the size of this impact on the counties, our services and the things we do that bring quality of life.”


SARASOTA CITY PLANS ITS OWN RESPONSE


City Manager Karie Friling outlined a strategy of finding cost savings, evaluating new revenue options and improving efficiency. “Our objective is not across-the-board reduction, but targeted, data-driven recommendations that protect core services and position the city for long-term financial sustainability,” she said.


Personnel costs make up 73% of the city's budget, according to Your Observer. The city and county adopted FY 2027 budgets with millage rates unchanged from 2026: 3.273 mills for the city and 3.3842 mills for the county. Rising property values can still increase individual tax bills even when millage rates stay the same.


WHAT HAPPENS IF AMENDMENT 3 PASSES


The amendment does not promise a dollar-for-dollar state replacement for local revenue losses. It would create a state trust fund for grants to help local governments implement the changes. The ballot summary says remaining property-tax revenue would be used for core public needs, including public safety, education, infrastructure and natural resources. The Florida Senate's bill text describes the proposed trust fund and spending provisions.


For a $350,000 homesteaded home in Sarasota County, Your Observer calculated that the taxable value would be $100,000 in FY 2029 under the proposed exemption. At the current county millage rate, that would produce a county tax bill of about $339. The outlet compared that with a $1,364 county bill in FY 2025; actual bills vary by property and taxing district.


If approved, the amendment would take effect Jan. 1, 2027, and direct the Legislature to establish a schedule for the eventual elimination of non-school property taxes on homesteads.


Polls are scheduled to open Tuesday, Nov. 3.