ORANGE PARK – Florida Sen. Jennifer Bradley and Clay County Property Appraiser Tracy Drake explained on Tuesday night what’s involved with Amendment 3 that will be decided by state voters during the General Election on Nov. 3, but both admitted nobody knows what the ramifications will be if the measure passes or fails.

The two met with a standing room only audience of residents at the Clay County Republican Headquarters on Kingsley Avenue to talk about HJR 1-F and SB 4-F, a measure that would increase homestead exemptions from $50,000 to $150,000 in 2027, then grow to $250,000 in 2028 with the directive to eliminate ad valorem taxes by 2031.

“Tonight my goal is not to convince anyone to vote for it, vote against it, I just want everyone who does vote to feel as though they understand exactly what change this would usher in,” Bradley said. “It has been a big issue post-COVID with the property value increases [having] made affordability difficult for homes. We've had property insurance. We've had rising values. And we also have had county and city budgets that have exploded with seemingly no limits and no restraints on these county and city budgets across the state.”

Bradley, along with Florida Reps. Sam Garrison and Judson Sapp, who represent all or portions of Clay County, voted in favor of Amendment 3, saying the rising costs should have spawned discussion five years ago.

While the dramatic reduction of ad valorem taxes would be a welcomed relief to property owners – Drake said, if passed, the new law would result in the loss of $35.9 million in county revenues in Year 1 and an additional $21.9 million in 2028 – it would result in a striking loss of revenues for city, town and county coffers.

Gov. Ron DeSantis tasked the legislature to turn back the rising costs of living in Florida. Drake said millage rates have increased by 117.4% since 2010 in Clay County.

But those deep cuts will force officials to re-work budgets. In Clay County, which has one of the most conservatively responsible budgets, the loss of revenue could result in the loss of services like parks, libraries, infrastructure and public works, according to County Manager Howard Wanamaker.

“I'm sure you've seen them in your newspaper articles about the cut in services, the cuts in budgets, all of those things those conversations are happening now,” Bradley said. “I just want to point out, it's different conversations county by county, municipality by municipality. These discussions can happen through the state in every community. Let's talk about it. Let's talk about potential impacts, potential benefits, so that in November when you go to vote everybody goes and votes eyes wide open.”

Bradley and Drake agreed that:

• Drake’s office isn’t part of Clay County government. The property appraiser works for the Florida Department of Revenue.

• Clay County would be affected far more severely than other counties because the rate of home ownership is greater than most counties. In fact, 33.23% of county revenues comes from the collection of property taxes – the second-most to St. Lucie County at 34.97% – of 67 Florida counties.

• If the amendment passes, taxing authorities from city, town and county officials are likely to increase other fees and taxes in other areas to make up for some of the deficit.

• If passed, the measure would only include homeowners who’ve lived in Florida at least five years. That will keep people from moving into the state to take advantage of the savings.

• Increasing the state’s sales tax to spread the expense to everyone, instead of property owners, is a non-starter, according to Bradley.

• DeSantis signed a new law that requires municipalities to get a super majority from its taxing authority if it sets the millage rate higher than the level required to match the rollback rate – the rate needed to match the previous year’s revenues.

• The median price of a home in Clay County was $165,000 in 2010, and now it’s $370,000 – an increase of 124.24%.

• Ad valorem is the amount owed when you multiply the rate by each $1,000 of the assessed value of a property.

• The proposed decrease in ad valorem rates will not affect school district collections.

• Both said nobody knows the long-term effects of the amendment if it receives 60% of the vote on Nov. 3.

• If passed, services would be prioritized with law enforcement and fire safety being prioritized.

Regardless, Bradley said something had to be done to turn back Florida’s rising costs, especially in home prices and insurance.

“We need to give relief to the folks who have been demanding it, who are fed up with the budgets that just grow and grow and revenues going up and rollback rates not being adopted,” she said.

“Maybe what we do is we pass it and we figure it out. We build the plane as we're flying. Tracy, myself, the legislature, all our constitutionals, the commission, we are going to make sure that the services are provided that need to be provided. This is a fundamental reshaping of tax policy.”