REPORT: These places may lose the most under Florida’s new property tax plan

Florida’s new property tax proposal — Amendment 3 — is slated to appear on the ballot on Tuesday, putting it up to the voters to decide whether homeowners across the state should get a major tax cut.However, critics warn that the plan may cost local governments dearly, as property taxes are used to fund core services like police departments and libraries.[RELATED: Is Amendment 3 just a tax cut or a ticking time bomb?]Regardless of which position Florida voters take, nonprofit research institute Florida Tax Watch has released a “resource center” aimed at educating residents on the potential impacts of the proposal.[RELATED: Everyone’s talking about: Property taxes]According to the nonprofit, Amendment 3 is expected to reduce local property taxes by over $45 billion over the course of five years — though this figure isn’t distributed equally.HOW MUCH WILL MY LOCAL COUNTY LOSE?Statewide, property tax reductions are forecast to be as follows:FY2027-28: $4.93 billionFY2028-29: $8.71 billion