PALM BEACH COUNTY government’s top tax officers are coming to Lake Worth Beach on Wednesday to offer insight on a proposed property tax amendment that would wipe out millions in local government revenue.
Property Appraiser Dorothy Jacks and Tax Collector Anne Gannon will break down the mechanics of the state’s proposed homestead exemption increase during a free public forum titled “Let’s Talk Property Taxes.”
The hourlong event, hosted by the Black Chamber of Commerce of Palm Beach County, starts at 6 p.m. at the Palm Beach County Food Bank at 701 Boutwell Road.
The statewide ballot measure would raise the homestead exemption, currently $50,000, to $150,000 in 2027 and then to $250,000 in 2028. If approved, it would slash tax bills for property owners but wipe away millions in tax revenue relied on by local governments.
Voters will decide in November. Approval will require at least 60%. A recent poll showed 63% supporting the measure.
“As a chamber that is committed to helping our members grow their businesses, the chamber is committed to educating and informing them on issues that may impact those businesses,’’ said Keely Gideon-Taylor, president of the Black Chamber of Commerce of Palm Beach County.
“We are hosting this event to help our members understand how the proposed changes could affect their property taxes, home values, and long-term financial planning,’’ she said.
Admission is free, but advance registration via the chamber’s website is encouraged. Click here to register.
Jacks and Gannon spoke on a panel last week before a coalition of homeowners associations in central and south Palm Beach County. At the event, County Administrator Joe Abruzzo warned the measure could drive up to 10 small local municipalities into insolvency.
Abruzzo, who did not identify the 10 municipalities, is not scheduled to speak at the Lake Worth Beach event on Wednesday.
Lake Worth Beach could lose about $3.5 million in property tax revenue in 2027 and about $4.75 million in revenue in 2028 if the amendment passes. Applied to the current city budget, that’s a loss of about 18% and 25%, respectively, in the $19.3 million in property tax revenue that makes up nearly 36% of the current $53.6 million general fund.
While the cuts would not shut down the city’s government, they would force changes in services and operations, city commissioners have said.