How Lake Worth Beach could be impacted if voters raise the homestead exemption in November
‘It’s going to affect everything,’ a city commissioner says about millions in projected revenue losses that could lead to cuts in public services and programs.IF VOTERS RAISE Florida’s homestead exemption in November, Lake Worth Beach homeowners can expect deep cuts not just to their tax bills but to the public services and programs they receive from the city.
The “Save Our Homes from Excessive Property Taxes” constitutional amendment requires approval by 60% of statewide voters.
Here’s how Lake Worth Beach will be impacted if it passes, according to an analysis by Palm Beach County Property Appraiser Dorothy Jacks using 2025 property values:
Lake Worth Beach has 5,673 homesteaded properties representing nearly 44 percent of the city’s 13,067 parcels.
- If the $50,000 homestead exemption is raised to $150,000, the city would lose about about $3.5 million in property tax revenue in 2027.
- If the homestead exemption is raised to $250,000, the city would lose about $4.75 million in revenue in 2028.
- Applied to the current city budget, that’s a loss of about 18 percent and 25 percent, respectively, in the $19.3 million in property tax revenue that makes up nearly 36% of the $53.6 million general fund.
- That lost revenue could force Lake Worth Beach officials to make tough decisions about cuts their constituents may not like. The challenge comes as Lake Worth Beach property values have reached a milestone — $4.005 billion, an 8.7% increase, according to preliminary 2026 estimates released by Jacks’ office last week.
