Officials warn homestead amendment could cost Lantana about $1M–$2.3M; resident asks for detailed forecast

Town Manager Brian Raducci told the council the proposed constitutional amendment on the Nov. 2026 ballot would increase the homestead deduction from $50,000 to $150,000 and reduce the non‑homestead annual assessment cap from 10% to 5%.

Raducci summarized staff estimates that, if the amendment passes, the town could lose roughly $1,000,000 in property tax revenue in the first year and an additional reduction that would increase the cumulative loss to about $2.34 million prospectively. He emphasized those figures are based on 2025 tax rules and that the exact impact depends on future assessed values and the election outcome.

Resident Mark Hynet questioned the town’s presentation methodology, telling the council that publicly posted figures appear to be static estimates of total tax loss rather than forecasts of actual dollars the town will collect after growth and caps are applied. Hynet said that under reasonable growth assumptions the net year‑over‑year impact could be materially smaller and asked staff to provide a forward revenue forecast incorporating both the amendment’s effect and expected property‑value growth.

Finance staff acknowledged the source of the numbers (property appraiser worksheets) and the uncertainty in projecting future collections. Raducci said the town is preparing conservative scenarios and urged residents and council members to do their own research before the November vote.

No formal decision was made at the workshop; staff said they would refine forecasts and present details during the budget process and in advance of the September public hearings.