County staff warns Amendment 3 could cut St. Johns property-tax revenue by tens to hundreds of millions

During the budget presentation, Wade Schroeder reviewed the proposed constitutional amendment on the Nov. 3 ballot commonly referred to as Amendment 3 and presented estimated fiscal impacts from the Florida Legislature's Office of Economic and Demographic Research (EDR).

Schroeder summarized the measure: a phased expansion of the homestead exemption (from $50,000 to $150,000 in year one and to $250,000 in year two), tighter caps on non‑homestead assessment growth (from 10% to 5%) and restrictions on categories for ad valorem tax uses. He said EDR's mid‑July analysis estimated a $68.3 million negative revenue impact to St. Johns County in FY2028, increasing to $136 million in the second year and approaching roughly $200 million by year five under projected growth assumptions.

Schroeder and commissioners framed those estimates as recurring impacts that would reduce the county's capacity to fund capital and operating priorities; the figures were presented as context for the board's decision to approve a tentative budget and millage ceiling.