Oviedo plans for major revenue hit from proposed property tax cut

Oviedo is planning for a property-tax overhaul that could strip millions from city coffers if Florida voters approve CS/HJR 1-F in November. The measure, called Save Our Homes from Excessive Property Taxes, would need 60% approval and would raise the state homestead exemption to $150,000 on Jan. 1, 2027, then to $250,000 on Jan. 1, 2028, with later increases tied to inflation.

All property taxes collected by the city go into the General Fund, which pays for police, fire and EMS, paving and street maintenance, parks and facilities, recreation programs, IT and administrative costs. In FY 2025-26, Oviedo collected $24,594,798 in property taxes. Under the $150,000 exemption scenario, Oviedo projects a loss of about $5.1 million in FY 2027/28.

City leaders would have to decide whether to trim staffing, delay capital work, scale back services or look for new fees and other revenue to cover the gap. Because the change would take effect on Jan. 1, 2027, the planning is happening now, before voters have made the final call.

Seminole County is making the same calculations on a larger scale. County officials began factoring the amendment into budget planning in June, and projections range from a $119 million loss to more than $188 million in revenues through 2029 if the cut is approved. County officials have also been weighing what taxes might have to rise and what services could be cut, while the county’s budget cycle already includes major election-related costs.

Ron DeSantis announced a June 2026 special session to pursue property-tax relief, and the Florida House of Representatives and Florida Senate passed the proposal on June 2 by votes of 75-26 and 30-9. The Revenue Estimating Conference put the recurring cost at $12 billion.