Property Tax Reform Ballot Initiative and Revenue Impacts

Reminded the board that 60% of Palm Bay residents on septic face a $20,000 mandatory conversion in 2030, which should be factored into homeowner financial impacts.

Expressed concern that the tax amendment benefits expensive homes more, hurts renters, creates a 4-5 year waiting period for new homeowners, and will cost the city nearly $50 million in lost revenue.

Suggested keeping the possibility of disincorporation and returning governance to the county on the back burner as an extreme alternative if cities cannot solve funding shortfalls.