Everglades Work Slowed By January Property Tax Vote
Concerned about reduced revenue and borrowing capacity if property-tax reform passes at the ballot box in January, water district officials in South Florida who are overseeing Everglades restoration are weighing priorities and limiting new contracting activity.
Florida citizens will vote Jan. 29 on a property-tax referendum that could cause the South Florida Water Management District to take a $25 million-to-$30 million annual revenue hit. This would dampen the district's borrowing capability, capped at 20 percent of revenues. Whether the referendum passes or not, the state legislature is expected to readdress the property-tax issue this spring. That could lead to a second referendum in November.