City of Polk City
An estimate of how Amendment 3's larger homestead exemption could change ad valorem property tax revenue for the City of Polk City, based on 2026 property values and the final 2026 city tax rate of 6.0000 mills.
These are estimates, not forecasts. They hold today's values and tax rate constant to show the effect of the new exemption by itself. Property values, the number of homesteads and tax rates will all change. Property taxes are also not the only source of revenue for the City of Polk City. Read the full list of limitations below.
Illustrative estimates only. These figures are meant to illustrate how Amendment 3 could affect the City of Polk City based on current data. They are not official. For official information about the City of Polk City's budget, tax rate and revenue, contact the City of Polk City directly. For official property values and exemptions, contact the Polk County Property Appraiser.
Summary of estimates
2026 city ad valorem revenue$1.6 million95% of the gross levy of $1.7 million, the share Florida requires taxing authorities to budget at minimum
2028 estimate$1.1 million95% of a gross levy of $1.2 million, with homestead assessed values rising by up to 3% a year, capped at just value
Estimated change by 2028−$512,000−31.3% from 2026. If homestead values stay flat: −$525,500 (−32.2%)
Homesteads78243.8% of 1,786 parcels in the city
Estimated revenue by year
Homestead assessed values rise by up to 3% a year, the most Save Our Homes allows, but never above each home's 2026 just (market) value. All other property stays at its 2026 taxable value. The city's tax rate stays at its final 2026 level. The gross levy is taxable value times the tax rate. The budget basis is 95% of the gross levy, which allows for early-payment discounts and unpaid taxes; see the limitations below.
| Year | Homestead taxable value | Other taxable value | Total taxable value | Gross levy | Budget basis (95%) | Change from 2026 (95%) | Percent change |
|---|
| 2026 | $111,346,628 | $175,184,020 | $286,530,648 | $1,719,184 | $1,633,225 | — | — |
| 2027 (estimate) | $56,332,658 | $175,184,020 | $231,516,678 | $1,389,100 | $1,319,645 | −$313,580 | −19.2% |
| 2028 (estimate) | $21,522,996 | $175,184,020 | $196,707,016 | $1,180,242 | $1,121,230 | −$511,995 | −31.3% |
If homestead assessed values stay at 2026 levels
| Year | Homestead taxable value | Other taxable value | Total taxable value | Gross levy | Budget basis (95%) | Change from 2026 (95%) | Percent change |
|---|
| 2026 | $111,346,628 | $175,184,020 | $286,530,648 | $1,719,184 | $1,633,225 | — | — |
| 2027 (estimate) | $53,803,585 | $175,184,020 | $228,987,605 | $1,373,926 | $1,305,229 | −$327,995 | −20.1% |
| 2028 (estimate) | $19,159,053 | $175,184,020 | $194,343,073 | $1,166,058 | $1,107,756 | −$525,469 | −32.2% |
What drives the estimate
Of Polk County's 17 cities, towns and villages, the City of Polk City has the eighth-smallest estimated percentage change in city ad valorem revenue by 2028. The estimated change is −31.3%. Two things determine its size.
How much of the city's taxable value comes from homesteads. The amendment changes the exemption only for homesteads. Property without a homestead exemption, such as rentals, businesses, second homes and vacant land, keeps its taxable value. In the City of Polk City, homesteads make up 38.9% of taxable value in 2026, the seventh-highest share of the 17. Among the 17, the share ranges from 20.9% to 52.2%.
How much of that homestead value the new exemption removes. Because the exemption is a flat dollar amount, it removes a larger share of value from homes with lower assessed values. The median homestead in the City of Polk City has an assessed value of $194,760, the ninth-highest of the 17. By 2028, the new exemption is estimated to remove 80.7% of the city's homestead taxable value. Among the 17, this ranges from 70.1% to 97.0%.
Across the county, places where homesteads make up a larger share of taxable value generally have larger estimated percentage changes. Home values also play a part. Fort Meade has the lowest median homestead assessed value; the exemption removes 97.0% of its homestead taxable value, and its estimated percentage change is the eighth-largest of the 17.
| City or town | Homestead share of taxable value, 2026 | Median homestead assessed value | Homestead taxable value removed by 2028 | Estimated revenue change by 2028 |
|---|
| Village of Highland Park | 52.2% | $207,517 | 78.9% | −41.2% |
| City of Davenport | 48.8% | $233,700 | 91.4% | −44.6% |
| City of Lake Alfred | 45.5% | $211,148 | 84.1% | −38.3% |
| Town of Hillcrest Heights | 45.4% | $156,518 | 70.1% | −31.8% |
| City of Eagle Lake | 40.1% | $213,408 | 94.6% | −37.9% |
| City of Bartow | 39.6% | $160,390 | 88.7% | −35.1% |
| City of Polk City | 38.9% | $194,760 | 80.7% | −31.3% |
| City of Haines City | 37.4% | $234,622 | 92.0% | −34.4% |
| City of Auburndale | 35.8% | $215,186 | 80.3% | −28.7% |
| Town of Dundee | 35.6% | $183,408 | 95.2% | −33.9% |
| Town of Lake Hamilton | 34.5% | $226,414 | 89.3% | −30.8% |
| City of Fort Meade | 34.0% | $98,334 | 97.0% | −33.0% |
| City of Winter Haven | 33.7% | $198,200 | 88.3% | −29.8% |
| City of Lake Wales | 28.8% | $174,226 | 92.3% | −26.6% |
| City of Lakeland | 24.4% | $169,115 | 79.2% | −19.3% |
| City of Frostproof | 22.3% | $119,042 | 89.6% | −20.0% |
| City of Mulberry | 20.9% | $137,370 | 94.0% | −19.6% |
Sorted by homestead share of taxable value. Estimates use homestead assessed values rising by up to 3% a year, capped at just value and the final 2026 municipal tax rates.
Homesteads in the city
| Year | Homestead exemption | Homesteads with $0 city taxable value | Share of homesteads | Median city tax per homestead | Homestead share of city taxable value |
|---|
| 2026 | up to $51,411 | 51 | 6.5% | $822 | 38.9% |
| 2027 (estimate) | $150,000 | 288 | 36.8% | $265 | 24.3% |
| 2028 (estimate) | $250,000 | 567 | 72.5% | $0 | 10.9% |
Estimates use homestead assessed values rising by up to 3% a year, capped at just value. Median city tax counts only the city's own millage, not county, school or other taxes.
Property taxes are one of several revenue sources
Florida cities and towns also receive money from other sources. Depending on the place, these can include state revenue sharing, the local government half-cent sales tax, local option sales and fuel taxes, public service taxes on utilities, the communications services tax, franchise fees, charges for services such as utilities and permits, and state and federal grants. The mix differs from place to place. The City of Polk City's adopted budget shows its full set of revenue sources and how much each provides.
Limitations of these estimates
- Values will change. Market values, new construction, demolitions and annexations will all change the city's taxable value. Here, property without a homestead exemption stays at its 2026 value, and homestead assessed values either stay flat or rise by up to 3% a year, but not above each home's 2026 just value. Homes already assessed at their just value don't rise at all, and just values will themselves change with the market. The Save Our Homes cap for 2026 was 2.7%.
- The number of homesteads will change. When a homestead sells, its assessed value resets to market value for the new owner. New owners may or may not apply for a homestead exemption. Owners who were not Florida residents on Dec. 31, 2026, receive a $50,000 non-school exemption instead of the larger amounts. None of these changes are modeled.
- Tax rates may change. The city sets its millage rate each year. These estimates hold the final 2026 rate of 6.0000 mills constant to show the effect of the exemption alone.
- Other parts of Amendment 3 are not modeled, including the new 5% annual cap on non-school assessment increases for property without a homestead exemption.
- Discounts and unpaid taxes. Property owners who pay early get a discount under section 197.162, Florida Statutes: 4% in November, 3% in December, 2% in January and 1% in February, with no discount in March. Some taxes are paid late or not at all, and value adjustment board decisions can lower a property's value after the roll is certified. Because of this, a government does not collect its full gross levy. Section 200.065, Florida Statutes, requires taxing authorities to use at least 95% of their taxable value when setting tax rates, and the Florida Department of Revenue's 2026 TRIM Compliance Workbook says each millage rate must include at least 95% of ad valorem proceeds in the budget. These pages show both the gross levy and 95% of it, called the budget basis. Actual collections vary from year to year and can be above or below 95%.
- Real property only. These figures cover land and buildings on the tax roll. Taxes on tangible personal property, such as business equipment, and on centrally assessed property, such as railroads, are not included. That property has no homestead exemption, so including it would add revenue that Amendment 3 does not change.
- Collection and assessment costs are not subtracted. Fees or commissions that may be paid to the tax collector or property appraiser are not included.
- Taxable value is approximate. These figures use each parcel's county (non-school) taxable value. Exemptions that apply only to city taxes can make the city's actual taxable value differ.
- Operating millage only. Any voter-approved debt service millage is not included.
- Parcel locations come from the millage codes on the same tax roll.
- This page does not predict budgets, services or how the city may respond. For official figures, see the City of Polk City's budget documents and the Polk County Property Appraiser.
Sources and method
Property values and exemptions: The Polk County Property Appraiser's 2026 final tax roll, as published by the Florida Department of Revenue. Tax rates: the Property Appraiser's 2026 final millage rates. Parcel tax districts: the millage codes on the same tax roll.
For each homestead, the estimated taxable value is its assessed value minus the new homestead exemption ($150,000 in 2027, $250,000 in 2028) and any other exemptions, but not less than zero. The gross levy is the city's total taxable value times 6.0000 mills. The budget basis is 95% of the gross levy, following section 200.065, Florida Statutes, and the Department of Revenue's 2026 TRIM Compliance Workbook. Early-payment discounts: section 197.162, Florida Statutes.
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