Hollywood officials warn Amendment 3 could cost city $34 million and force cuts or higher fees

The city of Hollywood hosted a public meeting to give residents an opportunity to ask questions and learn more about Amendment 3, a ballot proposal aimed at drastically slashing property taxes.Under Amendment 3, the taxable value of a primary homestead property would drop by $150,000 in 2027 and by $250,000 in 2028. Following those reductions, the state Legislature would decide whether to eliminate property taxes on primary residences altogether.City officials warn the proposal could significantly impact local municipal budgets. Hollywood stands to lose $34 million in revenue with the initial cut alone."What's really important for people to understand is that nothing is safe from potential cuts," said Adam Reichbach, deputy city manager in Hollywood. "Ultimately, cities are going to have to make decisions about whether we cut services or programs or raise taxes and fees or maybe some combination of both, but ultimately we have to balance our budget every year."Tax revenue currently mak