Realtors may be rejoicing over the possibility Florida’s homestead exemption could be increased by an additional $25,000 in 2019.
Brandi Gabbard is not one of them.
The National Association of Realtors director and a candidate in St. Petersburg’s District 2 race this year, Gabbart has “grave” concerns about the proposal, which if approved by the voters in November of 2018 could result in the loss of millions of dollars in revenue to the city.
“Anything that causes huge deficits to local revenue is of great concern,” Gabbard said during a meeting early Wednesday at a Dunkin’ Donuts on North Martin Luther King Jr. Blvd. “I’m currently combing through the budget, and I’m hard pressed to see where that deficit will be made up.”
Mayor Rick Kriseman, Tampa Mayor Bob Buckhorn oppose the measure, as well as elected officials at the city and county level throughout Florida.
Despite that opposition, state legislators approved the measure anyway, which will go before the voters in the fall of 2018.
Gabbard is currently running in a one-on-one matchup with banker Barclay Harless for the District 2 seat being vacated by term-limited Jim Kennedy.
In Gabbard’s opinion, the bigger issue for many St. Petersburg homeowners is what’s going to happen with the National Flood Insurance Program, which is scheduled to end this September. A proposal to renew the plan for another five years has just been introduced in Congress, and Gabbard participated with Congressman Charlie Crist and other officials in a roundtable discussion on the issue Monday.
“A tax break here doesn’t necessarily make up for an increase in flood insurance cost on that side,” she says.
Gabbard serves on the St. Pete public information task force on property insurance that meets quarterly, and as someone who’s been selling real estate in Pinellas County for over a decade, is an expert on the subject of flood insurance and its potential to seriously harm homeowners in the city, depending on what Congress ends up doing.
“Even though flood is a national issue, I just think it’s so important to us here, because we are Ground Zero,” she says. “Pinellas County has more properties affected -especially when it comes to the grandfathering issue – than any other place in the country, so it’s my duty to continue that fight, even after I’m on City Council. Because the issue every time it rears its head it gets uglier and uglier and we have to find a solution.
Regarding homeowners, Gabbard acknowledged that housing is a huge issue in this year’s campaign, specifically workforce housing. She said the biggest problem is that there’s simply not enough “inventory” to satisfy demand in St. Pete, particularly for those looking teachers, policemen, firemen and other professionals attempting to spend between $100,000-$250,000 for a first time purchase.
“If there is going to be loan on a property, it has to meet certain criteria, and a lot of those homes are not in the condition that they would actually be financeable, ” she says, adding that if they were, they’d be more expensive, “so it’s a really challenge place to be.”
Gabbard says the challenge for the city is how do redevelop in a “smart way that doesn’t lose the aesthetic of our neighborhoods, but at the same time, provides those options for those who want to create a life here in their city.”
Meanwhile, the U.S. Army Corps of Engineers announced Wednesday that they have issued a permit to the city to begin construction on the new Pier.
Gabbard says she personally wants to see a new Pier but voters have concerns over the escalating costs of the project.
“They’re just really concerned about the money, the increased costs that keep being brought up and keeps being discussed,” she says.
Unless a third candidate gets in the race before the end of next month, Harless and Gabbard won’t square off until November. If there’s a third candidate, a primary would be held August 29.
