Higher values ease pressure on government revenue but a potential increase in the homestead exemption would reduce revenue by millions, absent tax hikes.
At least some of the extra money is likely to be eaten up by increasing enrollment in the state’s public schools, changes to health-care spending and the like.
Under the current deal with the Seminoles, which ends in 2015, the tribe makes the payments to the state in exchange for having the exclusive right to offer banked table games, such as blackjack, along with a monopoly on all slot locations outside of Broward and Miami-Dade counties. The Seminoles agreed to pay a minimum of $150 million in each of the first two years, $233 million in the third and fourth years and $234 million in 2015.
The added revenue swells to $2 billion the net increase from this year’s budget in the general revenue, but lawmakers aren’t scheduled to take up the budget again until next spring’s legislative session, and other revenue forecasts are expected in the interim, meaning it will likely take awhile before the full budget picture is known.