The Save Our Homes amendment would cut tax revenue collections in Gulf Breeze and Milton by hundreds of thousands of dollars. If passed, the Save Our Homes initiative would raise homestead exemptions for Florida taxpayers from $50,000 to $150,000 on Jan. 1, 2027 and to $250,000 at the beginning of 2028. In Gulf Breeze, anticipated cuts equate to an approximate 15% reduction in tax revenue, or about $300,000, in year one of implementation and a 27% reduction, or $530,000, in year two.