The long-running debate over a new Tampa Bay Rays stadium is facing another complication — uncertainty surrounding Florida property taxes. During an appearance on The Ryan Gorman Show, Tampa Bay Business Journal Editor-at-Large Ashley Kritzer said local officials are increasingly concerned about how potential changes to homestead property taxes could affect the region’s ability to fund a stadium project.
A campaign is underway to place a measure on the ballot that could reduce or eliminate homestead property taxes, a move that could significantly impact city and county budgets. A citizens advisory committee recently warned Tampa City Council that the financial implications of such a change should be considered before committing public dollars to a Rays ballpark. Kritzer noted that despite the region’s growth, many local governments across Tampa Bay are still dealing with tight budgets.
Even without tax changes, the math around stadium funding remains challenging. Recent analyses of potential revenue sources in Hillsborough County suggest the county could still fall tens of millions of dollars short annually when trying to finance its share of a stadium. Kritzer said concerns about whether Hillsborough has the financial capacity to support a deal have existed for nearly a decade, dating back to early discussions about the Rays exploring sites outside St. Petersburg.
Meanwhile, Rays ownership continues efforts to build public support for a potential stadium at the Hillsborough Community College campus site. The team recently held a community listening session and released new renderings showing what redevelopment around the stadium could look like. While visually appealing projects can help generate excitement, Kritzer said public skepticism toward glossy renderings has grown over time, with many residents waiting to see “shovels in the ground” before getting too invested.
An upcoming economic impact study expected in the coming weeks could provide more clarity on the project’s potential costs and benefits. Ultimately, however, the biggest hurdle may be political support — particularly within the Hillsborough County Commission, which would likely shoulder the largest portion of the public funding.
To hear the full conversation — including what upcoming studies could reveal about the stadium’s return on investment and whether the Rays have the political support needed to move forward — listen to the full episode of The Ryan Gorman Show.