Florida Amendment 3: Tax Changes on November Ballot
The proposed amendment would raise homeowner exemptions while capping property value increases for non-homestead properties.
By Peter Graham ·
Florida voters will decide on Amendment 3 on November 3.
The measure carries the official title 'Increase of the Homestead Exemption; Lower Cap on Non-Homestead Assessment Increases.' It proposes to increase the homestead property tax exemption to $150,000 in 2027 and $250,000 in 2028. These figures cover non-school taxes only; the school tax portion will not change under this amendment. The proposal would also reduce the annual cap on taxable value increases for properties other than primary residences from 10% down to 5%. The amendment takes effect January 1, 2027.
To pass, Amendment 3 needs 60% of the vote. The Florida Democratic Party has issued an official rejection of the measure, while the Florida Republican Party has backed it. A 'yes' vote means agreeing to change the state constitution to establish the higher homestead exemptions for non-school taxes starting in 2027, with adjustments for inflation afterward. The primary beneficiaries are homeowners.
There is a waiting period attached to the new benefit. Anyone buying a house to use as a primary residence starting in 2027 must wait five years to receive the increased exemption. The ballot language states that people who are not Florida residents on December 31, 2026, will receive the existing homestead exemption when they qualify for one, and the increased exemption will begin in the fifth year of that exemption.
The measure also places limits on how collected property taxes may be spent. The text requires that these funds go only to public safety, education and schools, infrastructure, natural resources, bond debt service, employee retirement benefits, and operations and administration. Additional expenses may be approved by county officials or county and municipal governing bodies unless state law prohibits them. This remains subject to Article VII, Section 9(a) of the Florida Constitution, which allows counties and municipalities to levy property taxes for their own purposes.
A 'no' vote means property taxes would remain as they are currently. The ballot will present a simple 'Yes' or 'No' choice on this amendment.
Source: WTMO-CD · original report published
