Florida Voters Approve Amendment 3, Raising Homestead Exemption And Cutting Local Property Taxes
Florida voters passed Amendment 3 on Tuesday with about 62% of the vote, clearing the 60% threshold needed to change the state constitution.
The measure increases the homestead exemption for non-school property taxes from roughly $50,000 to $150,000 in 2027 and $250,000 in 2028, with future adjustments for inflation. School taxes remain unchanged.
It also lowers the yearly cap on assessment increases for non-homestead properties, including second homes and commercial buildings, from 10% to 5%.
The change takes effect January 1, 2027.
Supporters, including Gov. Ron DeSantis, framed it as direct relief for homeowners dealing with rising property values and tax bills. Critics warn it will cut billions from local government budgets, raising questions about funding for police, fire rescue, roads, libraries, and other services, particularly in South Florida counties like Miami-Dade, Broward, and Palm Beach.
New residents who establish Florida residency after December 31, 2026, will receive a more limited exemption for their first five years before qualifying for the full amount.
