Florida voters are being asked to decide Amendment 3 on ballots leading into Election Day on Tuesday, and the measure would remake the state’s property-tax system if it clears the 60% threshold needed for approval. The proposed constitutional change would raise homestead exemptions for non-school property taxes, lower assessment growth on non-homestead properties and limit how counties and municipalities can spend property-tax revenue.
Ron DeSantis has backed the measure, arguing for relief on property taxes at a roundtable before Election Day. For voters, the choice is plain: approve a measure that would trim tax bills for homeowners and cap future increases, or leave the current system in place.
Under the plan, the homestead exemption for non-school property taxes would rise to $150,000 in 2027 and then to $250,000 in 2028, with inflation adjustments after that. New Florida residents would not get the full benefit right away. They would qualify for the larger exemption only after five years in the state, while the current exemption of up to $50,000 would apply in the meantime for people who move to Florida after Dec. 31, 2026.
The measure also would cut the annual cap on assessment increases for non-homestead properties from 10% to 5%, and it would put constitutional limits on the way county and municipal governments use property-tax revenue. Allowed uses would include public safety, infrastructure, natural resource projects, flood control, local bonds and existing debt payments, employee retirement benefits and the operations of local government.
That is why Amendment 3 is drawing so much attention now. Supporters, including a number of Republican lawmakers in the state, frame it as tax relief. Detractors say it would weaken the ability of local governments to provide public services funded through property taxes, even as the measure tries to lock in spending rules for those dollars.
The fiscal stakes are large. A Tax Foundation analysis found the measure would cost local governments about $4.9 billion in foregone property-tax revenue in the first year, rising to $8.7 billion in the second year when the $250,000 exemption takes effect. The group said annual impacts would climb to $11.8 billion starting with tax year 2031, while also warning that the full fiscal effect remains uncertain and could exceed current estimates.
If voters approve Amendment 3, it would take effect on Jan. 1, 2027, and the immediate result would be a smaller tax base for local governments just as the state begins phasing in the higher exemption. If it falls short of 60%, Florida’s property-tax system stays intact, and the debate over relief versus revenue will have to wait for another ballot.
