Amendment 3 Passes in Florida, Transforming Residential Property Taxes

Florida voters approved Amendment 3 to the state constitution on Tuesday, placing into motion sweeping changes to residential property taxes across the state. By clearing the requisite 60% threshold, Amendment 3 will greatly expand Florida’s homestead tax exemption, cutting tax bills for homeowners statewide. Under this amendment, homeowners will be exempt from taxes on $150,000 in 2027, up from $50,000 this year. That number will increase to $250,000 in 2028. This exemption applies to non-school taxes, carving out a protection for taxes levied to fund local school districts. Also exempt from the effects of Amendment 3 are new Florida residents. Those who did not establish their residency by the end of 2026 will endure a five-year waiting period until the extent of their homestead tax exemption kicks in. With dueling, heavily-funded campaigns both for and against Amendment 3, the measure was one of the most scrutinized items on Tuesday’s state ballot. Any amendment to the Florida constitution must clear 60% instead of a simple majority, thanks to an amendment in 2006 which raised the requirement. Amendment 3 cleared that bar, earning 62.0% of the vote according to The Associated Press with 99% of the vote counted. Opponents of Amendment 3 expressed concern over the effects of lost property tax revenue to local governments. Though the measure was written with the caveat that only non-essential services should lose funding, advocates for public safety have expressed concern over the de-funding of law enforcement, fire departments, and other key government agencies.