Amendment 3 Would Cut Property Tax Burden for Florida Homeowners

Florida voters will decide on Amendment 3, a proposal designed to restructure state property taxes.

The amendment proposes changes to both homestead exemptions and assessment caps for other property types. If at least 60% of voters approve the measure, the rules will change in stages over the next few years.

Under current law, homeowners receive a base exemption of $25,000 that applies to all taxes, including those for schools. They also receive an additional exemption for non-school taxes, which totals roughly $51,411 for the current tax year. Amendment 3 would leave the $25,000 school exemption unchanged. However, it would expand the non-school homestead exemption to $150,000 starting January 1, 2027. That limit would rise to $250,000 on January 1, 2028. Beginning in 2029, the maximum exemption limit would adjust for inflation.

The proposal also affects properties that are not primary residences. This group includes second homes, commercial buildings, and rental units. Currently, the annual cap on assessment growth for these non-homestead properties is 10%. Amendment 3 would lower that cap to 5% starting January 1, 2027.

If voters approve the amendment, the initial provisions take effect on January 1, 2027. The higher $250,000 threshold follows in 2028. The Florida Department of State provided the details for this ballot measure.