Amendment 3 to the Florida Constitution won 62% of the vote. It needed 60% to take effect. The change raises the tax exemption for homeowners and limits local governments’ property tax revenue.
The homestead exemption for non-school taxes will rise from $50,000 to $150,000 in 2027 and to $250,000 in 2028. The amount will then be adjusted for inflation. The amendment does not cover school taxes, so it will not eliminate a homeowner’s entire tax bill. The size of the savings depends on the taxable value, local tax rates and eligibility for the homestead exemption.
The annual cap on growth in the assessed value of commercial and rental properties will fall from 10% to 5% starting Jan. 1, 2027. The amendment also limits what cities and counties can spend property tax revenue on. It lists public safety, education, infrastructure, natural resources and debt service, among others.
People who were not Florida residents on Dec. 31, 2026, will receive the existing exemption. The higher exemption will apply to them starting in the fifth year of claiming the exemption. According to the Seminole County property appraiser’s office, the changes will first appear on bills issued in November 2027.
Local governments had warned of a drop in revenue. A legislative analysis estimates that local government revenue will fall by almost $5 billion in the 2027–28 tax year, with the shortfall expected to grow in later years. Miami-Dade County administration estimated the county would lose about $385 million in the first year. Orange County estimated that its tax revenue would fall by $275 million by 2028. State economists projected that after 2028, local governments’ revenue from this tax would shrink by $12 billion statewide.
The proposal was prepared by the office of Gov. Ron DeSantis, and the Legislature passed it during a special session in June. The governor had proposed the higher exemption take effect immediately, but lawmakers changed it and excluded school districts from it. Renters and people who do not own property will not get such savings from the homestead exemption. Critics warn they may bear costs indirectly if local governments begin seeking revenue from other taxes and fees. The results are unofficial until certified.
Source: Tampa Bay Times, Florida Politics, Sun Sentinel
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