Amendment 3, a constitutional amendment on Florida’s November ballot, would raise the homestead exemption on non-school property taxes to $250,000 in 2028. Gov. Ron DeSantis has promoted the measure, though the version voters will see is narrower than he wanted. It does not include a trust fund for fiscally constrained counties, and it does not apply to school taxes.
The Florida Realtors and the National Association of Realtors are the main financial backers. Their Vote Yes on 3 committee has taken in more than $21 million. Opponents include Florida TaxWatch, local chambers of commerce, police and firefighter unions, and the Florida Sheriffs Association.
The Office of Economic and Demographic Research estimates local governments could lose $11.86 billion a year once the change is fully in place. The projected loss starts near $5 billion in Fiscal Year 2027-28 and rises to $10.751 billion by Fiscal Year 2030-31.
Smaller counties that rely more on homestead taxes would be hit hardest in proportion. St. Lucie County could lose 35% of its revenue, according to the estimates. In raw dollars, Miami-Dade could lose $445 million and Broward about $326 million by Fiscal Year 2028-29.
Polling suggests supporters have ground to make up. A St. Pete Polls survey conducted for Florida Politics in October found 42% support, down 3 points from September. Surveys from EDGE Communications and MDW Communications put support at 50%, and McLaughlin & Associates found 53% after respondents heard the full ballot language. The amendment needs 60% to pass.
