Gov. Ron DeSantis said Wednesday that he plans to call a special legislative session before he leaves office in January to carry out Amendment 3, the property tax relief measure voters approved Tuesday. He spoke at the state Capitol in Tallahassee and said he would work with legislative leaders on timing so newly elected lawmakers have time to organize first.
The amendment passed with about 62% of the vote, above the 60% needed for constitutional changes. It raises the homestead exemption on non-school property taxes to $150,000 in 2027 and $250,000 in 2028, with later increases tied to inflation. It also cuts the annual assessment cap on non-homestead properties from 10% to 5%. The amendment takes effect Jan. 1, 2027.
DeSantis said lawmakers will need to write rules that keep local governments from making up lost revenue through new taxes or fees. He also proposed a taxpayer bill of rights and state grants to help local governments keep essential services running, especially in rural areas.
State revenue estimates project the amendment will cut local non-school property tax collections by about $4.95 billion in fiscal 2027-28. Annual losses could reach $11.86 billion once the changes are fully in place. Local officials and public safety groups have raised concerns about how cities and counties will pay for their operations.
For South Florida homeowners, the changes could lower tax bills in the coming years, while city and county budgets across Palm Beach, Broward and Miami-Dade may face tighter decisions.
