Florida voters approved Amendment 3 on Tuesday, according to election projections, clearing the way for a broad cut to property taxes on homes across the state.
The measure raises the homestead exemption for non-school property taxes from $50,000 to $150,000 in 2027 and then to $250,000 in 2028. A homeowner whose house is assessed at $500,000, for example, could eventually have local taxes calculated as if the home were worth $250,000. School taxes would not change. The amendment also slows how fast the taxable value of second homes, investment properties and commercial properties can rise each year.
People who were not Florida residents as of Dec. 31, 2026, would have to wait until their fifth year of qualifying for a homestead exemption to get the larger benefit.
Gov. Ron DeSantis pushed for major property tax cuts for more than a year, though he later distanced himself from the Legislature’s final version. Republican gubernatorial candidate Byron Donalds also backed the measure.
Opponents said cities and counties would lose money and could cut services. A legislative analysis projected nearly $5 billion in lost local revenue in the 2027-28 fiscal year. Miami-Dade’s mayor, Daniella Levine Cava, said the county could lose roughly $385 million in its first year, putting fire rescue, libraries, roads and public transit at risk. The Florida Sheriffs Association also opposed the amendment.
The changes were set to begin Jan. 1, 2027. Amendment 3 needed at least 60% voter approval to pass.
