Florida voters will decide three proposed constitutional amendments that could affect state savings, property taxes and homeowner exemptions. The measures appear on the ballot as Amendments 1 through 3.
Amendment 1 would raise the cap on the Budget Stabilization Fund, often called the “rainy day fund,” from 10% of net general revenue to 25%. Supporters say a bigger reserve would help the state handle downturns, major disasters or unexpected shortfalls. Opponents argue that holding more money in reserve could limit funding for current programs and services.
Amendment 2 would exempt certain tangible personal property from property taxes when it is used for agricultural or agritourism activities. The exemption would cover equipment and tools typically found on farmland, whether owned by the landowner or a leaseholder. Supporters say it would lower costs for farmers, while critics question how much local governments could lose in tax revenue.
Amendment 3 would significantly expand the homestead exemption from non-school taxes. It would rise to $150,000 in 2027 and $250,000 in 2028, then adjust for inflation starting in 2029. Supporters point to relief for homeowners as housing costs climb. Opponents warn that local governments and special districts could collect less money for services funded by property taxes.
Because the proposals would change the state constitution, they take effect only if voters approve them.
