Florida voters will decide on Nov. 3 whether to write a much larger homestead exemption into the state constitution. Amendment 3 was placed on the ballot by the Legislature in June as House Joint Resolution 1F, and like every proposed constitutional change it needs at least 60% of the vote to pass. If it is approved, it takes effect Jan. 1, 2027.
What voters will see
Ballots will carry different wording than lawmakers wrote. Judge David Frank of the Leon County circuit court found that the Legislature's original title, "Save Our Homes From Excessive Property Taxes," was "more akin to a political slogan," and Attorney General James Uthmeier filed a rewritten title and summary in August. The new title reads "Increased Homestead Exemption; Lower Cap on Increases in Non-Homestead Property Assessments."
Under the revised summary, the amendment would:
- Raise the homestead exemption that applies to county, city and other non-school property taxes to $150,000 of assessed value in 2027 and $250,000 in 2028, with inflation adjustments afterward. School property taxes would not change.
- Give anyone who has not become a Florida resident by Dec. 31, 2026, the existing, smaller exemption at first, with the larger one starting in their fifth year of eligibility.
- Cut the annual cap on how fast assessed values can rise for property that is not a homestead, including rental homes and business property, to 5% from 10%.
- Limit how counties and cities may spend property tax money to listed categories, including public safety, schools, infrastructure, natural resources, bond payments, employee retirement costs and operations.
Estimated cost to local governments
The House's final bill analysis, citing the state Revenue Estimating Conference, projects local non-school property tax collections statewide would fall by $4.95 billion in the 2027-28 budget year and $8.78 billion in 2028-29, settling at about $11.86 billion a year.
In Winter Springs, David Johnson, Seminole County's property appraiser, told residents at an August city informational session that the city has the county's highest share of homesteaded properties, close to 71%. "In Winter Springs, the fiscal impact over a two-year period of time will be about $6.5 million," Johnson said, according to Spectrum News 13.
City officials estimated the loss at 22% of the city budget in 2027, rising to 38% in 2028.
Mayor Kevin McCann said several departments could face cuts. "We're going to have to raise other fees," he said.
What supporters and opponents say
The Vote Yes on 3 committee, funded by Florida Realtors, is leading the campaign for the measure, and Gov. Ron DeSantis has endorsed it. "Affordability is (at) the forefront for every Floridian, and they need meaningful relief," Chuck Bonfiglio Jr., the 2026 president of Florida Realtors, said when the campaign launched.
"This is an opportunity to provide meaningful relief now, while continuing the broader conversation around property taxes."
Opponents include the state sheriffs' association, the Florida Professional Firefighters, the Florida State Fraternal Order of Police and the Florida League of Cities, which said: "Amendment 3 is not a tax cut, it's a tax shift."
