Florida Amendment 3: Voters pass historic property tax caps

TAMPA, Fla. - Florida homeowners and commercial landlords will see major property tax reductions after voters approved Amendment 3 by clearing the required 60% supermajority threshold at the ballot box on Tuesday. 

Florida voters approve tax overhaul

Why you should care:

Florida voters cleared the 60% majority requirement to pass Amendment 3, resulting in an overhaul of the state constitution's tax structure.

The measure expands exemptions for primary residences while cutting allowable yearly assessment increases on business sites, second homes and rental properties in half.

Historic relief for homeowners

By the numbers:

Under prior rules, primary homeowners held a baseline $25,000 exemption across all property taxes and roughly $51,411 in non-school exemptions.

The $25,000 school-tax deduction stays intact under the amendment, but non-school homestead exemptions will increase in phases.

On Jan. 1, 2027, the non-school exemption jumps to $150,000.

The non-school threshold expands to $250,000 on Jan. 1, 2028, before shifting to automatic annual inflation adjustments beginning in 2029.

Commercial real estate protections

The backstory:

Starting Jan. 1, 2027, non-homestead properties will see annual assessment increase limits drop from 10% to 5%.

The lower cap applies to commercial sites, second homes and residential rental properties to shield businesses from abrupt market spikes.

Municipal budget shortfall debate

The other side:

Supporters argued the amendment grants crucial relief to families wrestling with climbing home values and broader cost-of-living pressures.

Opponents, including city and county officials, warned the resulting revenue loss could reach tens of billions of dollars over five years.

Municipal leaders cautioned that the shortfall could force local governments to trim public services or raise millage rates.

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