Florida Votes to Slash Property Taxes as Amendment 3 Passes
Summary
Florida voters approved Amendment 3 with 62 percent support, clearing the 60 percent threshold required for passage. The amendment raises the homestead exemption for non-school property taxes, which could lower tax bills for some homeowners while reducing local revenue for public services.Key Facts
- The measure received 62 percent of the vote, while 38 percent voted against it.
- The non-school homestead exemption will rise from $50,000 to $150,000 in 2027.
- The exemption will increase to $250,000 in 2028.
- A homestead generally means a person's primary residence; vacation, rental, and investment properties typically do not qualify.
- Orange County estimated the change could reduce its property tax revenue by $275 million by 2028.
- Critics warn that lower revenue could affect public safety, parks, and infrastructure.
- Florida Governor Ron DeSantis and the Florida Republican Party celebrated the measure's passage.
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