Florida voters approved a major expansion of property tax exemptions Tuesday, passing Amendment 3 and setting the stage for billions of dollars in tax relief for homeowners while reducing revenue collected by local governments.
The measure received approximately 62% support and 38% opposition, according to unofficial election night results, surpassing the 60% voter approval required to amend the Florida Constitution. With an estimated 96% of ballots counted, Amendment 3 had received 4.86 million votes in favor and 2.98 million against.
Amendment 3 will increase the homestead exemption on property taxes other than those levied for schools to $150,000 in 2027 and $250,000 in 2028, with subsequent inflation adjustments. It will also lower the annual assessment increase cap on non-homestead properties from 10% to 5%.
The proposal emerged amid growing debate over property taxes in Florida, where rising property values have increased tax collections even as homeowners face higher insurance premiums and housing costs.
Gov. Ron DeSantis and other Republican leaders advocated substantial property tax relief, arguing that homeowners faced excessive financial burdens and that local governments needed stronger spending restraints.
Florida Realtors also backed the measure, maintaining that larger exemptions would help homeowners retain more of their income.
However, the approved changes have raised concerns among local officials and public safety organizations about the consequences for government operations.
State revenue estimates projected that Amendment 3 would reduce local non-school property tax collections by approximately $4.95 billion in fiscal year 2027-28, with annual losses potentially reaching $11.86 billion after full implementation.
Public opinion surveys suggested uncertainty about the proposal’s prospects before Election Day.
An October University of North Florida poll found 50% of respondents supporting Amendment 3, while 35% opposed it and 14% remained undecided. A separate Associated Industries of Florida survey found 53% support after respondents reviewed the measure’s full ballot language.
