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Economy

Florida Voters Approve Amendment 3, Raising Homestead Exemption to $250,000 by 2028

Florida voters approved Amendment 3 on Tuesday with about 62 percent of the vote, raising the homestead exemption on non-school property taxes to $150,000 in 2027 and $250,000 in 2028, a change state economists say will cost local governments billions.

By admin Nov. 5, 2026 · 1:43 PM ET 2 min read

A row of single-story homes with palm trees and green lawns on a Florida suburban street.

Florida voters approved Amendment 3 on Tuesday, raising the homestead exemption on non-school property taxes to $150,000 in 2027 and $250,000 in 2028, in the largest change to the state’s property tax rules in years.

With nearly all votes counted, the measure had about 62 percent support, according to Ballotpedia, clearing the 60 percent Florida requires for constitutional amendments. News4Jax reported 4,917,829 yes votes to 3,016,210 no votes with 99 percent of precincts reporting. Amendments 1 and 2 on the same ballot failed.

A single-story Florida house with a driveway, green lawn and palm trees in daylight.

What changes for homeowners

The amendment raises the homestead exemption for non-school taxes, meaning county, city and special district levies, from about $50,000 to $150,000 starting January 1, 2027, and to $250,000 in 2028. After that it rises with inflation. School taxes are not affected: the existing $25,000 exemption for school taxes stays, and Florida TaxWatch says school taxes make up about 40 percent of the average bill.

Florida TaxWatch estimates the average homeowner will save about $1,035 in 2027 and $2,085 in 2028, for a home worth at least the new exemption. The first lower bills arrive in November 2027. People who were not Florida residents on December 31, 2026, get the existing exemption when they first qualify and the larger one starting in their fifth year in the state. For second homes, rentals and commercial property, the yearly cap on assessment increases falls from 10 percent to 5 percent.

An aerial view of a Florida residential neighborhood with rows of rooftops, palm trees and small lakes.

A big hole in local budgets

State economists put the loss to local governments at $4.9 billion in 2027, $8.7 billion in 2028 and $11.8 billion by 2031-32, Florida Trend reported. Florida TaxWatch says the state is not reimbursing local governments for the lost revenue. Property taxes are the largest revenue source for Florida’s cities and counties, paying for law enforcement, fire and emergency services, schools, libraries and animal control.

The measure split Florida’s Republican Party. Gov. Ron DeSantis had pushed for property tax relief for more than a year, and the party campaigned for a yes vote. But Senate President Ben Albritton, a Republican, announced during early voting that he would vote against it. The Florida Sheriffs Association and police and firefighter unions also opposed it. Jackson Peel, a spokesperson for Save Our Services, the committee that campaigned against the measure, told WUFT News that cutting revenue at this scale would force local governments to cut services or raise other taxes. Tim Marden, chair of the Alachua County Republican Party, argued the opposite: that lower taxes directly benefit Floridians.

A Florida county government office building with palm trees and an American flag in front.

The amendment also states a legislative goal of eventually ending all non-school property taxes on homesteads, but that would require further action by lawmakers. Property taxes do not end under Amendment 3, and most homeowners will still receive a tax bill.

Reporting based on coverage by WUFT News, Florida TaxWatch, Ballotpedia and the Cedar Key Beacon.

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