(The Center Square) – Florida voters approved Amendment 3 on Tuesday, raising the amount of a qualifying home’s assessed value exempt from nonschool property taxes to $150,000 in 2027 and $250,000 in 2028.
With 99% of the expected vote counted, 4,894,305 voters supported the amendment, or 62.01%, and 2,998,348 opposed it, or 37.99%, according to unofficial results reported by NBC 6 South Florida. Florida requires at least 60% approval for a constitutional amendment to pass.
The larger exemption takes effect Jan. 1 and reduces the taxable value of a homeowner’s primary residence for county, city and other non-school property taxes. A homeowner’s savings will depend on the home’s assessed value and local tax rates. The exemption will adjust for inflation after 2028.
Miami-Dade County estimates that, at current tax rates, it will collect $385.8 million less in property taxes in the budget year beginning in October 2027 and $696.7 million less the following year. The county uses property taxes to help pay for fire rescue, roads, libraries and other services.
People who move to Florida after Dec. 31 will initially qualify for the existing exemption and become eligible for the larger amount in their fifth year of claiming the exemption, subject to federal constitutional limits. For owners of rental and commercial properties, the amendment lowers the annual cap on assessment increases for non-school taxes from 10% to 5%.
The amendment also directs lawmakers to establish a process for cities and counties to exempt up to a home’s full assessed value from their own property taxes. Special districts can increase their exemptions with voter approval.
Florida’s other two proposed amendments fell short of the 60% threshold.
Voters rejected Amendment 1, which would have raised the cap on the state’s rainy day fund from 10% to 25% of general revenue collections. The measure drew 4,609,926 votes against, or 59.32%, and 3,161,801 in favor, or 40.68%.
Amendment 2 won majority support but fell short with 4,528,937 votes in favor, or 58.23%, and 3,248,182 against, or 41.77%. It would have exempted qualifying equipment and other personal property used for farming or agritourism from property taxes.
This article was originally published by The Center Square and is republished under its open-access guidelines.