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Amendment 3: What It Could Mean for Your Property Taxes
Florida voters will head to the polls on November 3 to decide on Amendment 3, a proposal that could significantly change how property taxes are calculated across the state.
If approved by at least 60% of voters, the amendment would increase the homestead exemption for non-school property taxes from approximately $51,000 to $150,000 in 2027 and $250,000 in 2028, with future adjustments for inflation. It would also lower the annual cap on assessed value increases for non-homestead properties, including many second homes, rentals, and commercial properties, from 10% to 5% for non-school taxes. Existing Save Our Homes protections and portability would remain in place, and eligible current homestead owners would receive the updated exemption automatically. Florida residency timing would also matter when determining eligibility for the full benefit. Supporters point to the potential for meaningful property tax savings, while critics raise concerns about how reduced revenue could affect local government budgets and community services.
With a 60% supermajority required for passage, Amendment 3 could have a lasting impact on Florida property owners and the communities they call home. Understanding the proposed changes, and their potential trade-offs, can help voters make an informed decision this November.
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