Florida voters approved Amendment 3 on Tuesday, clearing the way for property tax cuts for some homeowners and potentially docking millions in funding for vital public services. The measure passed with 62 percent of voter support, surpassing the mandated 60 percent, as 38 percent voted no. The Florida Republican Party celebrated the win on Tuesday night as did Florida Governor Ron DeSantis.
"An incredible VICTORY for Florida homeowners! Amendment 3 has PASSED, increasing the homestead exemption on non-school taxes to $150,000 in 2027 and $250,000 in 2028. More money stays in your pocket," the Florida GOP said on X.
DeSantis called it a "big win." A homesteaded property is a person's primary residence, and vacation, rental and investment properties typically do not qualify. Florida's Orange County estimated that by 2028, property tax revenue would be reduced by $275 million. Amendment 3 will increase the non-school homestead tax exemption from $50,000 to $150,000 in 2027 and up to $250,000 by 2028.
Critics argue that the amendment will impact services and programs throughout the state, including public safety, parks and infrastructure. Miami-Dade County Commissioner Roberto J. Gonzalez praised the election results on X Tuesday night, saying in part that "You cannot talk about affordability without talking about the high and rising costs of local government that hit homeowners hardest." He also called it a "big win" for the state.
This is a developing story that will be updated with additional information. Newsweek’s reporters and editors used Martyn, our AI assistant, to produce this story. Learn more about Martyn here.
Contact Newsweek editors on this story: Alfred Joyner and Edward T.
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