Florida legislature passes amendment to expand homestead tax exemption

The Florida Legislature approved Amendment 3 in a June special session, setting the stage for a statewide vote. The measure would raise the homestead property tax exemption from $50,000 to $150,000 in 2027 and to $250,000 in 2028, with future increases tied to inflation. State officials estimate the change will cut local non‑school property‑tax revenue by $5 billion in fiscal year 2027‑28 and $9 billion in 2028‑29, creating a recurring $12 billion shortfall. Governor Ron DeSantis says the amendment will provide tax relief and remain affordable for local governments. At least 60 % of voters must approve the amendment for it to become part of the state constitution.