If approved by at least 60% of voters, the amendment would increase the homestead exemption for non-school property taxes to $150,000 in 2027 and $250,000 in 2028, with inflation adjustments afterward. The current maximum homestead exemption is $51,411 in 2026, though not all of it applies to school taxes.

The expanded exemption would reduce the taxable value of a qualifying owner’s primary residence when non-school property taxes are calculated. For example, a home with a taxable value of $300,000 would be taxed on $50,000 of that value for those taxes under a $250,000 exemption. The increase would not apply to school property taxes.

The proposal would also cut the annual cap on assessed-value increases for non-homestead properties, including rental properties and second homes, from 10% to 5%. That limit applies to assessed value, not the final tax bill, which can still change for other reasons.

Eligibility would depend in part on residency. People who were Florida residents by Dec. 31, 2026, could qualify for the expanded exemption if they meet the requirements. People who were not residents by that date would receive the existing exemption when they qualify for homestead status, with the increase beginning in their fifth year, to the extent allowed by the U.S. Constitution.

Amendment 3 would also direct counties and municipalities to use property-tax revenue for listed purposes, including public safety, schools, infrastructure, natural resources, debt payments, employee retirement benefits, and government operations. Other spending could be approved by local officials or governing bodies unless state law prohibits it. The amendment is scheduled to take effect Jan. 1, 2027.

The change could mean less revenue for local services. Estimates cited for Coral Springs project a reduction of about $14.5 million in 2028 and $26.8 million by 2029. Potential effects include pressure on funding for public safety, parks, infrastructure and community programs, though the impact would vary by jurisdiction.

Supporters include Miami-Dade Property Appraiser Tomás Regalado, Sheriff Rosie Cordero-Stutz and Republican gubernatorial candidate Byron Donalds. In a Telemundo 51/NBC6 survey, 55% of respondents supported the amendment; 49% of those supporters said property taxes were too high.

Opponents, including the Florida Sheriffs Association and Democratic gubernatorial candidate David Jolly, have warned that lower property-tax revenue could jeopardize law enforcement and other local services. Among respondents who opposed the amendment in the survey, 55% named possible cuts to local services as their leading concern.

A “no” vote would leave the current homestead exemption and non-homestead assessment cap in place unless they are changed later. The competing concerns are direct: potential tax relief for some homeowners against the possibility of tighter budgets for local governments and the services residents rely on.