Florida Homeowners Win $250,000 Property Tax Exemption in 62% Vote
Voters approved Amendment 3, which will raise the homestead exemption to $150,000 in 2027 and $250,000 in 2028.
By Mia Bennett ·
Florida voters approved a constitutional amendment on Tuesday that will sharply reduce property taxes for primary homeowners. The measure, known as Amendment 3, secured approximately 62 percent of the vote. This result exceeded the 60 percent threshold required to alter the state constitution.
The amendment changes the baseline for homestead exemptions. Currently, eligible properties receive a $50,000 exemption. Under the new rules, that figure will rise to $150,000 in 2027. It will increase again to $250,000 in 2028. These amounts will be deducted from the assessed value of homes before taxes are calculated.
The first tax roll to reflect these changes will be the 2027 tax roll, effective January 1, 2027. Florida lawmakers plan to draft legislation to implement the specific administrative details of the new exemption levels. The exact financial benefit for any single homeowner depends on their property's assessed value and local tax rates.
Property tax relief has dominated Florida political discourse for several years. Supporters of the amendment argued that higher exemptions would help residents keep their homes as insurance premiums and housing costs climbed. Opponents and local officials raised concerns about how municipalities would fund services if property tax revenue decreased.
The vote does not eliminate all property taxes on primary residences. It only lowers the taxable portion of the property value. The approval stands as a major shift in the state's tax code, directly impacting the financial obligations of eligible homeowners across the state.
