Florida Amendment 3: How the proposed property tax overhaul could impact homeowners

Florida voters are heading to the polls to vote on Amendment 3, a constitutional proposal that could overhaul property taxes across the state.Florida property tax overhaulFlorida's Amendment 3 seeks to significantly increase homestead tax exemptions and reduce assessment growth caps for non-homestead properties. Under current law, homeowners receive a base $25,000 exemption for all taxes including schools, plus an additional exemption for non-school taxes totaling roughly $51,411 for the tax year.If approved by at least 60% of voters, Amendment 3 would keep the $25,000 school exemption unchanged but expand the non-school homestead exemption up to $150,000 on Jan. 1, 2027, and up to $250,000 on Jan. 1, 2028. Beginning in 2029, the maximum exemption limit would be adjusted for inflation. Non-homestead assessment protectionsThe proposal also targets non-homestead properties, such as second homes, commercial buildings and rental units. Amendment 3 lowers the annual cap on assessment growth