Property Tax Cuts on the November Ballot
Florida voters will decide the fate of Amendment 3 on November 3, 2026, a constitutional amendment that would significantly alter property taxes and local government funding across the state, WGCU News reported. If the measure secures 60 percent or more of the vote, it will rewrite the state constitution to increase homestead exemptions for non-school property taxes. The exemption would jump from $50,000 to $150,000 in 2027 and reach $250,000 by 2028, with inflation adjustments to follow for primary residences owned as of December 31, 2026. The proposal also caps annual assessment growth for non-homesteaded properties at 5 percent, down from the current 10 percent limit.
Tax Savings and Local Revenue Losses
Proponents point to immediate financial relief for homeowners grappling with high housing costs. According to Kiplinger’s, a homesteaded property owner with a taxable value of $400,000 currently pays between 3,200 dollars and 4,000 dollars in property tax, given millage rates ranging from 0.8 percent to 1 percent. Roughly half of that local property tax revenue funds public schools—a share that Amendment 3 leaves untouched. The remaining half supports local services such as police and fire departments, road maintenance, libraries, and parks.
State economists and the Florida Policy Institute predict that the amendment would reduce local government revenue by nearly $12 billion on a recurring basis. Online calculators provided by the Florida Policy Institute estimate steep local shortfalls, including roughly $449.4 million in Lee County, $190.8 million in Collier County, and $127.5 million in Charlotte County. For individual homeowners, an online estimator running on 2025 Florida Department of Revenue millage rates indicates that a Lee County homeowner with a $400,000 taxable value dwelling would save $1,736 in 2028.
Impacts on Law Enforcement and Municipal Services
The projected revenue drop leaves municipalities with difficult choices between cutting essential services or finding alternative revenue sources. Charlotte County Sheriff Bill Prummell warned in a public memo that the cuts could severely impact public safety operations. “More than 99% of the Sheriff’s Office budget is funded through ad valorem, or property, taxes,” Prummell stated, noting that the funds support 911 dispatchers, detectives, and jail operations. FGCU Professor Shelton Weeks noted in an appearance on WGCU’s “Southwest Florida in Focus” that replacing the lost revenue or reducing services will be inevitable down the road.
Florida Realtors stands as the sole major group supporting the ballot measure, citing the 2026 State of Homebuying Report by ServiceLink, which found that 77 percent of buyers spent more than planned on their homes. The burden could ultimately shift to non-homesteaded properties, driving up costs for businesses, retail establishments, and renters already facing housing affordability pressures.
Frequently Asked Questions About Amendment 3
Who qualifies for the increased homestead exemption under Amendment 3?
Florida residents who own and occupy their homes as primary residences as of December 31, 2026, qualify for the higher exemption thresholds of $150,000 in 2027 and $250,000 in 2028.
Which organization supports Amendment 3?
Florida Realtors is the only group publicly supporting the ballot measure, arguing that the tax relief addresses severe homebuying affordability gaps.
How much revenue would Lee County lose if the amendment passes?
The Florida Policy Institute projects that Lee County would experience a recurring local revenue loss of approximately $449,400,000.