Florida Ballot: Amendment 3 Would Cap Property Assessment Growth at 5%
The measure also creates a tiered tax exemption for non-school levies, starting at $150,000 in 2027 and rising to an inflation-adjusted $250,000 by 2029.
By Amina Howard ·
Florida voters decide on Tuesday whether to approve Amendment 3, a proposal that would restructure property tax exemptions and limit annual assessment growth for non-homestead properties. The amendment requires at least 60% approval to pass and would take effect on Jan. 1, 2027, if successful.
The core of the proposal creates a new homestead exemption specifically for non-school taxes. For residents already in the state before the effective date, the first $150,000 of assessed value becomes tax-exempt in 2027. That threshold increases to the first $250,000 in 2028 and remains at $250,000 from 2029 onward, with annual adjustments for inflation.
Newcomers to the state face a different timeline. The amendment provides a five-year homestead exemption for new residents before they become eligible for the higher, permanent exemption brackets. This phased approach distinguishes long-term owners from those who move to Florida after the amendment takes effect.
Beyond exemptions, the measure tightens rules on how property values can increase. It reduces the annual growth cap for non-homestead property assessments from 10% to 5%. This limitation directly controls the rate at which commercial and investment properties can be valued for tax purposes each year.
The amendment also restricts how local governments can spend property tax revenue. Allowed uses include public safety services such as law enforcement, EMS, and fire; education and public schools; infrastructure projects like roads, bridges, and stormwater controls; and natural resource projects including flood control.
Local governments may also use the funds to issue bonds for approved uses or debt service, meet employee obligations and retirement benefits, and fund the operations of county officers and commissioners. These spending limits aim to prevent property tax dollars from being diverted to other county or municipal needs.
