Florida voters approve Amendment 3, raising non-school homestead exemptions to $250,000 by 2028
The measure passed with 62% of the vote, capping commercial assessment growth at 5% and expanding homeowner tax relief in phases starting next year.
By Chioma Kuznetsov ·
Florida property owners will see larger tax breaks and lower assessment caps on commercial buildings after voters approved Amendment 3 on Tuesday night. The measure cleared the 60% threshold with 62% support, enacting a phased reduction in state property taxes for primary residences and a new limit on how fast commercial values can rise.
Primary homeowners currently keep a baseline $25,000 exemption across all property taxes. That figure remains unchanged under the new rules. However, the non-school exemption, which stood at roughly $50,000, will increase in steps. The threshold jumps to $150,000 on Jan. 1, 2027. It reaches $250,000 on Jan. 1, 2028. Starting in 2029, the exemption adjusts automatically for inflation each year.
Commercial real estate owners gain a new protection against rapid market shifts. Effective Jan. 1, 2027, the annual cap on assessment increases for non-homestead properties drops from 10% to 5%. This limit applies to commercial sites, second homes, and residential rental units. The rule shields businesses and landlords from sudden valuation jumps that previously could spike their tax bills.
City and county officials opposed the amendment, warning that the revenue loss could reach billions of dollars over the coming years. Municipal leaders cautioned that the shortfall might force local governments to trim public services. Supporters argued the change provides necessary relief to families dealing with rising home values and cost-of-living pressures.
The Florida Department of State and the Associated Press confirmed the final vote counts. The new tax structure takes effect in stages, with the first major changes landing in the 2027 tax year.
