Amendment 3 Property Tax

Florida TaxWatch Recommends ‘No’ Vote on Amendment 3

Florida TaxWatch is recommending that voters reject Amendment 3, the property tax proposal appearing on Florida’s Nov. 3 general election ballot, citing concerns about its fiscal impact, potential tax shifts and the process used to place the measure before voters.

The nonprofit taxpayer research institute issued the recommendation last week as part of its 2026 voter guide examining the three constitutional amendments on the statewide ballot. Florida TaxWatch recommends “yes” votes on Amendments 1 and 2 and a “no” vote on Amendment 3.

Amendment 3 would increase the homestead exemption for non-school property taxes from $51,411 to $150,000 in 2027 and $250,000 in 2028, with inflation adjustments thereafter. It would also reduce the annual cap on assessment increases for non-homestead properties from 10 percent to 5 percent. The measure would take effect Jan. 1, 2027, if approved by at least 60 percent of voters.

Florida TaxWatch said the proposal would provide substantial tax relief to homestead property owners but warned that the reduction in taxable value could produce significant revenue losses for counties, municipalities and special districts.

The organization cited a state revenue estimate projecting local property tax collections would decline by $4.9 billion in 2027 and $8.7 billion in 2028, with the cumulative reduction reaching about $45.8 billion over five years under current millage rates.

TaxWatch also raised concerns that local governments could respond to the lower tax base by increasing millage rates, fees or other revenue sources, potentially shifting a greater share of the tax burden toward businesses, rental properties and other non-homestead property.

The group further criticized the speed with which the proposal advanced through the Legislature, arguing that a change of its scale warranted additional study and stakeholder input.

Florida TaxWatch said property tax relief is justified but contended that broader reforms should address both homestead and non-homestead taxpayers while also examining local government spending and revenue growth.