Overview
- Voters approved Amendment 3 on Tuesday, expanding the homestead exemption to $150,000 in 2027 and $250,000 in 2028 while cutting the cap on non‑homestead assessment growth to 5 percent.
- Analyses project immediate, large losses to local non‑school revenue, with the Tax Foundation estimating roughly $4.9 billion in year one and state and independent analysts warning the gap could rise toward $11–12 billion when fully phased in.
- A Florida League of Cities study found 108 cities could lose 90 percent or more of their homestead tax base, and local officials such as Pinellas County Sheriff Bob Gualtieri say multi‑million dollar general fund hits will force position cuts.
- Officials and economists say the revenue squeeze will pressure police, fire and EMS budgets in many jurisdictions and could lower fire‑protection ratings used by insurers, which may push some homeowners’ premiums higher.
- Supporters, including Gov. Ron DeSantis and Florida Realtors, have suggested state grants to help, but lawmakers must write implementing rules and small or rural counties with limited tax tools face the greatest long‑term risk.