Photo by J.C. Derrick
Key Points
- Florida voters approved Amendment 3 with 62% of the vote, increasing the homestead exemption.
- Amendment 3 restricts local government spending and caps property value increases at 5% annually.
Florida voters approved the much-debated Amendment 3 on Tuesday, paving the way for lower property tax bills and uncertainty in city and county budgets across the state.
Amendment three garnered 62% of the vote, surpassing the 60% threshold it needed to pass. It is set to take effect in January.
Amendment 3 will raise the homestead exemption on properties from $50,000 to $150,000 in 2027, followed by an increase to $250,000 in 2028. Those numbers will grow automatically with inflation in subsequent years.
Local government officials around the state opposed the measure, saying it would throw budgets into disarray.
No member of the Apopka City Commission responded to a request for comment Tuesday night, but in July Mayor Nick Nesta estimated the city would lose about $60 million in revenue over five years, if Amendment 3 passed.
“Whatever decisions are ultimately made by the voters and the Florida Legislature, my administration will work to adapt responsibly, manage your tax dollars wisely, and continue delivering the services that make our city a great place to live, work and raise a family,” Nesta wrote in an Apopka Chief column discussing the property tax issue.
Amendment 3 also limits local government expenditures, requiring property taxes to be spent only on infrastructure, public safety, education, natural resources, debt service, retirement benefits and government operations and administration. The language prevents assessed property values from rising more than 5% year over year, compared to the current 10% cap.
Amendment 3 garnered more than 4.8 million votes, including a majority in 64 of the 67 counties in Florida.
Meanwhile, voters rejected two other statewide amendments on the ballot. Amendment 1 (modify budget stabilization fund) flopped by nearly 60% of voters opposing the referendum, and Amendment 2 (exempt tangible personal property on agricultural land) fell just short with 58% of the vote.
- With reporting from Seth Johnson