Florida voters approve $5 billion property tax cut

Florida voters approved Amendment 3, a property tax reduction measure that passed with nearly 62 percent of the vote as of 96 percent precinct reporting. The proposal exceeded the 60 percent threshold required for constitutional amendments to take effect.

The amendment raises the homestead exemption for non-school property taxes. It will increase the exemption to $150,000 in 2027 and to $250,000 in 2028. State economists project the measure will reduce local government revenue by nearly $5 billion in its first year. They estimate the reduction will reach nearly $8.8 billion the following year.

City officials, educators, and first responders largely opposed the proposal. Nearly every law enforcement entity in the Tampa Bay area argued the tax cut would decrease public safety funding. The Florida Realtor’s Vote Yes on 3 PAC provided the primary funding for the campaign supporting the measure.

Pasco County Sheriff Chris Nocco was the only sheriff to publicly support Amendment 3. Nocco, who is leaving his post to run in a special general election for Florida State Senate District 21, received a $1,000 payment from the Florida Realtors in July. He argued that local governments will become more efficient because they must recognize the budget changes.

Nocco told voters that communities should not worry about first responders losing money. He stated that politicians in Tallahassee will ensure their budgets remain a priority. The election result was confirmed through Fresh Take Florida’s dashboard.