Florida voters will decide in November whether to approve Amendment 3, a proposed constitutional amendment that could change how much some homeowners pay in property taxes.
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If approved, the amendment would increase the homestead exemption for non-school property taxes to $150,000 in 2027 and $250,000 in 2028, with adjustments for inflation afterward.
But while the proposal could mean tax savings for some homeowners, it could also reduce property tax revenue collected by cities and counties.
Broward County Property Appraiser Marty Kiar estimates the average homeowner could save about $1,300 in the first year when the exemption increases to $150,000.
The estimated average savings would increase to about $2,300 in the second year, when the exemption reaches $250,000.
Those are averages, and the amount an individual homeowner could save would depend on factors including the property’s taxable value and local tax rates.
Keep in mind, property tax revenue is divided among multiple taxing authorities, including the school board, county, city and special districts.
Read more Will your property assessment change if Amendment 3 passes?
At the city level, property tax revenue helps fund services such as parks and recreation, infrastructure, public safety, and other community programs.
In the City of Coral Springs, for example, estimates show that if Amendment 3 passes, the city could see its annual property tax revenue reduced by approximately $14.5 million in 2028 and $26.8 million by 2029.
The city says property tax revenue is an important source of funding for services and programs, including public safety, parks, recreation, infrastructure improvements, and community programs.
Amendment 3 needs at least 60% of the vote to become part of the Florida Constitution.
The amendment is on the ballot for the Nov. 3, 2026, general election.
Homeowners with questions about how the proposal could affect their taxes should check with their local city or county. Many local governments, including Coral Springs, have published estimates about the potential impact on their budgets and services.
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