Florida Just Voted for Lower Property Taxes – and that Could Mean Cuts in Government Services and New Housing Construction
The measure triples the homestead exemption and could cut local government revenue by billions, while school taxes remain unchanged.
- On Tuesday, Florida voters approved Amendment 3, increasing homestead property tax exemptions for primary residences. The measure passed with 62 percent of the vote, surpassing the required 60 percent constitutional threshold.
- Spearheaded by Florida Governor Ron DeSantis, who toured the state for more than a year, the initiative raises the non-school homestead exemption from $50,000 to $150,000 in 2027, then to $250,000 by 2028.
- School district property taxes remain unaffected by the new rules, though critics warn the amendment will significantly impact local government budgets and potentially force service reductions.
- State economic analysis projects the policy could strip local governments of nearly $5 billion in revenue by the 2027-28 fiscal year, with losses reaching nearly $12 billion annually by 2031-32.
- The Florida Legislature must now establish guidance for how local governments manage these shortfalls, with options including service cuts, raising other taxes, or fees to maintain essential services.
130 Articles
130 Articles
Florida Votes for Less Property Taxes
Florida Gov. Ron DeSantis speaks during a news conference Aug. 12, 2025, in Tampa, Fla. (AP Photo/Chris O'Meara, File)(Tallahassee, Florida) – Florida voters have approved a constitutional amendment expanding property tax exemptions for primary residences, delivering a major
Ken Griffin and Jeff Bezos helped make Miami a billionaire magnet—but Florida’s new $250,000 homestead exemption barely makes a dent for them
A middle-class homeowner and the owner of a $50 million mansion could save about the same $2,000 a year under Florida’s new property tax cut. Only one of them will notice.
The Conversation
Florida just voted for lower property taxes – and that could mean cuts in government services and new housing construction
Over 60% of Floridian voters voted to cut property taxes, which has been surging in recent years. AP Photo/Rebecca Blackwell)Many Florida homeowners cheered on Nov. 3, 2026, when more than 60% of voters approved a constitutional amendment to significantly reduce property taxes. Under the measure, Amendment 3, a homeowner’s tax break, known as a homestead exemption, would triple from the current US$50,000 to $150,000 in 2027 and increase again to…
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