Florida Voters to Decide on Tax Amendment Affecting Local Government Funding

Florida voters will decide in November whether to approve Amendment 3, a proposed constitutional amendment concerning property tax revenue collection in the state. If approved, the amendment would increase the homestead exemption for non-school property taxes to $150,000 in 2027 and $250,000 in 2028. This proposal raises questions about how cities, counties, and special taxing districts will compensate for potentially lower property tax revenue.

The amendment does not eliminate property tax funding for public safety, which is identified as a purpose for which counties and municipalities may use property tax revenue. However, the potential reduction in available property tax revenue due to the larger homestead exemption means the impact on services depends on how each city and county responds to budget changes.

The amendment seeks to change the fiscal framework governing local government revenue streams in Florida.