Florida voters approve Amendment 3 property tax referendum

Florida voters approved Amendment 3, a proposed property tax referendum meant to phase out property taxes for primary residences.  As of 10:25 p.m., 62 percent of Floridians who voted in Tuesday’s midterm elections were in favor of the constitutional amendment; about 38 percent were against. The measure required 60 percent approval to pass.   The ballot item will raise the $50,000 homestead exemption on primary homes to $150,000 in 2027, and $250,000 in 2028. Beyond that, the Florida Legislature will raise the exemption based on the consumer price index. The proposed amendment will cap annual assessment increases on non-homesteaded property, including […]

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