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 $250,000 in 2028. By shielding more of a home’s assessed value from taxation, this exemption effectively lowers homeowners’ tax bills. New homeowners would also reportedly be eligible for a property tax break, but on a more phased-in basis.
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