Amendment 3 Could Bring Property Tax Relief
The proposal could save homeowners $2,500 annually and lower assessment caps for non-residential properties.
Updated on Oct. 22, 2026 in Commercial
Live Poll
Do you support expanding homestead tax exemptions to lower your property tax burden?
Governor Ron DeSantis hosted a roundtable in Miami to advocate for Amendment 3, a proposal that would expand homestead exemptions and lower assessment caps on non-residential properties. If passed, the measure would phase in higher exemptions through 2028, impacting property tax liabilities for Miami-Dade homeowners and businesses.
Why it matters
The proposal aims to provide property tax relief as Florida tax revenues have climbed from $32 billion in 2019 to $60 billion today. For households and business owners, Amendment 3 represents a potential shift in long-term tax obligations and annual property assessment costs.
Florida property tax revenue has risen to $60 billion from $32 billion in 2019. Under the proposed Amendment 3, an average Miami-Dade homeowner with a $250,000 assessed value could see annual savings of $2,500 once fully implemented.
The players
Ron DeSantis
The current Governor of Florida who manages state-level tax policy and budget initiatives.
Miami-Dade Sheriff's Office
A local law enforcement agency that recently reduced annual technology costs by $12 million.
The details
Amendment 3 proposes expanding the homestead exemption for non-school property taxes to $150,000 in 2027 and $250,000 in 2028. Additionally, the measure would reduce the cap on annual assessment increases for non-residential properties from 10% to 5%. These changes are intended to limit the growth of tax burdens on property owners, following a period where Miami-Dade County general fund spending grew 67% since fiscal year 2021.
Timeline
2019: Florida property tax revenues totaled $32 billion.
Fiscal year 2021: Start of the analysis period for Miami-Dade general fund spending growth.
October 22, 2026: Governor Ron DeSantis held a roundtable in Miami regarding Amendment 3.
2027: Planned expansion of homestead exemption to $150,000.
2028: Planned expansion of homestead exemption to $250,000.
Money Landscape
Amendment 3 marks a significant proposed expansion of the Florida Homestead Exemption. This shift comes as the state seeks to curb the impact of rising property tax revenues that have nearly doubled since 2019.
Homeowners should monitor the passage of Amendment 3, as it could reduce future property tax bills by up to $2,500 annually. Business owners should also evaluate how a 5% cap on non-residential assessments might stabilize long-term operating costs.
The takeaway
Amendment 3 aims to lower property tax growth through increased exemptions and lower assessment caps. Review your current property tax assessment and consult with a tax professional to understand how these proposed changes could impact your household's long-term budget.
Further reading
Learn more about local real estate trends and commercial property tax shifts at Miami Commercial.
Live Poll
Do you support expanding homestead tax exemptions to lower your property tax burden?
