Real Estate & Mortgagesbreaking news
Florida's Amendment 3 passes with 62% and leaves second-home owners out
The homestead exemption expansion clears its threshold by two points, but only primary residences qualify and renters get nothing.
This article is general information, not financial, investment or insurance advice. Check the details with a qualified adviser before you decide.
A narrow margin over the bar
Amendment 3 unofficially finished with 62% of the vote on election night. [1] That is two points more than the 60 percent needed to become law. [2]
If you own a Florida home, the result matters to you, and who gets the benefit depends on how the home is used. [1]
How the amendment got to the ballot
Gov. Ron DeSantis spearheaded Amendment 3 and toured the state for more than a year talking about the need to slash property tax bills as valuations surged. [2] He cast the measure as a fix for tax bills inflated by pandemic-era migration. [1]
Lawmakers approved the amendment after DeSantis called a special session, with changes protecting school funding. [1] The amendment also states a goal for the legislature to fully eliminate all non-school property taxes. [3]
Who qualifies and who does not
Only primary residences qualify for the expanded homestead exemption, so second-home and investment-property owners get nothing. [1] The school board levy is excluded from the expanded exemption. [1]
Homeowners must establish Florida residency by Dec. 31, 2026, to get the full benefit. [1]
Renters, who occupy about a third of Florida's housing units, get no relief under the amendment. [1]
The opposition
The Florida League of Cities and Florida Association of Counties opposed the amendment, citing too much uncertainty. [1] The Florida Sheriffs Association said in August it was significantly concerned about the amendment. [1]
Senate President Ben Albritton and Sen. Kathleen Passidomo came out against the amendment, cautioning it could slash services people expect from local governments. [2] Save Our Services spokesperson Jackson Peel said the cuts would gut police, firefighters, ambulances and other local services or force other taxes up. [3]
The Florida Policy Institute created Floridians for Shared Prosperity, which sponsored a campaign urging a no vote. [1]
What it means for you
If the home is your primary residence, it qualifies for the expanded exemption. [1] If you need to establish Florida residency, the date to meet is Dec. 31, 2026, for the full benefit. [1]
If you own a second home or an investment property, you get nothing, and renters get no relief either. [1] Whatever your home, the school board levy is excluded. [1]
Sources
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