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Amendment 3 was approved by Florida voters, upending property taxes and budget cuts across the state.
The amendment, which takes effect in January, will raise non-school homestead exemption to $150,000 in 2027 and $250,000 in 2028.
By late Tuesday night, the measure led with over 60% of the vote, enough for it to pass.
Under this amendment, Florida homeowners are expected to save thousands of dollars in property taxes a year, but it will cost local governments billions of dollars.
Supporters said this measure will benefit about 92% of Floridians, who will see thousands of dollars in savings. Opponents said it will create a budget shortfall, impacting services like parks and law enforcement.
Florida Policy Institute, one of the measure’s critics, said Amendment 3 was a “tax shift” and said local governments should “raise revenue in the least regressive way possible.”
This is now part of Florida’s constitution, which will make it harder for lawmakers to overturn it in the future.
