Florida Voters Pass Amendment 3, Raising the Homestead Exemption to $250,000 and Opening a Nearly $12 Billion Local Budget Hole
Florida voters approved Amendment 3, lifting the non-school homestead exemption from $50,000 to $150,000 in 2027 and $250,000 in 2028 and capping non-homestead assessment growth at 5%. State economists project local revenue losses approaching $12 billion a year, with renters, landlords and commercial owners likely to absorb part of the shift.
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