Amendment 3 passes, raising homestead exemption for SWFL homeowners in 2027
Florida voters approved Amendment 3 with about 62% of the vote, above the 60% it needed, so Southwest Florida homeowners will get a larger exemption from non-school property taxes: $150,000 of assessed value in 2027 and $250,000 in 2028. The yearly cap on assessment increases for non-homestead property, such as rentals and businesses, drops from 10% to 5%, and school taxes are not affected. A state analysis projects billions in lost local revenue statewide, so Lee, Collier and other local budgets will feel the change.
Source: WUSF and 3 more