Results for Amendment 3: Here’s how Florida’s newest property tax plan works

There’s a new proposal on the ballot on Tuesday that will let Florida residents determine whether to cut property taxes across the state.The proposal — Amendment 3 — provides a new homestead exemption for non-school taxes for residents in the state. Current homestead exemption rules in the state operate as follows, with two different brackets of assessed value being tax exempt:Assessed ValueApplication of Homestead Exemption (Current)The first $25,000Exempt from all property tax-- $50,000Fully taxable-- $75,000Exempt from non-school taxesRemaining valueTaxable, though other exemptions may applyBut under Amendment 3, the exemptions would apply solely to non-school taxes, though the exempted amount would raise dramatically:2027 — First $150,000 of assessed value2028 — First $250,000 of assessed value2029 onward — First $250,000 of assessed value, indexed to inflationHowever, this only applies to homeowners who are permanent residents of Florida before the proposed amendment takes effec