Florida Voters Cut Property Taxes, Reject Reserve and Farm Measures

Florida homeowners will see their property tax burdens reduced starting next year after voters approved a major tax cut measure on Tuesday. The state also rejected two other ballot initiatives regarding emergency reserves and agricultural tax exemptions.

Amendment 3 secured 62 percent of the vote, exceeding the 60 percent supermajority required for passage. The measure increases the homestead property tax exemption from $50,000 to $150,000 in 2027. It will rise further to $250,000 in 2028. Two other amendments failed to meet the necessary voting threshold.

Amendment 1, which would have raised the cap on the budget stabilization fund from 10 percent to 25 percent of general fund revenue, received only 40 percent of the vote. Amendment 2, designed to exempt certain farm equipment and agritourism property from taxes, garnered 58.25 percent support. That result was 1.75 percent short of the required majority.

Gov. Ron DeSantis championed Amendment 3 during a yearlong tour of the state. He argued for the tax cut as property valuations surged. "Big win on Amendment 3 for Florida homeowners!" DeSantis posted on X on Tuesday night. The proposal was crafted by his office and passed by the Legislature during a special session in June. Lawmakers modified DeSantis' original plan to raise the exemption immediately to $250,000 by phasing it in over two years and excluding school districts from the larger exemption.

Critics from local government and emergency services groups warned the cut would strain rural counties. Jeff Brandes, a former Republican state senator, stated that state leaders are responsible for managing the consequences. "The governor and the Legislature own what comes next. They have the responsibility to manage the fallout," Brandes wrote on X. Senate President Ben Albritton and Sen. Kathleen Passidomo also opposed the measure, noting that a uniform exemption does not account for local differences.

DeSantis also supported the rejection of Amendment 1, which he called foolish. He blamed former House Speaker Daniel Perez for the measure. "Amendment 1.. is deservedly going down in flames. Good riddance," DeSantis wrote on X. The Florida Republican Party and Florida Realtors backed Amendment 3, though several high-ranking party members cautioned about potential service cuts.

The approved measure took effect immediately upon passing the vote. The rejected farm equipment exemption would have provided a tax reduction estimated between $30 million and $40 million across all 67 counties. The budget stabilization fund cap remains at 10 percent of the previous year's general fund revenue.