Amendment 3 would raise Florida's homestead exemption for qualifying resident homeowners in 2027 and 2028, while cutting annual nonhomestead assessment hikes roughly in half.
State estimates showed local governments statewide could lose ~$5B in year one, with recurring annual losses reaching ~$12B by year five thereafter.
Homeowners could see lower bills, but local officials warned communities might answer revenue gaps with higher fees, reserve use, service cuts, or tax-rate increases.
Support cooled as local leaders, economists, Real Estate professionals, and public-safety groups questioned long-term affordability gains and warned responsible governments could be hit too.
Voters statewide will decide on Nov. 3 after a court-ordered ballot rewrite; passage requires a supermajority and would take effect January 1, 2027.
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