What would Amendment 3’s property tax cut mean for Miami-Dade homeowners?

Florida voters are deciding whether to pass a constitutional amendment that would lower property taxes for some — but not all — homeowners by raising the state’s homestead tax exemption.

Read more Bodies turned over to gang-fighting force in Haiti may be missing Salvadorans

The proposal, Amendment 3 on the Nov. 3 ballot, would apply to the primary residences of homeowners who have lived in Florida for at least five years, but not to newcomers to the state, nor second-home, investor or commercial property owners.

Amendment 3 would raise the homestead exemption for non-school taxes first to $150,000 in 2027, then to $250,000 in 2028. Florida’s current homestead exemption can reduce a primary residence’s taxable value by up to $50,000.

With a homestead exemption of $250,000, someone whose primary residence is worth $700,000 would owe property taxes on only $450,000 of its value.

Florida TaxWatch estimates Amendment 3 would save homeowners in the city of Miami $1,216 in 2027 and $2,448 in 2028. The exact amount Florida homeowners would save varies across municipalities because of differing local tax rates.

Local officials including Miami-Dade Property Appraiser Tomás Regalado, Miami-Dade Sheriff Rosie Cordero-Stutz and Miami-Dade Supervisor of Elections Alina Garcia have all supported the measure. Regalado said last month he believes the amendment will help struggling homeowners afford their homes.

Dariel Fernandez, the county tax collector, supports the measure and has said local governments will need to “tighten belts” to make up for the lost tax revenue.

Gov. Ron DeSantis, who is serving his final term as governor, has long pushed to cut property taxes on primary residences to address Florida’s high cost-of-living.

But Amendment 3 would result in a significant reduction in the state’s property tax base, said Nicole Fox, an analyst with the Tax Foundation, a Washington-based tax policy think tank.

“When a significant portion of the property tax base gets eliminated, the burden then gets shifted onto those that remain,” Fox said.

Read more Miami judge denied woman’s restraining order weeks before ex-boyfriend shot her

While Amendment 3 would not directly raise taxes on second-home owners, people who recently moved to the state or landlords, municipalities may end up raising local tax rates or fees to make up for the budget shortfall. So while Amendment 3 may save some Florida homeowners money on their property tax bill, it may leave others paying higher taxes to make up for it.

If the amendment passes, Florida residents living in the state before the end of 2026 would be eligible for the homestead exemption. Those who move to Florida next year and beyond would have to wait five years to become eligible.

This could make Florida less attractive to people considering moving from out of state or buying a second home, Fox said.

While the proposal applies only to non-school taxes and would not affect Florida’s public school districts, it could lead to a wide range of municipal service cuts, said Rita Jefferson, an analyst for the Institute on Taxation and Economic Policy.

An analysis from the Florida Policy Institute estimates Amendment 3 would lead to $1.5 billion in lost revenue in Miami-Dade County over the course of the fiscal years 2028 and 2029. This could affect services like trash pickup, local libraries, road maintenance and public transit. Jackson Health System, the public health network in Miami-Dade, estimates it would lose $64 million in funding over the next two years if Amendment 3 passes.

READ MORE: Property tax cut could cost Miami’s public hospital $64M. What it means for care

Jefferson said proposals like Amendment 3 can seem attractive to cash-strapped homeowners, but she cautions them to think about the services their property taxes fund that they could potentially lose.

“When you think about the services that you use every day,” Jefferson said, “Those might be more valuable than $1,000 in a tax cut you might get, right?”

Florida TaxWatch estimates Amendment 3 would cut $45.8 billion in property taxes statewide from 2027 to 2032.

Read more Florida renters may pay more in rent if Amendment 3 passes, study finds

This story was originally published October 24, 2026 at 5:00 AM.