Florida GOP endorses constitutional amendments for November ballot

The Republican Party of Florida has endorsed two constitutional amendments, Amendment 1 and Amendment 3, which will appear on the November 3 general election ballot.

Amendment 1 seeks to expand the state’s Budget Stabilization Fund by increasing the amount that can be retained from 10% to 25% of net general revenue collections. This measure is intended to prepare the state for emergencies, such as hurricanes, and economic downturns.

Amendment 3 proposes increasing the homestead exemption for non-school property taxes to $150,000 in 2027 and $250,000 in 2028, with subsequent inflation adjustments. The amendment also aims to reduce the annual cap on assessment increases for certain non-homestead properties from 10% to 5%. While supporters argue the measure provides property tax relief and encourages government efficiency, critics suggest it could shift the tax burden to renters and businesses or impact funding for local public services like police and infrastructure.