Florida property‑tax amendment could slash local government revenues by $5 billion a year

A constitutional amendment placed on Florida’s November ballot would raise the homestead exemption from $50,000 to $150,000 in 2027 and $250,000 in 2028, while cutting the cap on annual assessment increases for non‑homestead properties from 10 % to 5 %. State economists project that, if approved, the measure would reduce city, county and special‑district revenues by nearly $5 billion in its first year and by about $12 billion by the fifth year. The amendment requires a 60 % voter approval threshold.

Governor Ron DeSantis promoted the proposal as the biggest property‑tax cut in Florida history, citing relief for homeowners amid rising home values. Local officials warned that the cuts would jeopardize funding for core services such as public safety, education and infrastructure, especially in small, rural jurisdictions. An activist group and two former elected officials have filed a lawsuit alleging the ballot summary is misleading, though a court ruling would not automatically remove the measure from the ballot.