Property tax is dropping in Florida: Exemption rises to $250,000

Florida voters approved Constitutional Amendment 3 with 62% support, clearing the 60% threshold needed to raise the homestead property tax exemption to $250,000, up from the current level. The measure reduces property taxes for homeowners as the exemption increases. The result matters because it locks the change into the state constitution, limiting lawmakers' ability to alter it and shifting a larger share of local revenue burdens onto non-homestead properties and local budgets. Watch next for county and municipal revenue forecasts and any pushback over funding for schools and services.