Your MoneyFriday, November 6
Amendment 3 passed, and homeowners with a homestead exemption don't need to do anything
The 5AM Miami Gardens team
Florida voters said yes to lower property taxes. Amendment 3 won about 62% of the vote Tuesday, clearing the 60% it needed, and it carried Miami-Dade with more than 65%.
Amendment 3 cleared the 60% it needed with about 62%
62%Share of voters who backed Amendment 3
Source: Miami Herald
View as table
| Value | |
|---|---|
| Share of voters who backed Amendment 3 | 62% |
| Needed to pass | 60% |
If you already have a homestead exemption, you don't have to do anything. Property appraisers in Miami-Dade and Broward say their offices will adjust the numbers automatically. The exemption grows in 2027 and again in 2028, but it only applies to non-school property taxes.
- New Florida residents: establish residency by Dec. 31
- Existing residents and first-time applicants: primary residence by Jan. 1
- Miss Jan. 1: wait another year for the increase
- Late applications: an extension is available through September
Property Appraiser Tomás Regalado says Miami-Dade's cut will be $353 million the first year and likely around $500 million the second. In Miami-Dade, Regalado says that as long as exemptions are set up by March, the new exemptions will show on next fall's bill. Cities, meanwhile, worry about paying for services.
Sources: Miami Herald, CBS Miami, WSVN, WPLG Local 10