Amendment 3 Could Cut Miami Property Taxes
The proposed tax changes could save average Miami-Dade homeowners $2,500 annually by 2028.
Updated on Oct. 22, 2026 in Commercial
Live Poll
Do you support expanding homestead tax exemptions to lower your property tax burden?
Governor Ron DeSantis held a roundtable in Miami on October 22, 2026, to promote Amendment 3, a proposal that would provide property tax relief. The plan seeks to expand the homestead exemption and lower caps on assessment increases for non-residential properties.
Why it matters
Amendment 3 aims to address rising property tax burdens for homeowners and small businesses as state revenues have grown from $32 billion in 2019 to $60 billion today. The proposed tax changes seek to offset these costs by adjusting assessment caps and expanding exemptions.
Amendment 3 would expand the homestead exemption to $150,000 by 2027 and $250,000 by 2028. It also reduces the annual assessment increase cap for non-residential properties from 10% to 5%.
The players
Ron DeSantis
The Governor of Florida who has focused on state-wide property tax relief initiatives.
The details
Amendment 3 functions by raising the threshold at which homeowners qualify for property tax exemptions, which directly reduces the taxable value of a primary residence. For non-residential property owners, the measure limits how quickly tax assessments can rise annually, shifting the cap from 10% to 5%. These changes represent a policy-driven effort to control the growth of tax liabilities in local housing and commercial markets.
Timeline
October 22, 2026: Governor DeSantis hosted a roundtable in Miami.
2027: Planned expansion of the homestead exemption to $150,000.
2028: Planned expansion of the homestead exemption to $250,000.
The Home Front
This proposal reflects a broader effort to counteract the rapid rise in property tax revenues that have climbed to $60 billion across the state. It marks a significant shift in fiscal policy aimed at curbing the local tax impact of rising general fund spending.
Miami homeowners should review their current property tax assessments and evaluate how a potential $250,000 exemption would change their future annual costs. Tracking this legislative progress is essential for long-term household budget planning.
The takeaway
Amendment 3 offers potential tax relief for property owners that could significantly lower annual bills starting in 2027. Review your property tax records and stay informed on upcoming voter decisions that may affect your assessment value.
Further reading
Learn more about local business and property trends in our Commercial section.
Live Poll
Do you support expanding homestead tax exemptions to lower your property tax burden?
