Florida Legislative Update: Historic Property Tax Reform Package Passed

The Florida Legislature passed a historic property tax reform package, placing Amendment 3 on the November 3, 2026, ballot. If approved by 60% of voters, it will deliver the largest tax cut in state history by raising primary residence homestead exemptions up to $250,000 by 2028 and cutting non-homestead assessment growth caps to 5%. School district levies are excluded to protect education funding, and a five-year residency rule applies to new transplants.