Florida Tax Watch Tool Estimates Amendment 3 Savings for Central Florida Homeowners

The nonprofit Florida Tax Watch released a digital resource center on Sunday to help Central Florida homeowners calculate potential property tax savings under Amendment 3. The tool allows users to input their specific county, city, and water management district to generate estimated savings figures for the 2027 and 2028 tax years.

Amendment 3 proposes a new homestead exemption structure for non-school taxes. If approved, the amendment would exempt the first $150,000 of a home's assessed value from non-school property taxes in 2027. That exemption amount would increase to $250,000 in 2028 and remain indexed to inflation in subsequent years.

The proposed changes would not apply to school property taxes, which would continue to be assessed on the full value of the home. Homeowners with an assessed value at or below the exemption threshold would owe zero in non-school property taxes to local governments in the specified years.

The exemption benefits apply to individuals who are permanent Florida residents before the amendment takes effect on January 1, 2027. New residents must wait five years of residency to qualify for the full exemption amount during their initial period in the state.

Voters will decide the fate of the amendment on Tuesday, November 3. The measure requires at least 60% of the vote to pass. Proponents argue the plan reduces an undue financial burden on homeowners, while critics warn that reduced revenue could strain local funding for services such as police departments and libraries.

Florida Realtors are spending $18 million to support the passage of Amendment 3. The organization argues that local spending levels have grown too high. The Florida Tax Watch tool provides a specific breakdown for properties valued over $250,000, allowing owners to see the exact dollar amount they might save in their jurisdiction.