I confess, there is a lot I don’t understand about Proposed Amendment 3, the Property Tax Homestead Exemption which will appear on the ballot on November 3rd. Abigail Hall, a professor of Economics at University of Tampa recently authored an article which looks at both sides of the issue in The Conversation. A portion of the article is published here:
Florida’s proposed property tax amendment will require trade‑offs – and some residents could end up with higher costs
Published: July 30, 2026 8:15am EDT Updated: July 30, 2026 6:30pm EDT
Between inflation, rising car and property insurance premiums and the costs of contending with extreme weather, many Florida homeowners are feeling financially squeezed.
While the ballot box can’t change the risk of floods or hurricanes, a constitutional amendment on the November ballot could reduce homeowners’ costs in the form of lower property taxes. Sixty percent of voters must approve the amendment in order for it to become part of the Florida Constitution.
The average home in the state is worth about US$378,000 as of July 2026, with the median sale price slightly higher, at around $395,000. This corresponds with property taxes of just over $3,000 annually. Floridians in more expensive houses may pay double – or more – than the taxes on a median-priced home.
As an economist living in Florida, I’ve spent the past decade teaching about the economics of government and public finance, analyzing and breaking down policy, policy proposals and their impacts on the Sunshine State.
It can be difficult to navigate all the conflicting information and argumentation surrounding this proposed amendment, so I wanted to dig into what it would mean for Florida residents.
