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Amendment Recommendations

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AMENDMENT GUIDE
Vote411 Voter Guide – Florida Proposed Amendments
General Election – November 3rd, 2026

Florida Amendment 1- Budget Stabilization Fund
Ballot Language:
Proposing an amendment to the State Constitution to increase the amount of funds that may be retained in the
budget stabilization fund from 10% to 25% of general revenue collections, require the legislature to transfer the
lesser of $750 million or the amount required to reach 25% of the general revenue collections each year unless
certain conditions are met, and allow the legislature to withdraw funds for critical state needs.
Synopsis:
This amendment is proposed by the Florida State Legislature. It will amend Article III, Section 19. The term
“revenue collections” refers to the last completed fiscal year’s net revenue collections for the general revenue
fund.
This proposed amendment passed the House 100-1 and the Senate 29-4

Budget stabilization funds (BSF) are a form of savings account where states can place revenue, such as tax
receipts, that will be used to finance unexpected budget deficits or emergencies. All 50 states have some form
of a budget stabilization fund. The Florida BSF was created in 1992 after 83% of voters approved the
Constitutional Amendment. The constitution requires that the balance of the Florida BSF not fall below 5% of
revenue collections. The maximum balance allowed for the Florida BSF is 10% of the revenue collections. For
example, for fiscal year 2024-2025, the amount in the BSF was 9.3% of the state’s revenue collections. The
last time that Florida withdrew more money from the BSF than it deposited was in 2008 during the Great
Recession.

This proposed amendment would increase the maximum amount of funds that can be retained in the Florida
BSF, changing the limit to 25% of annual revenue collections. The legislature would also be required to transfer
funds into the BSF each year. The amount transferred would be either $750 million, or however much is
needed to bring the fund up to the 25% limit, whichever is less.
Under this amendment, funds could only be withdrawn from the BSF under three conditions:
1. The legislature passes a bill to withdraw funds to pay the expenses associated with an emergency.
2. The legislature passes a bill to withdraw funds to cover a shortfall in revenue, such as less than
anticipated sales tax receipts.
3. The legislature determines there is a nonrecurring critical state need, the principal balance of the BSF
is greater than 15% of state revenue collections, and two-thirds of the legislature approves the
withdrawal of funds.

This amendment would also allow the legislature to suspend the annual revenue transfer to the fund under
either of the following circumstances:
1. No more than once every five years, the legislature determines that there is a critical state need that
requires funding in an amount exceeding what would have been transferred into the BSF, and
two-thirds of the legislature approves the suspension of the transfer.
2. The legislature withdraws funds from the BSF during the same fiscal year for an emergency or revenue
shortfall.
The fiscal impact on the state is indeterminate, but likely insignificant.
Opponents Florida Education Association, LWV of Florida
Supporters Florida Legislature (House 100-1, Senate 29-4), Florida GOP

A Yes Vote Would...: increase the amount of funds held in the Budget Stabilization Fund from 10% to 25% of
revenue collections. Require an annual transfer to the fund equal to $750 million or 25% of the revenue
collections (whichever is lesser). Define how money can be withdrawn from the fund. Allow the legislature to
suspend the transfer under certain conditions.
A No Vote Would...: keep the maximum allowable amount of funds in the Budget Stabilization Fund at 10% of
revenue collections.

Florida Amendment 2- Exemption of Tangible Personal Property on Agricultural Land from Taxation
Ballot Language:
Proposing an amendment to the State Constitution to exempt tangible personal property habitually located or
typically present on land classified as agricultural, used in the production of agricultural products or for
agritourism activities, and owned by the landowner or leaseholder of the agricultural land from ad valorem
taxation. If approved this amendment would first apply for tax years beginning January 1, 2027.

Synopsis:
This amendment is proposed by the Florida State Legislature. It will amend Article VII, Section 3. It passed the
House 110-1 and the Senate 37-0.

This proposed amendment would exempt the value of certain tangible personal property (such as farm
equipment or tools) used in agriculture or agritourism from ad valorem property taxes, if the property:
1. is habitually located or typically present on agricultural land.
2. is used for producing agricultural products or for agritourism and owned by the landowner or
leaseholder of the agricultural land.

Tangible personal property (TPP) refers to physical, movable assets such as furniture, machinery, tools, and
equipment. Businesses pay property taxes on equipment used in the business, except for certain exempt
categories - including motor vehicles, household goods, and the first $25,000 of TPP value for each taxpayer.

The Florida Legislature’s Bill Analysis & Fiscal Impact Statement states that the Revenue Estimating
Conference estimated this amendment, if approved by voters, will have a negative recurring impact on local
government revenues of $31 million, beginning in Fiscal Year 2027-28.
Opponents Florida Education Association, LWV of Florida
Supporters Florida Legislature (House 110-1, Senate 37-0), Florida GOP

A Yes Vote Would...: exclude tangible personal property, such as farm equipment or tools, from the
calculation of property taxes if the property is typically present on agricultural land, used for farming or
agritourism activities, and owned by the landowner or leaseholder of the land.
A No Vote Would...: continue to include tangible personal property, such as farm equipment or tools, in the
calculation of property taxes if the property is typically present on agricultural land, used for farming or
agritourism activities, and owned by the landowner or leaseholder of the land.


Florida Amendment 3- Increased Homestead Exemption; Lower Cap on Increases in Non-Homestead
Property Assessments
Ballot Language:
This amendment increases the homestead exemption, for all non-school taxes, to $150,000 in 2027 and
$250,000 in 2028, and adjusts for inflation thereafter. It requires the Legislature to prescribe a uniform
procedure for counties and municipalities, for their respective levies, to increase the homestead exemption up
to full assessed value, and allows special districts, subject to referendum approval, to do the same. Persons
who are not Florida residents on December 31, 2026, will receive the existing homestead exemption upon
qualifying for a homestead exemption, with the increased homestead exemption beginning with the fifth year of
exemption, to the extent permitted by the U.S. Constitution. This amendment reduces the annual cap on
assessment increases for non-homestead properties from 10% to 5%.This amendment requires counties and
municipalities to use property taxes solely for public safety, education and schools, infrastructure, natural
resources, bond debt service, retirement benefits for employees, and operations and administration. Other
expenditures may be approved by county officers or county or municipal governing bodies unless prohibited by
general law, notwithstanding Article VII, Section 9(a) of the Florida Constitution, which allows counties and
municipalities to levy property taxes for their respective purposes. This amendment takes effect January 1,
2027.

Synopsis:
This amendment is proposed by the Florida State Legislature. This amendment passed 75-27 in the House (16
not voting) and 30-8 in the Senate (2 not voting).

This amendment would revise Article VII Sections 4, 6, and 9 and create new Article XII - Save Our Homes
From Excessive Property Taxes. If passed, it would become effective January 1, 2027.
Ad valorem and Non-ad valorem Taxes: Tax bills have ad valorem taxes, which are based on a property's
assessed value. These are referred to as “property taxes.” Tax bills also have non-ad valorem taxes, which are
flat fees that are collected to pay for specific local services or infrastructure improvements. This amendment
only alters ad valorem taxes.

Millage Rates: The Florida Constitution caps property tax millage rates for local governments at 10 mills. One
mill equals $1 of tax for every $1,000 of assessed property value. So a rate of one mill on a $200,000 house
equals $200. Examples of current rates in Florida municipalities:
● City of Miami: 7.5539 mills
● City of Tampa: 6.2076 mills
● City of Orlando: 6.6500 mills

“Permanent residence” is defined as the place a person considers their permanent home to which, whenever
absent, they will return.
For homeowners who permanently reside on their property (house or condominium), there is a portion of the
home’s assessed value that is not subject to ad valorem taxes or “property taxes.” This is known as the
“homestead exemption.” Currently, the first $25,000 of assessed value is exempt from all property taxes,
including those levied by school districts. An additional $25,000 of assessed value is exempt from all property
taxes except those levied by school districts. This additional $25,000 exemption applies to the assessed value
of homestead property valued between $50,000 and $75,000.

The bill passed by the Legislature (CS/HJR 1F) is summarized below.
● For homeowners with homesteaded property established by December 31, 2026, the homestead
exemption for all property taxes, except those levied by school districts, would increase to:
○ up to $150,000 of the assessed value beginning on January 1, 2027.
○ up to $250,000 of the assessed value beginning on January 1, 2028.
● Homesteads established on or after January 1, 2027 are only eligible for these changes after
establishing residency status for five years. After the fifth year, these homesteads are eligible for the
maximum $250,000 exemption.
● For homeowners with less than 5 years of homestead exemption, up to $25,000 of assessed value is
exempt from all property taxes and an additional $25,000 is exempt from all property taxes, except
non-school tax levies.
● The new exemption values will be adjusted annually for positive inflation growth beginning January 1,
2028.
● For non-homestead residential property (own home, but not permanent resident) and non-residential
property, the maximum increase in annual property assessment used to determine property taxes is
reduced from 10% to 5%, beginning January 1, 2027.
● Requires the legislature, through general law, to establish a procedure for counties and municipalities to
schedule for further exemption of property taxes on all homestead property up to remaining assessed
value, if a county or municipality chooses to do so.
● Property tax levied by counties and municipalities is limited to only cover expenditures to:
○ Provide for public safety, including law enforcement, fire service, and emergency medical
service;
○ Provide funding for education and public schools;
○ Finance or refinance infrastructure, including expenditures on road and bridge construction and
maintenance and stormwater control;
○ Finance or refinance natural resource projects, including flood control measures;
○ Issue local bonds for uses consistent with the approved used above and to make debt service
payments for existing obligations;
○ Meet obligations for retirement benefits of local government employees;
○ Fund the operations and administration of county officers and commissioners established under
Article VIII of the Florida Constitution and municipalities, and the expenditures approved by such
county officers or county or municipal governing bodies, except those expenditures prohibited
by general law.

A Balancing Act
Permanent residents with homestead property will receive significant property tax relief due to a permanent
increase in the homestead property exemption amount. By January 1, 2028, a home valued at $250,000 or
less will pay no ad valorem property taxes, except for those taxes levied by school districts. Owners of
non-homesteaded property will also receive a property tax break because the amount their property
assessment can increase each year is reduced from 10% to 5%, which reduces their property taxes.

However, this means that local governments, county and municipalities, will receive significantly less revenue
to fund government services that these same residents use. Since this amendment also dictates how property
taxes are spent by counties and municipalities, local governments are further constrained in how they manage
their budgets.

The Revenue Estimating Conference analysis (under the Florida Legislature) dated June 12, 2026 states local
governments could expect nearly $5 billion less revenue in 2027-2028. That number is estimated to
increase to $8.8 billion in 2028-2029, $9.7 billion in 2029-2030, $10.7 billion in 2030-2031 and $11.9 in
2031-2032 . These values do not take into consideration the total loss in revenue if a county or municipality
reduces property tax exemptions for homestead property even further.

Impact of the increased property tax exemptions:
● Moody's, Fitch and S&P Global Ratings all expect greater credit pressure for local governments if
voters approve the proposed property tax amendment.
● The amendment would significantly decrease future revenue collection by counties and municipalities,
which would constrain overall growth of local government.
● The original proposed trust fund was eliminated from the final legislation, leaving no safety net for the
29 fiscally constrained counties or lapsed critical services. FL Dept of Revenue's List of Fiscally
Constrained Counties
● Adversely impacts counties, municipalities, and special districts like Children’s Services Councils,
Hospital Districts, Mosquito Control Districts and Water Management Districts.
● Services like public parks, public transportation, recreation centers, health services, public landscaping,
environmental resources would lose millions of dollars needed to provide those services. This will force
municipalities to either cut services or monetize services such as increase parking rates and charge
entrance fees for parks & recreation centers.
● Public libraries are funded primarily through local property taxes and serve more than 23 million
Floridians through 541 library locations, 22 bookmobiles, millions of annual visits, workforce
development programs, digital access services, literacy initiatives, and educational programming.
Shifting How Tax Revenue May Be Collected:
The revenue loss would have to be offset by increasing taxes and fees and/or making budget cuts, effectively
leading to a cost shift as Floridians either pay more in other ways or lose vital public services.
● Increase Property Taxes: Local governments can still make up the revenue shortfall by increasing
property taxes on homestead and non-homestead properties. Because apartment buildings and rental
houses fall into the category of non-homestead properties, landlords are likely to pass these added
costs onto tenants in the form of higher rent. Commercial property owners will have higher overheads
costs for their businesses.
● Non-ad valorem Taxes: These taxes are not tied to property values, which means they are not
affected by this amendment. Counties and cities could make up the loss in funds resulting from higher
homestead exemptions by relying more heavily on these revenue sources, which can include local
sales taxes, motor fuel taxes, tourist development taxes and utility taxes (water, sewage, garbage).
Additionally, local governments could pass ordinances to increase or create new fees to raise money.
For example, fire protection services currently paid for by property taxes could be shifted to a fee-based
system.
● Special Assessments: Homeowners may still receive a property tax bill to pay for special
assessments, which may now occur more often. Assessments are one time fees issued to cover
unexpected expenses or major projects.
● Impact Fees: Impact fees are charged to new real estate developments to cover the cost of expanding
public infrastructure (such as schools, roads, and emergency services). Cities and counties facing
constrained property tax budgets will likely look to maximize or restructure their impact fee schedules to
shift the financial burden of new growth onto developers.
● Monetizing City Assets (naming rights, billboards or advertising) may be another way counties and
municipalities could raise revenue to cover the shortfall due to decreased property tax revenue.

Click HERE to view the City-level impact statement issued by the Florida League of Cities: City-Level Impact
Statement

Click HERE to view the County-level impact statement issued by the Florida Association of Counties:
County-Level Impact Statement

Opponents: Florida Tax Watch, Florida Policy Institute, Florida for All, Florida PTA, Florida State Director of
MomsRising/MamásConPoder, Southern Poverty Law Center, Florida League of Cities, Florida Assoc. of
Counties, Florida Rising, Florida Education Assoc., Pastors for Florida’s Children, SEIU Florida State
Council/SEIU 1991, The Tax Foundation, Florida Student Power, Editorial Boards of the Wall Street Journal,
Washington Post, Miami Herald, Orlando Sentinel, Palm Beach Post and Sun-Sentinel, Vote No On 3, 3º
Degrees Florida, Floridians for Shared Prosperity, League of Women Voters of Florida, Florida Professional
Firefighters, Florida Fraternal Order of Police, Florida Fire Chiefs Assoc., Florida Festivals and Events Assoc.,
Catalyst Miami, Community Spring, EduVoter Action Network, Equal Ground Education Fund, Families for
Strong Public Schools & Voters for Strong Public Schools, Florida AFL-CIO, Florida Voices for Health, NAACP
FL State Conference, Progress Florida, UnidosUS, 1,000 Friends of Florida, FL Rural Economic Development
Assoc. FL chapter of the American Planning Assoc., Florida Engineering Society, American Council of
Engineering Companies of Florida, Florida Assoc. of County Engineers & Road Superintendents, Florida Fire
Marshals & Inspectors Assoc, Florida Library Assoc., Florida Assoc. of Special Districts, Federation of
Manufactured Home Owners of FL, FL Sheriffs Assoc, FL Recreation & Park Assoc., Audubon Florida, Florida
Democratic Party.

Supporters: Florida Realtors Board of Directors, Florida Legislature (75-27 House, with 16 not voting); 30-8
Senate, with 2 not voting), Florida GOP

A Yes Vote Would...: increase the current homestead property exemption from $50,000 to $150,000 effective
January 1, 2027, and then increase to $250,000 effective January 1, 2028. Lower the annual cap increase on
non-homestead property from 10% to 5%. Allow the legislature to dictate how counties and municipalities
expend tax revenue.
A No Vote Would...: Keep the current property tax structure in place.