Florida voters to decide on DeSantis-backed property tax amendment

Florida voters will face a significant decision on November 3 when they vote on Amendment 3, a constitutional reform championed by Governor Ron DeSantis. This amendment aims to reshape the state's property tax system, primarily by expanding the homestead exemption for primary residences.

“

These data reflect the resilience of our exporting sector and the strength of an increasingly diversified offering, both in products and markets, which allows Costa Rica to respond to changes in international trade and continue generating growth opportunities.

The proposed change, officially titled "Save Our Homes from Excessive Property Taxes," would significantly increase the exemption amount. For homeowners who meet the criteria by December 31, 2026, the exemption for non-school district taxes would rise to $150,000 starting January 1, 2027, and further increase to $250,000 from January 2028. This $250,000 cap would then be adjusted annually for inflation starting in 2029. The amendment also proposes to lower the annual cap on taxable value increases for certain non-homestead properties from 10% to 5%.

“

Despite the challenges facing the export sector, we observe growth in our exports, but it is equally important to observe how our sectors are responding to changes in international trade.

However, the reform is not without its critics. The Florida Policy Institute estimates that the measure could lead to a substantial reduction in revenue for local governments, potentially reaching $12 billion over two fiscal years. This projected shortfall raises concerns about the impact on funding for essential public services. Supporters, including Governor DeSantis, argue that the amendment is crucial for alleviating the property tax burden on Floridians.

“

That capacity for diversification is fundamental to reduce risks and strengthen the resilience of our export sector.