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Voters to Choose Amendment 3 Property-Tax Cut Nov 3

7/31/2026

Summary

Story summary

Voters will decide Amendment 3 on Nov. 3, which would raise the homestead exemption to $150,000 in 2027 and $250,000 in 2028.
It caps assessment increases for rental, commercial and second-home properties at 5% and would cut property-tax revenue by $11.8 billion annually.
Proponents say it lowers homeownership costs while opponents warn it could raise other taxes or cut services, prompting some local governments to raise millage rates on non-homestead properties.

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Story summary

Voters will decide Amendment 3 on Nov. 3, which would raise the homestead exemption to $150,000 in 2027 and $250,000 in 2028.
It caps assessment increases for rental, commercial and second-home properties at 5% and would cut property-tax revenue by $11.8 billion annually.
Proponents say it lowers homeownership costs while opponents warn it could raise other taxes or cut services, prompting some local governments to raise millage rates on non-homestead properties.