Politics · United States · 13 hrs ago
Florida voters to decide three tax and budget amendments
Florida voters will decide on three constitutional amendments on Nov.
3.
Amendment 1 would raise the state budget reserve’s limit from 10% to 25% of net general revenue and direct deposits of up to $750 million a year until it reaches that level.
The reserve could help cover critical state needs, though lawmakers could also pause deposits or withdraw money in certain circumstances.
Amendment 2 would exempt qualifying farm equipment from property taxes, a change supporters say would help agriculture.
Amendment 3 would increase homeowners’ tax exemption for non-school district taxes to $150,000 in 2027 and $250,000 in 2028.
Supporters say the changes could ease costs, while opponents warn they may reduce revenue for local services.
Each amendment needs at least 60% approval to pass, and initial tax changes would take effect on Jan.
1, 2027, if approved.
Florida voters will decide three constitutional amendments on Nov. 3 affecting state reserves and property taxes.
Amendment 1 would raise the cap on the state Budget Stabilization Fund from 10% to 25% and direct annual deposits of up to $750 million.
Amendment 2 would exempt qualifying farm-related equipment and other tangible personal property from property taxes.
Amendment 3 would expand the homestead exemption for non-school district property taxes, reaching $250,000 in 2028.
Each amendment needs at least 60% approval to pass.
- Who
- Florida voters.
- What
- They will vote on three proposed constitutional amendments concerning the state reserve fund and property taxes.
- When
- Nov. 3, 2026.
- Where
- Florida.
- Why
- The measures would change state reserve funding and tax policies for homeowners, farmers and business owners.
Supporters
Critics
Amendment 1
Supporters
Supporters say expanding the reserve strengthens Florida’s financial safety net.
Critics
Critics say the money would be better spent on current needs.
Amendment 2
Supporters
Supporters say the tax exemption would help farmers and the agriculture industry.
Critics
Opponents say it could reduce revenue for local services.
Amendment 3
Supporters
Supporters say the larger homestead exemption would provide relief for homeowners and limit government spending.
Critics
Opponents warn it could reduce local revenue.
Early voting ended in Martin and Okeechobee counties.
Early voting was scheduled to end in St. Lucie, Indian River and Palm Beach counties.
Florida voters are due to decide the three amendments.
- Amendment 1 fund cap
- Would rise from 10% to 25% of net general revenue collections.
- Amendment 1 deposits
- Up to $750 million a year.
- Amendment 2
- Exempts qualifying agricultural equipment and other farm-related tangible personal property from property taxes.
- Amendment 3 exemption
- $150,000 in 2027 and $250,000 in 2028.
- Passage threshold
- At least 60% approval for each amendment.