On Tuesday, November 3, Florida voters will find on their ballot three amendments to the state constitution: one concerning the state's budget reserve, another regarding agricultural taxes, and a third on property tax. For any of them to be approved, they need at least 60% of the votes cast on that proposal.
Amendment 1: the state emergency fund
It would raise the limit of Florida's budget stabilization fund from 10% to 25% of general revenue. It would also require an annual transfer to that reserve of up to 750 million dollars, or the lesser amount needed to reach the 25% limit, except for the exceptions provided in the proposal.
The money would be used to address emergencies, drops in income, and other critical needs of the state, under the conditions established in the Constitution.
Voting YES would allow for a larger reserve to be accumulated and would establish new contribution obligations. Voting NO would maintain the current limit of 10% and the existing rules for the fund.
The proposal also includes the possibility for the Legislature to suspend certain transfers or withdraw funds for critical needs, with specific approval requirements. In the fiscal year 2024-2025, the fund accounted for 9.3% of the total revenue.
The measure received strong legislative support: 100 votes in favor and one against in the House of Representatives, and 29 in favor compared to four in the Senate.
Amendment 2: tax relief for the agricultural sector
It would exempt certain tangible movable property, such as machinery and equipment, typically located on land classified as agricultural and used for agricultural production or agrotourism activities from property tax.
To qualify for the exemption, the assets must belong to the owner or tenant of the agricultural land. If approved, the measure would begin to take effect for fiscal years starting on January 1, 2027.
Voting YES would reduce the tax burden on farmers and agritourism operators who meet the requirements. Voting NO would maintain the current tax treatment.
The reduction in taxes would also mean less revenue for local governments and school districts that currently collect from those goods, potentially impacting the budgets of rural communities.
Amendment 3: changes to the property tax affecting Miami-Dade
It is the proposal that has sparked one of the most intense debates, with conflicting positions among Miami-Dade officials regarding its potential consequences for property owners, tenants, and public services.
The amendment, which would come into effect on January 1, 2027 if approved, includes several changes:
- Major homestead exemption: would raise the exemption on the value of the primary residence applicable to non-school taxes to $150,000 in 2027 and to $250,000 in 2028, with subsequent adjustments for inflation.
- Lower growth of appraisals: it would reduce the annual limit on the increase in the appraised value of properties that do not qualify as primary residences from 10% to 5%, such as second homes, rental properties, and commercial spaces.
- New conditions for residents: Individuals who are not residents of Florida as of December 31, 2026, may qualify for the existing homestead exemption once they meet their requirements, but the extension would start to apply from the fifth year of exemption, as permitted by the Constitution of the United States.
- Additional local exemptions: the Legislature would need to establish a uniform procedure allowing counties and municipalities to extend their respective exemptions up to the full assessed value of the home. Special districts could also do so, subject to approval through a referendum.
- Restrictions on the use of taxes: counties and municipalities would have to allocate the revenue from the property tax to categories such as public safety, education, infrastructure, natural resources, debt repayment, employee retirement benefits, and administrative operations. The proposal allows for the authorization of other expenditures through the established mechanisms, unless legally prohibited.
Voting YES would approve these amendments, which could significantly reduce the tax bill for certain primary residence owners.
According to estimates cited by Florida TaxWatch, a homeowner with a homestead exemption in Miami-Dade could save approximately $1,500 annually, although the benefit would depend on the assessed value of the property and the applicable taxes.
The Miami-Dade property appraiser, Tomás Regalado, presented an example where a home with a current tax bill of 6,000 dollars would pay approximately 4,300 dollars in the first year and 3,000 in the second.
Voting NO would maintain the current constitutional provisions and prevent the projected reductions in revenue resulting from the approval of the proposal.
Among the estimates released regarding Miami-Dade are potential losses ranging from $359 to $445 million annually for the county. These figures are projections and do not represent a loss that has already occurred.
The mayor Daniella Levine Cava has warned about the consequences that a decrease in revenue could have on public safety, emergency response, roads, parks, and libraries.
For tenants, the situation is different. An analysis by Tax Foundation projects that the tax on apartment buildings could increase by about $406 annually by 2028, and the corresponding tax on rental homes could rise up to $1,081.
Some of those costs could be passed on to tenants, although there is no automatic relationship between the increase in taxes and the final rental price.
An important piece of information for newly arrived Cubans: those who are not Florida residents as of December 31, 2026, and subsequently purchase a primary residence may qualify for the ordinary homestead exemption upon meeting the requirements, but they would need to wait until the fifth year of exemption to benefit from the expansion, provided that this restriction is compatible with the federal Constitution.
The debate has also divided the Republican lawmakers themselves.
The President of the Florida Senate, Ben Albritton, announced that he will vote against Amendment 3, despite having previously supported the proposal reaching the ballot.
In addition to the three state constitutional amendments, Miami-Dade voters will decide on seven local county referendums.
Those planning to go to the polls can also check the guideline on identification documents required to vote on November 3rd.
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