Florida headlines are shouting that property taxes have been slashed, but before anyone celebrates, one fact matters most: as of today, zero property tax laws have actually changed. What the headlines describe is Amendment 3, officially House Joint Resolution 1F, a proposed constitutional amendment on the November 3rd, 2026 ballot that needs a 60% supermajority to pass, and would only take effect January 1st, 2027 if it does. The centerpiece is a super homestead exemption that would raise the non-school exemption to $150,000 in 2027 and $250,000 in 2028 before indexing to inflation, dramatically cutting the taxable value of primary homes, while the annual assessment growth cap on rentals and commercial property would drop from 10% to 5%. The catches are significant: school taxes are completely untouched, new out-of-state buyers face a five-year residency wait, and the change would pull an estimated $4.6 billion to $8.4 billion out of city and county budgets in the first two years, leaving local governments likely to claw the money back through higher fees, utility rates, permit costs, and code enforcement fines. The bottom line is a net positive on paper for established homeowners and commercial investors, but not the overnight cost-of-living cure it is being sold as, particularly since it does nothing to address Florida’s property insurance crisis.<\/p>\n\n\n\n