Amendment 3 Would Raise Homestead Exemption to $250,000 by 2028

South Florida officials gathered Monday at Versailles in Miami for a conference about Amendment 3, a proposed property-tax measure.

The proposal would increase the homestead exemption from $50,000 to $150,000 in 2027 and to $250,000 in 2028. It would also lower the annual cap on assessed-value increases for properties without the homestead exemption from 10% to 5%. The changes would not apply to taxes that fund schools.

Amendment 3 would require at least 60% voter approval to pass.

Miami Talks