Tallahassee Real Estate Newsletter | October 19, 2026

I Should Love This Tax Amendment. Here’s What Stops Me

I should be the biggest fan of the property tax amendment on this fall’s ballot. I work in real estate, and lower property taxes make homes more affordable, which is good for my industry. So part of me is for it, and you should know that before you read another word.

Florida votes on Amendment 3 on November 3, and it needs 60% of the vote to pass. It raises the homestead exemption on everything but school taxes to $150,000 in 2027 and $250,000 in 2028, on a path to ending those taxes on homesteads.

Not everyone would get the break right away. People who move to Florida after January 1, 2027, would wait five years for the larger exemption, so the savings go first to people who already live here.

What Would It Do to a Tax Bill?

I ran the numbers for a current owner in the city whose home would sell for about $364,000.

At today’s tax rates, that owner’s bill drops from $3,185 this year to $992 in 2028. School taxes stay, so it never reaches zero.

Where Would the Money Come From?

Don’t look at that chart without asking yourself one question. How are they going to get the rest of the tax money from me?

Leon County expects to lose $45.4 million in the first year and $75.1 million in the second. The City of Tallahassee expects to lose $11.3 million, then $18.5 million. The county says the state has not named a dependable, steady source to replace that money.

Where I Stand

I don’t think anyone has a plan to replace it, and I expect a hard reaction if it passes. I also haven’t studied it enough to know how I will vote. Before I decide, I’m going to talk with people who know the budgets better than I do.

Sources: Leon County, City of Tallahassee, Leon County Property Appraiser and Florida Department of Revenue. The tax example holds 2025 tax rates and the home’s assessed value steady.

This morning’s article adds property tax and homeowners insurance to the loan payment in all 50 state capitals, so you can see where Tallahassee really lands: Most Affordable State Capitals Once Taxes Are Counted.