Florida voters approved Amendment 3, which will reduce property taxes for many Florida homeowners starting next year.
It needed at least 60% of the vote, and it got around 62%.
What now? Here's what Floridians need to know:
ALSO READ: Florida's Amendment 3 could slash property taxes — and reshape local services
What does Amendment 3 do?
The tax reduction will affect homestead exemptions on the property taxes that don't go toward schools.
By next year, most homeowners will not have to pay those taxes on the first $150,000 of their house's assessed value. That's roughly three times what it is now. The current exemption is about $50,000, but the first $25,000 exempts all property taxes, including those going to school districts.
The exemption goes up to $250,000 the following year and can be adjusted for inflation later.
Amendment 3 also affects non-homestead properties, like businesses and rental units. Right now, the taxable value of those properties can rise by as much as 10% a year. The amendment will cut that in half.
Those who move to Florida starting next year won't receive the new, expanded homestead exemption until their fifth year of receiving the old one.
What effect will it have?
First off, many Florida homeowners are going to see savings. How much? Click here for a source that'll help calculate it for residents.
But the effects won't be immediate: "The proposed amendment would not affect 2026 property tax bills; all assessments, exemptions, and calculations for the 2026 tax year will follow existing Florida law," reads a Leon County Property Appraiser webpage.
But what residents are saving is what local governments are losing.
A state economic analysis predicted local governments could lose nearly $5 billion from Amendment 3's passage. Those losses would rise to approach $9 billion the next year, with an eventual recurring impact of nearly $12 billion.
"You're going to see cuts to local services and programs, or you're going to see tax increases," said Jackson Peel, the communications director for Save Our Services - No on 3. "And each individual community is going to have to decide which one of those or what combination of the two it is going to be able to do."
He said the state and local governments "need to do everything they can to make sure that the service cuts and the tax increases do not fall onto working Florida families and seniors."
ALSO READ: Amendment 3 could reduce funding for Florida children's services, report warns
What now?
Gov. Ron DeSantis had initially wanted the ballot measure to offer Floridians an even greater reduction, but he still advocated for Amendment 3 as Election Day neared.
"I'm very proud of everyone that had been a part of that, and I know that that's something that's very meaningful for a lot of Floridians," he said at a Wednesday morning press conference.
Since it takes effect at the beginning of 2027, DeSantis said there'll need to be a special session before his term ends to pass legislation spelling out how the amendment will work. DeSantis said he's looking to lawmakers to decide exactly when to hold the session.
"I'll work with them," DeSantis said. "I'll probably let them pick the dates. You know, I'm basically on lame duck duty at this point."
DeSantis made clear he wanted deeper tax cuts in the future, referring to the amendment as "the beginning of our property tax elimination efforts in the state of Florida."
He also said he wanted to limit governments "doing an end run around the amendment and taxing [residents] in other ways," like through a "Taxpayer Bill of Rights."
"I'll also work with the legislature to provide a pool of funding that we can issue grants to local governments for core needs," he said.
Republican U.S. Rep. Byron Donalds will become Florida's governor on Jan. 5.
"If Byron wants to get to a point where a lot of Republican voters wanted to have tax-free homestead, then you're going to have to come up with solutions on that," DeSantis said.
Donalds has said he wants to completely repeal homestead property taxes — if the math allows for it.
If you have any questions about state government or the legislative process, you can ask the Your Florida team by clicking here.
This story was produced by WUSF as part of a statewide journalism initiative funded by the Corporation for Public Broadcasting.
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