Florida's Three Amendments on Tuesday's Ballot: a Bigger Rainy-Day Fund, Farm Equipment Tax Relief, and a Much Larger Homestead Exemption
Beyond the candidates, Florida voters decide three constitutional amendments on November 3 — and the third one, a homestead exemption rising to $250,000 by 2028 for five-year residents, is the one that would reach most Orlando homeowners' tax bills.
Every Florida ballot on Tuesday carries the same three proposed constitutional amendments, summarized by the Florida Division of Elections. Amendment 1 would increase the maximum balance in the state's Budget Stabilization Fund — the rainy-day fund — from 10 percent of the previous year's general revenue collections to 25 percent, and would require the Legislature to transfer $750 million into the fund each year until that maximum is reached. Gov. Ron DeSantis opposes the amendment, arguing the state already has ample reserves and that surplus revenue should instead fund tax relief, including property-tax reductions; he has urged voters to reject it.
Amendment 2 is narrower: it would add a property tax exemption for items such as machinery, tools, computers and other equipment used in agricultural production or agritourism. Amendment 3 is the one aimed at homeowners. It would increase the state's homestead exemption on non-school property taxes from the current $50,000 to $150,000 in 2027 and then to $250,000 in 2028. Homeowners must have lived in Florida for five years to qualify for the expanded exemption. To blunt an expected shift in the tax burden, the measure would also cap assessment increases on non-homestead properties — second homes and commercial real estate — at 5 percent instead of the current 10 percent.
Election Day is Tuesday, November 3, with polls open 7 a.m. to 7 p.m.; voters must use their assigned precinct and bring a current, valid photo ID with a signature. Orange County voters still have early voting through Sunday, November 1, at any of the county's 27 sites — but the amendments themselves will be decided by whoever shows up, in person or by mail ballot received by 7 p.m. on Election Day.
