Florida’s Proposed Homestead Tax Rollback

In ~3 weeks, Florida voters decide Question 3. Approval lifts the homestead exemption from $50K to $150K in 2027, then $250K in 2028.
The outgoing governor estimated the change could erase property taxes for ~60% of homeowners, but the measure needs ~60% voter approval to pass.
One gubernatorial candidate backed reform with a plan to replace lost local revenue, while the other opposed Question 3 and favored a first-time buyer exemption.
The benefit would apply only to permanent residents. Future Florida movers would wait 5 yr, while nonschool assessed-value growth stayed capped near ~5%.
Experts said buyers should weigh tax savings against possible service shifts, while one forecast estimated values could jump ~7%-9% if property taxes disappeared.