The dust has barely settled since Amendment 3, which increases Florida’s homestead property tax exemption for 2027 and beyond, passed on Tuesday, Nov. 3.
With the title “Increased Homestead Exemption; Lower Cap on Increases in Non-Homestead Property Assessments,” Amendment 3 was the only one of the three Florida constitutional amendments on the ballot to meet the 60 percent voter threshold for approval. Amendment 3 garnered 4,922,400 votes (61.98 percent) statewide, with 3,019,415 votes (38.02 percent) opposed. It also managed to pass the 60 percent mark among Palm Beach County voters.
Legitimate fears are already beginning to surge in the nonprofit sector, since this will reduce the flexible, critical revenue funding that counties and municipalities receive. Local nonprofits are likely to feel those impacts considerably…