Quick explainer for anyone buying or relocating to South Florida, not a voting recommendation. Florida's Amendment 3 is on Tuesday's ballot and needs 60% to pass. If it passes, starting Jan 1, 2027:

• The homestead exemption for non-school property taxes would go up to $150,000 in 2027 and $250,000 in 2028, then adjust for inflation. School taxes keep the $25,000 exemption. Today's total exemption is up to about $51,411.

• People who weren't Florida residents by Dec 31, 2026 would start with a smaller $50,000 exemption, and the bigger one would kick in starting their 5th year of homestead.

• Rentals and second homes don't get homestead, but their yearly cap on assessed-value increases would drop from 10% to 5%. That caps assessed value, not the tax bill itself.

• For scale, Florida TaxWatch estimates (via the Miami Herald) savings for a City of Miami homeowner of about $1,216 in 2027 and $2,448 in 2028. Actual savings depend on your home's value and local tax rates.

Sources: Florida Division of Elections ballot summary (https://constitutionalinitiatives.dos.fl.gov/Home/InitDetail?account=10&seqnum=110), Pinellas County Property Appraiser FAQ (https://www.pcpao.gov/amendment3), Miami Herald (https://www.miamiherald.com/news/business/real-estate-news/article317750036.html).

For anyone planning a 2027 move: is the residency date changing your timeline, or is it not a big enough factor to matter?