Real Estate
Florida Amendment 3: How the proposed property tax overhaul could impact homeowners
By Katherine Langford
Florida constitutional amendments: Here’s what to know about the 3 ballot measures
Marcus Chen
Marcus Chen
Managing Editor · St. Paul, MN
Marcus manages the day-to-day editorial workflow across all brands, coordinating coverage assignments and ensuring editorial standards are met. He previously served as city editor at the Pioneer Press and holds a degree in Political Science from Carleton College.
More from Marcus →Managing Editor · Friday, October 30, 2026 at 12:04 PM · 1 min read
Florida voters will decide the outcome of three proposed constitutional amendments on Nov. 3 that could reshape the state reserve fund and alter property tax policies for homeowners, farmers and business owners.Amendment 1: State budget reserve expansionLawmakers placed Amendment 1 on the ballot to adjust how Florida manages its Budget Stabilization Fund, also known as its "rainy day fund". The constitutional measure raises the fund cap from 10% to 25% of net general revenue collections.The proposal directs the legislature to deposit up to $750 million each year into the reserve until reaching the target. Lawmakers can suspend deposits or withdraw funds during revenue shortfalls, natural disasters or critical state needs. Amendment 2: Agricultural equipment tax exemptionsFlorida voters will also consider Amendment 2, which aims to eliminate tangible personal property taxes on machinery used in farming, ranching and agritourism. Qualifying items include tractors, irrigation systems, har
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