TAMPA, Fla. — Tampa homeowners are in line for smaller non-school property tax bills after Florida voters approved Amendment 3 on Tuesday, and city leaders had already drawn up two 2027 budgets in case it passed.
The measure needed 60 percent to clear the state constitution’s bar and was sitting near 62 percent Wednesday morning, when 99 percent of votes had been counted.
For homeowners who have been Florida residents for five years or more, the homestead exemption on non-school taxes now steps up in two stages, from $50,000 today to $150,000 for 2027, then climbing again to $250,000 for 2028. That applies to owners with a homestead. The measure also cuts the annual limit on assessment growth for non-homestead property in half, to 5 percent from 10 percent, and tells the Legislature to set up a way to eventually end non-school homestead property taxes altogether.
Cities and counties will not feel it right away. Their first real revenue loss is expected in the fall of 2027, and a far steeper one follows in 2028 once the $250,000 level kicks in. Tampa prepared one budget for a yes vote and another for a no vote.
A real estate executive estimated eligible owners would save roughly $1,300 in 2027 and about $2,700 a year from 2028 on, while warning that mortgage rates, prices and insurance will still drive affordability.
Nonprofits are worried about what comes next. United Way Suncoast said less public money could squeeze services for kids and families, from libraries and rec centers to after-school care, and it plans to meet with partner groups on a response.
The amendment drew opposition from groups across the political spectrum, including sheriffs, labor unions and progressive organizations, who warned it would strain money for schools, fire and police departments, roads and parks.
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