TAMPA, Fla. — Homeowners in Tampa could see their city and county tax bills shrink sharply if Florida voters approve Amendment 3 on Nov. 3, but city leaders warn the savings would come with a hole in the budget that pays for police, parks and drainage.
The measure, placed on the ballot by the Legislature, needs at least 60% of the vote to pass. It would rework the homestead exemption that permanent residents get on the home they live in. Today a qualifying homeowner can shield up to $51,411 of assessed value for the 2026 tax year: $25,000 against every tax, including schools, plus $26,411 against non-school taxes.
Under the amendment, the school portion would stay at $25,000. The exemption against non-school taxes would jump to as much as $150,000 starting Jan. 1, 2027, and to as much as $250,000 starting in 2028, with yearly inflation adjustments from 2029 on. It would also lower the cap on yearly assessment increases for non-homestead property. If it passes, the first changes would show up on the TRIM notices mailed in August 2027 and on that November’s tax bills.
People who move to Florida on or after Jan. 1, 2027, would start with a smaller $50,000 exemption on non-school taxes and qualify for the larger amount in their fifth year of holding a homestead.
For Tampa’s government, the stakes are large. About 63% of the city’s residential properties carry a homestead exemption, according to Hillsborough County property appraiser figures. Chief Financial Officer Dennis Rogero has projected the city could lose as much as $40 million in the 2028 fiscal year and more than $60 million the year after.
Mayor Jane Castor has said the lost money would mean less for services from public safety to stormwater systems and parks. At a July budget presentation, she pointed to affordable housing, youth programs, parks and homeless services as areas that could be cut, and the city may also add or raise fees.
Savings for any one household depend on the home’s assessed value, how long the owner has held a homestead exemption and local tax rates, which have not been set for the years ahead. Property taxes that fund schools would still be owed.
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Filed under: Tampa FL Politics News
