Florida GOP Officially Endorses Amendments 1 and 3
TALLAHASSEE, Fla. — The Florida GOP today endorsed Amendment 1 and Amendment 3 on the November 3, 2026, general election ballot.
Amendment 1 strengthens Florida’s rainy-day fund. Amendment 3 delivers homestead property-tax relief and limits how fast non-homestead assessments can rise.
“Floridians work hard for what they have. Government should not spend it all and then come back for more,” said Florida GOP Chairman Evan Power. “Amendment 1 keeps Florida prepared for storms, emergencies, and downturns without raising taxes. Amendment 3 puts
money back in the pockets of people who own their homes. The Florida GOP will fight for both.”
Amendment 1: Budget Stabilization Fund
Official ballot language: an amendment to increase the amount of funds that may be retained in the budget stabilization fund from 10 percent to 25 percent of general revenue collections, require the Legislature to transfer the lesser of $750 million or the
amount required to reach 25 percent of general revenue collections each year unless certain conditions are met, and allow the Legislature to withdraw funds for critical state needs.
That change helps Florida stay ready for hurricanes, emergencies, and economic shocks while keeping taxes low.
Amendment 3: Increased Homestead Exemption; Lower Cap on Increases in Non-Homestead Property Assessments
Official ballot language: this amendment increases the homestead exemption, for all non-school taxes, to $150,000 in 2027 and $250,000 in 2028, and adjusts for inflation thereafter. It requires the Legislature to prescribe a uniform procedure for counties and
municipalities, for their respective levies, to increase the homestead exemption up to full assessed value, and allows special districts, subject to referendum approval, to do the same.
Persons who are not Florida residents on December 31, 2026, will receive the existing homestead exemption upon qualifying, with the increased homestead exemption beginning with the fifth year of exemption, to the extent permitted by the U.S. Constitution.
The amendment reduces the annual cap on assessment increases for non-homestead properties from 10 percent to 5 percent. It requires counties and municipalities to use property taxes solely for public safety, education and schools, infrastructure, natural resources,
bond debt service, retirement benefits for employees, and operations and administration. If approved, it takes effect January 1, 2027.
School district taxes are not affected by the increased homestead exemption.
Both amendments were placed on the ballot by the Florida Legislature and require 60 percent voter approval.
The Florida GOP endorsed Amendment 2 in May of last year. The amendment exempts farm equipment and other tangible personal property used on agricultural land for farming or agritourism from property taxes, beginning with tax years starting January 1, 2027.
The Florida GOP urges Floridians to vote YES on Amendment 1, YES on Amendment 2, and YES on Amendment 3.
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