Proposed Amendment 3 Could Cut Miami-Dade Property Taxes
Homeowners may see $2,500 in annual savings by 2028 if the property tax amendment passes.
Updated on Oct. 22, 2026 in Commercial
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Do you support expanding homestead tax exemptions to lower your property tax burden?
Miami-Dade homeowners could see significant property tax savings under a proposal debated at a recent roundtable hosted by Governor Ron DeSantis. The potential tax relief follows a push to expand homestead exemptions and cap non-residential assessment increases.
Why it matters
With Miami-Dade general fund spending up 67% since fiscal year 2021, residents are weighing how state-led tax changes might offset local costs. The proposal targets rising tax burdens that have tracked with surging property tax revenues statewide.
Florida property tax revenues have climbed to $60 billion from $32 billion in 2019, while Miami-Dade general fund spending grew 67% since 2021. The proposal includes a $2,500 annual savings estimate for an average local homeowner.
The players
Ron DeSantis
The Governor of Florida who hosted the Miami roundtable to advocate for tax relief.
Miami-Dade Sheriff's Office
The local agency that recently reduced its annual technology costs by $12 million.
The details
Amendment 3 aims to raise the homestead exemption to $150,000 in 2027 and $250,000 by 2028. Additionally, it would cut the cap on annual assessment hikes for non-residential properties from 10% to 5%. These changes complement broader state tax relief efforts that have totaled $10 billion to date.
Timeline
October 22, 2026: Governor DeSantis hosted a roundtable in Miami regarding tax policy.
2027: The proposed homestead exemption expands to $150,000 under Amendment 3.
2028: The proposed homestead exemption expands to $250,000 under Amendment 3.
Beyond the 305
This proposal builds on the financial relief provided by the state's earlier commercial rent tax repeal. It marks a broader effort by the administration to shift away from the rising property tax revenues seen across Florida since 2019.
Homeowners in Miami-Dade may see average annual savings of $2,500 once the exemption reaches the full $250,000 threshold in 2028. Business owners should also track the proposed 5% cap on non-residential assessment increases.
The takeaway
The proposed tax changes target both residential homesteads and commercial property assessment caps. Keep an eye on the 2027 implementation timeline for the first phase of the expanded homestead exemption.
Further reading
Learn more about local real estate trends in our Commercial section.
Live Poll
Do you support expanding homestead tax exemptions to lower your property tax burden?
