The Republican Party of Florida (RPOF) formally endorsed Amendment 1 to strengthen Florida’s rainy-day fund and Amendment 3 to cut property taxes for homesteaders through a press release this week.
“Floridians work hard for what they have. Government should not spend it all and then come back for more,” Florida GOP Chair Evan Power said. “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."
The RPOF noted the proposal would help Florida prepare for "hurricanes, emergencies, and economic shocks while keeping taxes low."
But not all are happy, including Gov. Ron DeSantis.
The governor criticized the endorsement calling the constitutional amendment "foolish" in a social media post.
"We already have a maxed out rainy day fund and have run the largest surpluses in state history," DeSantis wrote. "Any additional revenue should be used for lower taxes, including assisting local governments with grants so that homestead properties can be exempt from local property tax. Surplus revenue could also be used to remove tolls once the property tax issue is settled."
Gov. DeSantis also recommended a "NO" vote.
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."
The RPOF detailed the proposal would also lower the annual cap on assessment increases for non-homestead properties from 10% to 5%. In addition, the proposal pinpoints counties and municipalities to use property taxes for public safety, education and schools, infrastructure, natural resources, and other areas.
Notably, persons who are not Florida residents by Dec. 31 will receive the existing homestead exemption upon qualifying with the expanded homestead exemption starting with the fifth year of exemption pertinent to the U.S. Constitution. School property taxes are not affected by the proposal.
Unlike Amendment 1, Gov. DeSantis backed a rewritten proposal of Amendment 3 in a social media post in August.
Both Amendment 1 and Amendment 3 require 60% approval from Florida voters. If passed, Amendment 1 will take effect on Jan. 5. 2027 while Amendment 3 will take effect on Jan. 1, 2027.
