Florida Amendment 3 and renters: What we know, and don’t know

Florida Amendment 3 passed Tuesday night with 62% of the vote. That means that come Jan. 1, property owners who get a homestead exemption can expect their property taxes to go down next year.But if you are renting a home, what does that mean for you?We are seeing a lot from our viewers right now on social media worried about higher rent.So here is what we know.What Amendment 3 doesAmendment 3 has several provisions. Chief among them is increasing the homestead exemption for all non-school property taxes to $150,000 in 2027 and $250,000 in 2028, and adjusting for inflation thereafter.The measure also places restrictions on what governments can spend general revenue (read: tax revenue) on: Public safetyEducationInfrastructureNatural resource projects and flood controlLocal bondsEmployee retirement benefitsGovernment operationsThose limits mean local governments may have to find other ways to spend money on things like public libraries, animal shelters and parks and recreation. Health, af