Here are the key takeaways regarding Amendment 3:

  - Increases the property exemption from $50,000 to $150,000 in 2027
  - Increases the property exemption to $250,000 for 2028
  - Does not affect taxes that go to schools
  - Anyone who moves to Florida has to wait 5 years to claim the exemption, even if they purchase a property
  - Places a cap for non-homestead homes (such as second homes, investment homes, and vacation homes) at 5% instead of 10%
  - The overall plan is to increase the property exemption with inflation, aiming to eventually eliminate property taxes altogether