Florida Impact: Three Constitutional Amendments on the November 3, 2026 Ballot. A Facts Only Guide

How Amendments Reach Voters and Pass

• A proposed amendment placed on the ballot by the Legislature needs a three-fifths vote of each chamber, which is at least 72 votes in the House and 24 in the Senate.

• To take effect, an amendment needs 60 percent of the votes cast on that amendment. The governor's signature is not required.

• All three amendments appear on the Wakulla County sample ballot as No. 1, No. 2 and No. 3, and each is a yes or no vote.

At a Glance

Amendment 1: Budget Stabilization Fund

What the ballot says

Ballot summary: "Proposing an amendment to the State Constitution to increase the amount of funds that may be retained in the budget stabilization fund from 10% to 25% of general revenue collections, require the legislature to transfer the lesser of $750 million or the amount required to reach 25% of the general revenue collections each year unless certain conditions are met, and allow the legislature to withdraw funds for critical state needs." It amends Article III, Section 19 of the Florida Constitution.

Current law

• The Budget Stabilization Fund was created in 1992. It is capped at 10 percent of general revenue collections and has a 5 percent minimum balance requirement.

• Florida TaxWatch reports the fund's balance at $5.056 billion, or 9.75 percent of general revenue collections. Ballotpedia reports 9.3 percent for fiscal year 2024-25. The sources use different dates and measures.

What would change

• The cap would rise from 10 percent to 25 percent of general revenue collections.

• The Legislature would have to transfer each year the lesser of $750 million or the amount needed to reach 25 percent, unless certain conditions are met.

• The Legislature could withdraw funds for critical state needs. Florida TaxWatch describes the conditions as a two-thirds vote, no more than once every five years, and only if the balance exceeds 15 percent of collections.

Fiscal facts

• This amendment moves state money between accounts rather than changing a tax. Florida TaxWatch estimates that at $750 million a year, with 2.4 percent revenue growth, reaching 25 percent would take about 22 years and about $16.4 billion in cumulative transfers by 2049.

Legislative history

• Passed the House 100 to 1 and the Senate 29 to 4 in June 2025.

Amendment 2: Agricultural Tangible Personal Property Exemption

What the ballot says

Ballot summary: "Proposing an amendment to the State Constitution to exempt tangible personal property habitually located or typically present on land classified as agricultural, used in the production of agricultural products or for agritourism activities, and owned by the landowner or leaseholder of the agricultural land from ad valorem taxation. If approved this amendment would first apply for tax years beginning January 1, 2027." It amends Article VII, Section 3 and Article XII.

Current law

• Tangible personal property, such as machinery, equipment and tools, can be taxed by local governments as property tax.

• Florida Phoenix reports that agricultural real property makes up about 2 percent of total real property value in Florida.

What would change

• Qualifying property would be exempt from property tax. To qualify it must be habitually located or typically present on land classified as agricultural, used in agricultural production or agritourism, and owned by the landowner or leaseholder.

• The Legislature would set the specific conditions and limits in state law.

Fiscal facts

• Estimated annual revenue reduction for local governments and schools: about $31.0 million in fiscal year 2027-28, $32.3 million in the second year and $33.6 million in the third year (Florida TaxWatch).

Legislative history

• Passed the House 110 to 1 on April 25, 2025, and the Senate 37 to 0 on May 2, 2025.

Amendment 3: Homestead Exemption, Non-Homestead Assessment Cap and Local Spending

What the ballot says

The Wakulla sample ballot titles it "Increased Homestead Exemption; Lower Cap on Increases in Non-Homestead Property Assessments," and cites Article VII, Sections 4, 6 and 9 and Article XII. The Legislature's bill title was "Save Our Homes from Excessive Property Taxes." The ballot summary reads

• "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 for a homestead exemption, with the increased homestead exemption beginning with the fifth year of exemption, to the extent permitted by the U.S. Constitution.

• This amendment reduces the annual cap on assessment increases for non-homestead properties from 10% to 5%.

• This amendment 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. Other expenditures may be approved by county officers or county or municipal governing bodies unless prohibited by general law, notwithstanding Article VII, Section 9(a) of the Florida Constitution, which allows counties and municipalities to levy property taxes for their respective purposes. This amendment takes effect January 1, 2027."

• The ballot text above is quoted from Wakulla County's official sample ballot.

Current law

• News4Jax reports that homesteaded owners currently receive a $25,000 exemption on all property taxes plus an additional exemption on non-school taxes that began at $25,000 and has adjusted for inflation since 2025.

• Florida TaxWatch lists the current non-school homestead exemption at $51,411. The Property Appraiser can confirm the exact current amount for a given parcel.

• Current law limits the yearly rise in assessed value of non-homestead property to 10 percent.

What would change, by component

• Homestead exemption: rises to $150,000 in 2027 and $250,000 in 2028, then adjusts yearly for inflation. It applies to non-school levies only. School district levies are not affected.

• New residents: someone who is not a Florida resident on December 31, 2026 receives the existing exemption when they qualify and the increased exemption beginning with the fifth year of exemption. Florida TaxWatch describes a $50,000 exemption for those first five years.

• Non-homestead property: the annual cap on assessment increases falls from 10 percent to 5 percent. This covers rental property, second homes, and commercial property.

• Local spending: counties and municipalities must use property taxes solely for the seven purposes listed on the ballot, with the stated exception for other expenditures.

• Future increases: the Legislature must set a uniform procedure for counties and municipalities to raise the homestead exemption further, up to full assessed value. Special districts could do so with voter approval.

Legislative history and timing

• The Legislature met in special session in June 2026. HJR 1-F passed the House 75 to 26 and the Senate 30 to 9 on June 2, 2026, after five floor amendments failed. It was filed with the Secretary of State on June 16, 2026. The companion Senate measure, SJR 2-F, was laid on the table.

• If approved, the amendment takes effect January 1, 2027.

• Wakulla County's contingency plan states that lawmakers would finalize implementing legislation by May 2027, with implementation on October 1, 2027, for fiscal year 2028-29 (WTXL).

A related local item on the same ballot

• Wakulla County School Board Referendum No. 2026-35 asks voters to approve an additional 1.0 mill of school property tax for four years beginning July 1, 2027, with annual public reporting. The ballot lists uses of higher teacher and support staff pay and benefits, arts, music and athletics, and free meals for all students, with funds shared with charter schools in proportion to enrollment. It is separate from Amendment 3, and Amendment 3's higher homestead exemption applies only to non-school taxes.

Voting Dates

• October 5: last day to register to vote.

• October 22: deadline to request a mail ballot.

• October 24 to 31: early voting, 8:30 a.m. to 5:00 p.m., at the Wakulla Community Center and the Supervisor of Elections office.

• November 3: Election Day, 7 a.m. to 7 p.m. Photo and signature ID are required. Call 850.926.7575 or visit WakullaVotes.gov.

Sources

Ballot and legislative record: Wakulla Supervisor of Elections sample ballot (on file); Florida Senate, CS/HJR 1-F bill page; Ballotpedia, Budget Stabilization Fund amendment; Ballotpedia, agricultural property tax amendment; Volusia County Supervisor of Elections amendment guide.

Analysis and fiscal estimates: Florida TaxWatch taxpayer's guide; Florida Policy Institute, Amendment 3 summary; Florida Association of Counties fiscal impact guide; Florida Phoenix, Amendment 1; Florida Phoenix, Amendment 2; News4Jax, Amendment 3 guide.

Wakulla County: WCTV, Revenue Estimating Conference projections; WTXL, county budget and property tax changes; WTXL, county contingency plan; Citizen Portal, 2026-27 millage.

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