Florida Amendments 1, 2 and 3 Explained: Rainy-Day Fund, Farm Equipment and the Homestead Exemption

Three proposed amendments to Florida's constitution are on the November 3 ballot, and each needs 60 percent approval to pass. Amendment 1 would increase the amount that may be kept in the state's budget stabilization fund — its rainy-day fund — from 10 percent to 25 percent of net general revenue, with set conditions for withdrawals. Supporters, including the Republican Party of Florida and Florida TaxWatch, say the state should save more in good years for hurricanes and downturns; opponents, including Gov. Ron DeSantis, say the fund is already maxed out and the required annual transfers would tie future legislators' hands.

Amendment 2 would exempt tangible personal property used in agricultural production or agritourism — farm equipment and tools on agricultural land — from property taxes. Agriculture Commissioner Wilton Simpson and the Florida GOP support it as relief for the farmers who feed the state. Opponents, including State Rep. Anna Eskamani, put its fiscal impact at $30 million for local governments and argue it would mostly benefit large agribusinesses without a cap to target smaller farms.

Amendment 3, the most closely watched in Escambia County, would raise the homestead exemption for non-school taxes to $150,000 in 2027 and $250,000 in 2028, lower the assessment cap on non-homestead properties from 10 percent to 5 percent, and limit how counties and cities may spend property tax revenue. Supporters frame it as tax relief for homeowners; a wide range of opponents — including the Florida Sheriffs Association, police and fire unions and the Florida Association of Counties — warn it would force cuts to public safety and local services or shift costs elsewhere. Escambia voters decide Amendment 3 alongside the county's Local Option Sales Tax renewal on the same ballot.