The Monroe County Board of County Commissioners will host an Amendment 3 Property Tax Reform Workshop on Tuesday, Oct. 20, at 5 p.m. at the Marathon Government Center, with Zoom participation also available. Zoom details are available at www.monroecounty-fl.gov/calendar. The workshop will provide residents and business owners with information about Amendment 3, a proposed constitutional amendment on the Nov. 3 General Election ballot, and its potential impacts on property taxes, local government funding, and county services.

If voters approve Amendment 3 by a 60% majority, the constitutional homestead exemption on non-school property taxes will increase to $150,000 in 2027 and $250,000 in 2028, with annual inflation adjustments beginning in 2029. The amendment also calls for the legislature to develop a schedule to fully eliminate homesteaded property assessed value. The amendment would also reduce the annual assessment increase cap for non-homesteaded properties, including businesses and rental properties, from 10% to 5%.

During the workshop, county staff will provide an overview of the proposed amendment and discuss:

• Impacts on local homestead vs. non-homesteaded property owners

• Monroe County budget impacts

• Potential tax shifts

• Future budget considerations

The workshop is for informational purposes only and will provide factual information intended to help voters better understand the proposed changes and their potential effects before heading to the polls. Monroe County does not support or oppose any ballot measures.

Additional information will be available at www.monroecounty-fl.gov/taxreform.