Jacksonville's City Council finished its 2026-27 budget this week, and the number hanging over it was not in the budget at all. If Florida voters approve Amendment 3, the homestead property tax cut on the November 3, 2026 ballot, City Council Auditor Phillip Peterson projects a $200 million hit to the city next fiscal year and another $100 million the year after, per The Florida Trib's report published September 16 and republished by Jacksonville Today on September 23. Council's Finance Committee found about $30 million in cuts, or just over 1% of the budget, per the same report.
For homeowners the math runs in two directions at once: a larger exemption on a primary residence lowers the non-school part of the tax bill, and a smaller city budget changes what that bill pays for. This page lays out what has been reported, by whom and when, and where the numbers do not line up.
What Amendment 3 would change
Per Jacksonville Today's September 21, 2026 report, Amendment 3 would raise Florida's homestead exemption from $50,000 to $150,000 in 2027 and to $250,000 in 2028. The Florida Trib describes the larger exemption as applying to all non-school taxes. The measure needs 60% of voters to pass. The Trib reports the ballot language faced a court challenge in August but will remain on the ballot.
The exemption applies to a homesteaded primary residence. Rental homes, second homes and commercial property do not receive it, and school taxes are outside the larger exemption as the Trib describes it. For how the current exemption and the Save Our Homes cap work on a Duval bill today, see our Jacksonville property tax guide; our June explainer on the $250,000 homestead exemption proposal covers how the plan reached the ballot.
The auditor's projection
Peterson told the Trib that Jacksonville is projected to lose $200 million next fiscal year and another $100 million the following year if the amendment passes. The Trib puts $200 million at nearly 10% of the mayor's roughly $2 billion proposed general fund budget. Council member Ron Salem, speaking in August per the Trib, said the city would have to cut more than that figure suggests.
Jacksonville Today's September 21 report frames the auditor's estimate differently: in June, the auditor said the cut would mean a $300 million drop in Duval County's projected property tax revenue for the 2027-28 fiscal year, about 30% of the pending $2 billion general operating budget. Mayor Donna Deegan told Jacksonville Today in June that auditors described it as a $300 million hit in the first year.
What council actually cut
Per the Trib, the Finance Committee's work amounted to $30 million in cuts from the mayor's proposed general fund budget, most of which likely will not become actual savings. More than $23 million could partly fund three public safety capital projects under legislation filed by Finance Committee Chair Will Lahnen: $14 million for improvements at the Jacksonville Sheriff's Office headquarters in the Florida Blue building, $10 million for a JSO warehouse consolidation and $2 million for a fire department carbon dioxide removal system. The other $6 million, cut from nonprofit grants, cultural council funding, an eviction assistance program and telehealth services, would be cut only if Amendment 3 passes.
Jacksonville Today's September 21 report puts the Finance Committee's trim at $26 million. On September 22 the full council approved the roughly $2 billion budget and restored the $4.9 million affordable housing trust fund, per Jacksonville Today's September 23 report; our Jax GAP Fund post covers that vote.
Who is for it and who is against it
City Council President Nick Howland supports Amendment 3 as tax relief for homeowners and has pushed to trim the budget ahead of a potential deficit, per the Trib and Jacksonville Today. Council member Rory Diamond told the Trib the committee's cuts were too limited either way. Mayor Deegan opposes the amendment. Council member Jimmy Peluso told the Trib this year's budget did not need to assume the amendment passes, and said its passage would hit city services and public safety hard.
Outside City Hall, the Jacksonville Civic Council, a group of about 100 regional CEOs, announced its opposition on September 21, 2026, citing parks, libraries, roads, drainage and police and fire response, per Jacksonville Today. The same report says Florida TaxWatch urged a no vote the week before and the Florida Sheriffs Association raised concerns in August. St. Johns County leaders have also warned of reduced services, per Jacksonville Today's June 3 report. Momentum Realty takes no position on the amendment.
Where the reports differ
Two figures do not match across the sources we read. First, the size and timing of the revenue loss: $200 million next fiscal year plus $100 million the year after, per the auditor to the Trib, versus a $300 million drop for the 2027-28 fiscal year, per the auditor in June as reported by Jacksonville Today on September 21. The two may describe the same total counted over different years, but neither report reconciles them, so we carry both. Second, the Finance Committee's cuts: about $30 million per the Trib, $26 million per Jacksonville Today; the Trib's own breakdown ($23 million plus $6 million) sums to about $29 million.
What this means for Jacksonville buyers and sellers
For an owner-occupant, the larger exemption would lower the taxable value for non-school levies. As an illustration only: our 2025 guide puts Duval's total millage near 17.86 mills with about 6.34 for schools, leaving roughly 11.5 non-school mills, so each additional $100,000 of exempt value is worth about $1,150 a year, if the home's assessed value is high enough to use it. That is arithmetic, not a forecast; the final bill depends on the millage council sets after the vote and on how the exemption is implemented. You can model your own bill with our Save Our Homes tax estimator and the Duval property tax page.
Buyers of rental, second-home or investment property would not get the larger exemption, and a city facing a revenue gap has two levers: cut services or raise millage on the tax base that remains. Sellers should expect buyers to ask about both. The practical step before November 3 is to price a purchase on the current bill and treat any Amendment 3 savings as unconfirmed until it passes and is implemented.
People also ask
What is Amendment 3 on the Florida ballot in November 2026?
Amendment 3 is a proposed change to the Florida Constitution that would raise the homestead property tax exemption. Per Jacksonville Today's September 21, 2026 report, it would increase the exemption from $50,000 to $150,000 in 2027 and to $250,000 in 2028; The Florida Trib, in a report republished by Jacksonville Today on September 23, 2026, describes the larger exemption as applying to all non-school taxes. The vote is November 3, 2026, and the amendment needs 60% of voters to pass. It applies to homesteaded primary residences, not to rental or second homes.
How much would Amendment 3 cost the City of Jacksonville?
The estimates depend on the year and the report. City Council Auditor Phillip Peterson told The Florida Trib that Jacksonville would face a $200 million hit next fiscal year and another $100 million the following year if Amendment 3 passes (report published September 16, 2026, republished by Jacksonville Today September 23). Jacksonville Today reported on September 21, 2026 that the auditor said in June the cut would mean a $300 million drop in projected property tax revenue for the 2027-28 fiscal year, about 30% of the city's pending $2 billion general operating budget. We carry both figures.
Would Amendment 3 lower my Jacksonville property tax bill?
For a homesteaded primary residence, the larger exemption would lower the taxable value used for non-school taxes, so the non-school portion of the bill would fall, subject to how the Legislature and the county implement it. As an illustration only, using the roughly 11.5 non-school mills implied by our 2025 Duval millage guide, each additional $100,000 of exempt value is worth about $1,150 a year, and only if the home's assessed value is at least that high. School taxes, non-homestead properties, rentals and second homes would not get the larger exemption. City officials quoted by The Florida Trib say the revenue loss could mean layoffs and slower growth in police and fire staffing.
The takeaway
Amendment 3 goes to Florida voters on November 3, 2026 and needs 60% to pass. Jacksonville's auditor projects a $200 million revenue loss next fiscal year and $100 million more the year after, per The Florida Trib, while Jacksonville Today reports the auditor's June estimate as $300 million for 2027-28. Council's Finance Committee found $26 million to $30 million in cuts, depending on the report. For homesteaded owners the non-school portion of the bill would fall if it passes; for everyone else, the open question is what the city does to close the gap.
Sources
- Jacksonville Today (republishing The Florida Trib), "Is Jacksonville prepared for the $200M shortfall if Amendment 3 passes? Short answer, no.", by Molly Farrar, published September 23, 2026, 1:57 p.m. (originally published by The Florida Trib September 16, 2026): jaxtoday.org
- Jacksonville Today, "Jacksonville Civic Council comes out against Amendment 3 tax cut", by Mike Mendenhall, published September 21, 2026, 3:09 p.m.: jaxtoday.org
- Jacksonville Today, "Jacksonville City Council approves $2B budget, restores affordable housing trust fund", published September 23, 2026 (headline and summary): jaxtoday.org
- Momentum Realty, "Jacksonville Property Tax in 2026" (2025 Duval millage used for the illustration): movewithmomentum.com
How this article was prepared: every figure, date, name and position above is taken from the named reports and is attributed to the outlet that published it. The two Jacksonville Today articles on Amendment 3 were read in full; the September 23 budget article is cited from its headline and summary. Where the reports disagree, both figures are shown. The tax illustration is simple arithmetic on our own 2025 millage guide and is not a forecast of any bill. Nothing here is legal, tax or voting advice, and Momentum Realty takes no position on the amendment. Figures are deemed reliable but not guaranteed; verify against the Duval County Property Appraiser and the City Council Auditor before relying on them.