How much Miami-Dade homeowners might save if Amendment 3 passes

How it works: Amendment 3 would increase the homestead exemption from $50,000 to $150,000 by 2027, reducing a property's taxable value by exempting that portion from taxes.

• By 2028, the exemption would increase to $250,000.

Driving the news: Miami-Dade property appraiser Tomás Regalado tells Axios he estimates the average Miami-Dade homeowner could save about $1,700 in 2027 if the referendum passes — and roughly $2,700 the following year.

• Regalado — who has publicly supported Amendment 3 — tells Axios his office calculated the projections using the county's 2026 tax rate and the median home values.
• The average property tax bill in Miami-Dade is currently about $6,0oo, he says. That would decrease to about $4,367 in 2027 and $3,289 in 2028.

Meanwhile, in Broward County, the average homeowner could save $1,300 the first year and $2,300 the second year, property appraiser Marty Kiar told NBC 6.

• Individual savings, he said, would depend on your city's tax rate and your specific property's taxable value.