Amendment 3 passes: Jacksonville homeowners could save thousands as city weighs budget cuts

More than 4.9 million Floridians voted “Yes” on Amendment 3. In Duval County, 56.5% of voters — more than 194,000 people — approved the measure.RELATED: Northeast Florida sheriffs react after Amendment 3 passesThe amendment expands the non-school property homestead exemption from $50,000 to $150,000 in 2027, then to $250,000 in 2028. That means more money in homeowners’ pockets — but significantly less for local government.For at least one Jacksonville resident, the vote was what he wanted.“The property tax rate has been going up yearly and it’s so hard on individuals trying to make it in this economy. But I feel as though the city can recoup,” the resident said.The city auditor has projected the amendment could cut about $300 million in annual property tax revenue for Jacksonville by 2029.What it means for your walletFor homeowners, the savings are real. Duval County Property Appraiser Joyce Morgan provided figures based on the median single-family home with homestead exemption — valu