Palm Beach County Property Appraiser Launches Amendment 3 Calculator for Homeowners Ahead of November Vote

Palm Beach County homeowners can now estimate the potential impact of Amendment 3 on their property taxes before the November election. The Palm Beach County Property Appraiser's Office launched an online calculator this week, providing a tool for residents to understand how the proposed constitutional amendment might affect their finances.

Amendment 3, if voters approve it in November, would allow homesteaded property owners to transfer their Save Our Homes benefit to a new residence. This provision aims to offer tax relief, particularly for those looking to downsize or move to less expensive properties within the county.

The Save Our Homes benefit currently caps annual increases in assessed value for homesteaded properties at 3% or the Consumer Price Index, whichever is lower. This benefit helps protect homeowners from significant tax hikes. The proposed amendment seeks to extend this protection when moving, preventing a sudden jump in property taxes for eligible residents.

To use the online tool, homeowners input information about their current property and details about a prospective new home. The Property Appraiser's office emphasizes that the calculator provides estimates only. These estimates do not guarantee future tax bills. Residents should use the tool as a guide and seek clarification from official sources regarding their specific circumstances.

The launch of this calculator comes as the November election approaches, giving residents a practical way to evaluate the amendment's personal financial implications. Homeowners should utilize this resource to make informed decisions at the ballot box.