Panama City explains how Amendment 3 could affect its budget
The city says the property-tax change could reduce money available for future budgets, and it states that the notice takes no position on the amendment.
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Panama City, in Bay County, Florida, has published a notice explaining how Amendment 3, a state property-tax measure on the Nov. 3, 2026 general election ballot, could relate to city finances and services. The notice is dated Oct. 14, 2026, according to the city’s Civic Alerts feed.
What Amendment 3 would change
According to the city’s notice, Amendment 3 would raise the homestead exemption from $50,000 to $150,000, and to $250,000 starting in 2028. It would also lower from 10% to 5% the annual cap on growth in assessed value for certain non-homestead properties.
Why the city says the effect is uncertain
The city says that if property-tax revenue falls, Panama City would have less unrestricted money for future budgets. How large the effect would be depends on the number and value of properties that receive the larger exemption, future changes in assessed values, the future millage rate and other factors, the notice says.
Does the city take a position?
No. The notice says it is meant to help residents understand how the change could relate to local finances and services. In its own words, the notice “does not advocate for or against Amendment 3.”
To read the notice, go to the City of Panama City Civic Alerts page for the notice.
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Questions and answers
- Does Panama City take a position on Amendment 3?
- No. The city's notice on Amendment 3 says it is meant to help residents understand how the change could relate to local government finances and services, and that it "does not advocate for or against Amendment 3." The notice is dated Oct. 14, 2026, according to the city's Civic Alerts feed.
