Amendment 1 proposed to raise the homestead property tax exemption by $25,000 for homes worth more than $100,000. That would exempt the value between $100,000 and $125,000 of a home that serves as the owner's primary residence.  In terms of saving money, homeowners using their home as a primary residence (more than 6 months in the year), will save approximately $25-50 per month.

Out of all 13 proposed Amendments, this one was the only Amendment that failed, mainly because passing would result in the state losing an estimated 752.7 million in their budgets in the first year (school districts are not impacted).  So, naturally, the money has to come from somewhere.  Claims have been made by Florida Association of Counties, that passing Amendment 1 will force local governments to increase tax rates and commercial and non-homesteaded properties might pay more.  Despite the break that homeowner's would receive, the majority saw this as another increase in living expenses.  Therefore, the Amendment was shot down by the Florida voters on the 6th of Novemnber.
Amendment 2 places a 10-percent cap on the annual increase of non-homestead property tax assessments. This amendment wouldn't change current law, but it puts protections in place so exorbitant increases don't impact renters, business owners and consumers.  What owners of non-homestead properties face, should the amendment fail, is paying taxes on the full value of properties, beginning in January 2019. This could translate into higher costs for renters, financial burdens for those on fixed incomes, increased costs for consumers who shop at businesses and more costs for those who own undeveloped land. Projections show a potential tax increase of about $700 million each year.  The passing of this Amendment was not a surprise as both Republicans and Democrats, for the most part, agreed that keeping costs down for the Florida resident was in their best interest.