For owners and buyers · Florida
Florida Amendment 3, explained plainly
On 3 November, Floridians vote on the largest change to homestead property tax in a generation: an exemption of $150,000 in 2027 rising to $250,000 in 2028, and a cut to the assessment cap on non-homestead property. There is also a 31 December deadline buried in it that decides whether a new Florida resident waits five years for the benefit — and almost nobody is talking about that part.
What it would actually change
| Change | Detail |
|---|---|
| Bigger homestead exemption | A new exemption of $150,000 for the 2027 tax year and $250,000 for 2028, indexed to inflation from 2029 onward. This is on top of the existing homestead exemption, not instead of it. |
| School taxes are excluded | The new exemption applies to county, municipal and other non-school levies only. Your school district taxes are unchanged. This is the part that surprises people — see below. |
| Non-homestead cap halved | The annual cap on assessment increases for property that is not your homestead — rentals, second homes, commercial — drops from 10% to 5%. |
| Residency timing | People who are already Florida residents get the new exemption on qualifying. Those who become residents later face a five-year wait. |
The part that gets misread
A $250,000 exemption does not mean a $250,000 saving, and it does not zero your bill
Two things limit it. First, an exemption comes off your taxable value, not off your tax bill — you save the exemption multiplied by the millage rate, not the exemption itself. Second, and bigger: it does not touch school taxes, and school levies are a substantial slice of a Florida property tax bill.
So a homeowner whose bill is split between school and non-school levies would see the non-school portion fall sharply and the school portion not move at all. Still a real saving. Not the whole bill, and not the headline number.
What it would mean for you
If you already own and homestead your place
This is the group it is aimed at. If it passes, your non-school taxes fall meaningfully from the 2027 tax year and again in 2028. Nothing to do now beyond making sure your homestead exemption is actually on file with the Property Appraiser — people who moved and never re-filed are the ones who miss out on changes like this.
If you are buying, and moving to Florida
This is the one with a clock on it. The amendment distinguishes between people who are already Florida residents and people who become residents afterward, and the later group faces a five-year wait for the larger exemption. The dividing line is the end of 2026.
If you were planning to move to Florida anyway, and the purchase could reasonably close this year rather than next, that timing is worth a conversation with your accountant now rather than in February. It is not a reason to rush a bad purchase. It is a reason not to drift past a deadline without knowing it existed.
If you own a rental or a second home
The exemption change does not apply to you — it is homestead only. The cap change does: 10% to 5% on how fast the assessed value of non-homestead property can rise each year. In a market that moves the way south Miami-Dade has, that compounds. It makes holding a property materially cheaper over a decade, which is a genuine input into the sell-or-hold arithmetic.
If you are selling
Nothing changes for the sale itself. Worth knowing, though, that the tax reset your buyer faces is one of the quiet reasons a deal falls apart late, and a buyer who understands this amendment is a buyer less likely to be blindsided by their first tax bill.
What happens if it fails
Everything stays as it is: the existing homestead exemption, the 3% Save Our Homes cap on homesteaded property, and the 10% cap on everything else. A constitutional amendment needs 60% in Florida, which is a real bar — several measures with majority support have failed it. Plan around the rules as they are, and treat any change as upside.
Not sure how this lands on your property?
Send me the address. I will tell you what your tax bill actually looks like today, what it would look like for a buyer, and — if you are moving here — whether the end-of-year timing is worth planning around. No charge, and no obligation to list anything.
Common questions
What is Florida Amendment 3 on the 2026 ballot?
A proposed amendment to the Florida Constitution going to voters on 3 November 2026. It would create an additional homestead exemption of $150,000 for the 2027 tax year and $250,000 for 2028, applying to non-school levies only, and would reduce the annual assessment increase cap on non-homestead property from 10% to 5%. It needs 60% approval and would take effect 1 January 2027.
Would Amendment 3 eliminate my property tax bill?
No. The new exemption applies only to non-school taxing authorities, so school district taxes would still be due in full. An exemption also reduces taxable value rather than the bill itself, so the saving is the exempted amount multiplied by the applicable millage rate, not the exemption amount.
Does Amendment 3 apply to rental or investment property?
The larger homestead exemption does not — it is for homesteaded primary residences only. The other half of the amendment does affect investment property: the annual cap on assessed value increases for non-homestead property would fall from 10% to 5%, which compounds in a rising market.
I am moving to Florida. Does it matter when I buy?
It may. The amendment treats existing Florida residents differently from people who establish residency later, with the later group facing a five-year wait for the larger exemption, and the end of 2026 is the dividing line. If you were already planning to move, the timing is worth raising with your accountant now. It is not a reason to rush an otherwise poor purchase.
When does Amendment 3 take effect if it passes?
1 January 2027, with the $150,000 exemption applying to the 2027 tax year and $250,000 from 2028, indexed to inflation from 2029. It requires approval by at least 60% of voters on 3 November 2026.
What is the homestead exemption right now, before any of this?
The existing exemption is $25,000 off assessed value for all taxes, plus a second band on assessed value above $50,000 that applies to non-school taxes only. That second band is adjusted for inflation each year and is $26,411 for 2026, up from $25,722 in 2025. Homesteaded property is also protected by the Save Our Homes cap, which limits annual assessment increases to 3% or the change in CPI, whichever is lower.
Sources
- Amendment provisions, exemption amounts, the non-homestead cap change and the 60% threshold — Orange County Government and the Pinellas County Property Appraiser's published FAQ on CS/HJR 1F.
- Current additional homestead exemption adjusted for inflation to $26,411 for 2026 — Florida Department of Revenue, under section 196.031(1)(b), Florida Statutes.
- Save Our Homes assessment limitation and portability — Florida Department of Revenue, PT-112.
Written October 2026, before the vote. This is general information about a proposed constitutional amendment, not legal, tax or voting advice, and not an endorsement of or opposition to the measure. Ballot measures are frequently litigated and implemented differently from how they read. Confirm anything you intend to act on with your accountant and with the Miami-Dade Property Appraiser.