Florida Amendment 3 Explained: What the New Homestead Exemption Means for Homeowners

On November 3, 2026, Florida voters approved Amendment 3 with roughly 62 percent of the vote, clearing the 60 percent needed for a constitutional amendment (results were unofficial at the time of writing). It is the biggest change to Florida homestead property taxes in years. If you own and live in a Florida home, here is what it does, when it takes effect and what to do now.

What Amendment 3 changes

The amendment’s ballot title is “Increased Homestead Exemption; Lower Cap on Increases in Non-Homestead Property Assessments.” It does two main things:

• It raises the homestead exemption for non-school property taxes. The exemption was about $51,000 in 2026. It becomes $150,000 starting with the 2027 tax roll and $250,000 in 2028. After that it is adjusted for inflation.
• It lowers the cap on yearly assessment increases for non-homestead property (rentals, second homes and commercial property) from 10 percent to 5 percent for non-school taxes.

The amendment takes effect January 1, 2027. The first visible change will be on the August 2027 TRIM notice (the proposed tax notice your county mails) and the November 2027 tax bill.

How much could you save?

The exemption reduces your taxable value, not your bill directly. Your savings depend on your local millage rate, which is the tax per $1,000 of taxable value. As an illustration only, take a home with an assessed value of $400,000:

• 2026: about $348,600 of non-school taxable value (after the roughly $51,400 exemption)
• 2027: $250,000 of non-school taxable value
• 2028: $150,000 of non-school taxable value

That is nearly $200,000 less taxable value by 2028. At a combined non-school rate of 12 mills (1.2 percent), that works out to roughly $2,400 a year. One county property appraiser estimated about $2,400 a year in savings in 2028 for a home receiving the full exemption. Your number will be higher or lower depending on where you live. Because the exemption is a fixed dollar amount, a $400,000 home and a $4 million home receive the same dollar reduction in taxable value.

What does not change

• School taxes. The $25,000 school-tax exemption is unchanged, and school taxes are still calculated on the higher value.
• Save Our Homes. Your assessed value on a homestead is still capped at the lesser of 3 percent or inflation each year.
• Portability. If you move within Florida you can still transfer up to $500,000 of accumulated Save Our Homes savings to your next homestead.
• Other exemptions. Existing senior, veteran, disability and other exemptions remain.
• Non-ad valorem fees. Fire fees, stormwater fees, trash fees and CDD assessments are not reduced.

Do not assume your bill will fall dollar for dollar

Local governments can still change their millage rates. Cities and counties that lose revenue may raise rates, trim budgets or find other income, and those decisions will be made in local budget meetings over the next couple of years. Supporters say the amendment returns money to homeowners and forces local governments to cut waste. Opponents warn that it could strain police, fire and infrastructure budgets. Which of those plays out will vary by community.

What homeowners should do now

1. Confirm you actually have homestead. Look up your parcel on your county property appraiser’s website and confirm “homestead” is listed. If you bought recently, make sure you filed.
2. Know the March 1 deadline. Homestead status is set as of January 1, and applications are generally due by March 1.
3. Watch your August TRIM notice. This is where the larger exemption will first show up. Review it and attend local budget hearings if you want a say in millage.
4. Budget conservatively. Do not count on the full savings until you see the actual bill.
5. Check the rules for any family changes. Moving, renting out part of the home, divorce or trust transfers can affect homestead. Ask a professional before acting.

What still needs to be written

The Legislature’s 2027 regular session (March 2 to April 30) is expected to write implementing rules, including how the new-resident provision is administered and a process for local governments to raise the exemption further. The amendment also directs that, after 2029, a schedule be set to eliminate remaining non-school homestead property taxes. Watch for how that develops.

Related reading: what Amendment 3 means for home buyers and new residents and what it means for snowbirds.

Talk to a Florida broker before you decide

Want to understand how Amendment 3 affects your property? Call (407) 790-7341 or send us a message and Jason Sirounis will help you work through the numbers for your situation.

This article is general information about a constitutional amendment that was approved by voters and is still being implemented. It is not tax or legal advice. Details can change when the Legislature passes implementing rules in 2027, so confirm figures and eligibility with your county property appraiser and a qualified Florida tax professional or attorney.