Florida Amendment 3 (2026): The Property Tax Change Relocating Buyers Need to Know

This November 3, 2026, Florida voters will decide Amendment 3, officially the "Increased Homestead Exemption; Lower Cap on Increases in Non-Homestead Property Assessments." It's a constitutional amendment, so it needs 60% of the vote to pass. If you're relocating to Florida, this one matters a lot, because there's a December 31, 2026 residency deadline buried in it.

I'm not here to tell you how to vote. My job is to help you understand what's on the ballot and how it could affect your plans to buy a home here. If you want the full record before we get into it, Ballotpedia's breakdown of Amendment 3 is the best primary source to start with. Here's a balanced, factual look at the rest.

What Amendment 3 Would Do

The measure makes a few connected changes to how Florida property taxes work. Here they are in plain terms.

• Raise the homestead exemption on non-school property taxes from the current roughly $51,411 (the $25,000 exemption plus the roughly $26,411 CPI-adjusted additional exemption) to $150,000 of assessed value in 2027 and $250,000 in 2028, then adjusted for inflation after that.
• It does not apply to school taxes. The $25,000 school exemption stays as is. School levies make up roughly 40% of the average Florida tax bill, so the amendment reduces taxes, but it doesn't erase them.
• Lower the annual cap on assessment increases for non-homestead properties (second homes, investment and rental properties, and commercial) from 10% to 5%, a change that would also help landlords and investors who rent housing.
• Keep the existing 3% Save Our Homes cap on homestead assessment increases unchanged.
• Add residency rules. Only permanent Florida residents benefit from the higher exemption. Anyone who is a permanent Florida resident on or before December 31, 2026 qualifies for the larger exemption when they buy and claim homestead. Someone who becomes a permanent resident after that date starts with the current $50,000 new-resident exemption and phases up to the larger amount over roughly the first five years of homestead.
• Create a uniform statewide procedure counties and cities must follow to raise their property tax levies, making it harder for local governments to offset the lost revenue.

The Numbers Behind It

Legislative estimates put the reduction in local non-school property tax revenue around $4.95 billion in fiscal year 2027-28, rising to about $8.78 billion in 2028-29, with a large recurring impact year after year. The Florida TaxWatch property tax resource center tracks the fiscal picture in detail if you want to dig in. That revenue trade-off is the heart of the debate.

How to estimate your taxes

1. Add up all of your non-school millage rates. You can get them from your last tax bill sent by your county tax collector, or from your tax collector or property appraiser's website.
2. Multiply that number by $98.59 for 2027 and $198.59 for 2028.

The result is the difference between the non-school property taxes you would pay with the increased exemptions and the amount you would pay without Amendment 3. One mill equals $1 of tax per $1,000 of taxable value.

Example. At the statewide average non-school rate of 10.5 mills: $98.59 × 10.5 = $1,035 saved in 2027, and $198.59 × 10.5 = $2,085 saved in 2028.

Run your own estimate with the calculator resource from Florida TaxWatch.

Try the quick calculator

What Supporters Say

Supporters call it meaningful property tax relief for homeowners. More money stays in residents' pockets, which helps with affordability in a state where housing costs keep climbing. And the change from a 10% to a 5% cap on non-homestead assessment increases helps non-homestead owners too, including landlords, which can matter for renters further down the line.

What Opponents Say

Opponents point to the other side of the ledger. The revenue loss hits local services funded by property taxes: law enforcement, fire, parks, libraries, and infrastructure. They also note that the benefit is phased and complex for newcomers, and that because school taxes are untouched, many homeowners may expect bigger savings than they actually get. It's also worth knowing that Florida's attorney general was ordered by a Leon County circuit court to rewrite the original ballot language after it was found misleading. The Florida Policy Institute's voter guide lays out both sides of that conversation, so you can read the final wording for yourself before you vote.

What It Means for Relocating Buyers

If you're planning to move to Florida and buy a home this year, the date that matters is December 31, 2026. Close and establish permanent residency by then, and you keep full eligibility for the higher exemption as it phases in during 2027 and 2028. Move after January 1, 2027, and you'd start with the current $50,000 exemption for new residents, then need to maintain Florida residency for five years prior to receiving the increased homestead exemption.

A couple of practical reminders. Homestead applies only to your primary residence. Second homes, rentals, and investment properties don't get the homestead benefit, but they would feel the lower 5% assessment cap. And remember, the amendment needs 60% of the vote to pass, so nothing changes unless voters approve it.

Practical Next Steps

Here's how I'd approach it:

• Verify your own situation with a tax professional. Property tax rules interact with your personal residency, income, and timeline, so a pro who knows Florida law is worth the call.
• Read the full ballot language before you vote. The official Florida Division of Elections filing has the exact text, and Ballotpedia's summary is a helpful companion.
• Keep the bigger picture in mind. Tax policy is one input into a home-buying decision. Neighborhood, schools, commute, and the home itself still matter most, and that part I'm glad to help with.

If you're thinking about moving to Florida and want to talk through how all of this fits your timeline, let's have a conversation. No pressure, just clarity.

All the best,
Arturo