Florida Amendment 3: What Homeowners Need to Know About the 2026 Property Tax Vote

Florida voters will decide on November 3, 2026, whether to approve Amendment 3, a proposed constitutional amendment that could significantly change the state's property tax system. Here's what homeowners, future buyers, and real estate investors should understand before voting.

What Is Florida Amendment 3?

Amendment 3, officially titled Increased Homestead Exemption; Lower Cap on Increases in Non-Homestead Property Assessments, proposes changes to how certain properties are taxed in Florida.

The proposal focuses on three major areas:

• Increasing the Homestead Exemption for qualifying primary residences.

• Reducing the annual assessment increase cap for non-homestead properties.

• Establishing new rules for certain property tax revenues collected by counties and municipalities.

If approved by at least 60% of voters, the amendment would take effect January 1, 2027.

1. An Increased Homestead Exemption: $150,000 in 2027 and $250,000 in 2028

One of the most significant parts of Amendment 3 is the proposed increase in Florida's Homestead Exemption.

Under the proposal:

• 2027: The exemption would increase to $150,000 for non-school property taxes.

• 2028: The exemption would increase to $250,000 for non-school property taxes.

• 2029 and beyond: The exemption would be adjusted for inflation.

The Homestead Exemption is a tax benefit available to eligible homeowners who use a property as their permanent primary residence.

What does this mean for homeowners?

If approved, a larger portion of the assessed value of an eligible primary residence would be exempt from certain property taxes, potentially reducing the homeowner's annual tax bill.

However, the increased exemption would not apply to school district taxes. Homeowners would continue to pay applicable school taxes and other assessments.

It is also important to understand that the exemption does not represent a direct cash payment or a guaranteed amount of tax savings. Actual savings depend on the property's assessed value and applicable tax rates.

2. Lower Assessment Cap for Non-Homestead Properties

Amendment 3 also proposes reducing the annual assessment increase cap for non-homestead properties from 10% to 5%.

Non-homestead properties generally include:

• Rental and investment properties.

• Commercial real estate.

• Second homes that do not qualify for homestead protection.

Currently, qualifying non-homestead properties are generally subject to a 10% annual assessment increase cap for applicable non-school property taxes.

Under Amendment 3, that cap would be reduced to 5%.

Why does this matter to real estate investors?

A lower assessment cap could help limit annual increases in assessed property values for qualifying non-homestead properties.

For landlords and investors, this could be an important consideration when evaluating long-term ownership costs and investment returns.

However, it does not guarantee that property taxes will decrease. Actual tax bills depend on several factors, including local tax rates and applicable assessments.

3. New Rules for Certain New Florida Residents

The proposal also establishes different eligibility timing for people who were not Florida residents as of December 31, 2026.

Certain new residents would initially receive the existing Homestead Exemption when they qualify. The increased exemption would begin with their fifth year of qualifying for homestead status, subject to constitutional requirements.

This is an important detail for people planning to relocate to Florida and purchase their primary residence after 2026.

4. How Could Amendment 3 Affect Local Communities?

Another part of the proposal concerns how counties and municipalities may use property tax revenue.

If approved, the amendment would establish specific categories for these funds, including:

• Public safety.

• Education and schools.

• Infrastructure.

• Natural resources.

• Bond debt service.

• Employee retirement benefits.

• Operations and administration.

The amendment could affect the amount of property tax revenue available to local governments and how those funds are allocated.

This is an important consideration because property taxes help support local services and community infrastructure.

What Does Amendment 3 Mean for Florida's Real Estate Market?

Property taxes are an important part of homeownership costs. Any significant change to Florida's property tax system could influence how buyers, sellers, homeowners, and investors evaluate real estate decisions.

For homeowners, a larger Homestead Exemption could provide potential tax relief.

For buyers, understanding homestead eligibility and property tax estimates is essential when calculating the total cost of homeownership.

For investors, the proposed reduction in the non-homestead assessment cap could affect long-term property ownership calculations.

It is important to remember that these are proposed changes. Existing property tax rules remain in effect unless the amendment receives the required voter approval.

When Is the Vote?

Election Day: Tuesday, November 3, 2026.

Florida voters will decide whether Amendment 3 becomes part of the Florida Constitution.

Because this is a proposed constitutional amendment, it requires approval from at least 60% of voters voting on the measure to pass.

Voters should review the official ballot language and understand both the potential benefits and the implications before making their decision.

Final Thoughts: Stay Informed About Florida Real Estate

Florida's property tax system plays an important role in homeownership, real estate investment, and local communities.

Whether you currently own a home, are planning to purchase property, or invest in Florida real estate, understanding proposed changes like Amendment 3 can help you make more informed decisions.

At Florida Best Home, we believe that staying informed about real estate and property ownership is an important part of making confident decisions.

Have questions about buying, selling, or investing in Florida real estate?

Contact our team at FloridaBestHome.com to learn more.

Disclaimer: This article is for general informational and educational purposes only. It is not legal, tax, or financial advice, and it does not endorse or oppose Amendment 3. Property tax savings and eligibility depend on individual circumstances, applicable laws, assessed values, and local tax rates. Consult your county Property Appraiser or a qualified tax professional for guidance.