Florida voters approved Amendment 3 on November 3, 2026, with about 62% of the vote, clearing the 60% threshold required to change the state constitution. It is the biggest property tax overhaul Florida has seen in years: a much larger homestead exemption for people who live in their own homes, and a tighter cap on assessment increases for everything else. If you already own in Florida, or you are in another state and thinking about making the move, here is what changes, when it starts, and why the calendar now matters more than usual.
The result was confirmed with 99% of the vote counted, according to WUSF, the public media station at the University of South Florida. Governor Ron DeSantis and the Republican Party of Florida backed the measure, and Florida Realtors ran a statewide campaign in favor. Local governments, the Florida Sheriffs Association and tenant advocates opposed it, warning about cuts to local services. Both sides make serious points, and it pays to understand them before you make a move.
What Amendment 3 Actually Changes
The amendment works on two fronts. The first is the homestead exemption, the reduction in taxable value granted on a permanent resident's primary home. For 2026, that exemption tops out at $51,411, and only the first $25,000 applies to school taxes. The second is the annual cap on how fast the assessed value of non-homestead property can rise.
According to the Florida TaxWatch guide to Amendment 3, an independent fiscal research group that does not take positions on ballot measures, the key provisions are:
- Effective date: January 1, 2027. Your 2026 tax bill follows current law.
- School taxes are untouched: the larger exemption applies to county, city and special district taxes. School taxes, roughly 40% of the average bill, stay the same.
- Save Our Homes stays: annual assessment increases on homesteads remain capped at 3% or inflation, whichever is lower.
- Portability is preserved: if you sell your homestead and buy another one in Florida, you can still carry your accumulated savings with you. Personal exemptions for seniors, veterans, widows, widowers and people with disabilities are also unchanged.
- Non-homestead property: rentals, vacation homes, second homes and commercial property now face a 5% annual assessment cap instead of 10%.
If You Already Own a Home in Florida
Your primary residence (homestead)
Permanent Florida residents with a homestead are the biggest winners. Using an average non-school rate of $10.50 per $1,000 of taxable value, Florida TaxWatch estimates that a home assessed above $250,000 would save about $1,035 in 2027 and about $2,085 in 2028. Homes assessed at $150,000 or less in 2027, or $250,000 or less in 2028, would owe only school taxes.
Your actual savings depend on your county and city millage rates. In Orange County, for example, the county rate has held steady for many years, which we break down in our analysis of Orange County property taxes and Amendment 3. Watch for your TRIM notice in August 2027 and check your county property appraiser's website to see how the new exemption is applied to your parcel.
Thinking about trading up or downsizing
Because portability survives, current homesteaders who move within Florida keep their Save Our Homes savings and still benefit from the larger exemption on their next primary home. For long-time owners who have been holding off on a move because of a higher tax bill on the next house, the math just got friendlier.
Your second home, vacation home or rental
Non-homestead property does not get the larger exemption, but it does get more predictability. With the cap dropping from 10% to 5%, taxable value grows more slowly in strong appreciation cycles. Spectrum News 13 spoke with a Largo landlord with five rentals who estimated roughly $1,200 a year in savings on one property over a ten-year horizon. That is one owner's estimate, not an average, but it shows how a lower cap compounds over time.
Florida residents who rent today
If you already live in Florida but rent, you are in a good position. The official FAQ published by Florida property appraisers says residents who establish permanent residency by December 31, 2026 become eligible for the larger exemption when they later buy a home and apply for homestead. In other words, you do not need to rush a purchase before year end to lock in the benefit, as long as your residency is in place.
If You Live in Another State and Plan to Move to Florida
This is where timing really counts. Under the amendment, anyone who is not a Florida resident on December 31, 2026 starts with the current exemption of about $50,000 and only moves up to the larger exemption beginning in the fifth year of homestead, according to the FAQ published by Florida's property appraisers. Florida TaxWatch notes that starting in 2030, counties and cities may shorten that five-year wait, but nothing requires them to.
- If your move is already planned: the difference between becoming a Florida resident before or after December 31, 2026 can add up to thousands of dollars over your first five years. Establishing Florida domicile typically involves steps such as moving into a Florida residence, getting a Florida driver's license, registering to vote and filing a declaration of domicile, but requirements and proof standards can vary. Talk with a Florida attorney or CPA before relying on any date.
- If you are a snowbird with a Florida second home: that property is non-homestead today and benefits only from the 5% cap. If you were already considering making Florida your permanent home, the deadline is a reason to have that conversation with your tax advisor now, especially because changing domicile also affects your home state's income tax treatment.
- If your move is a year or two away: you still gain from the start. You get the current exemption on day one, Save Our Homes protection, and the full larger exemption from your fifth year of homestead. Choosing the right county can matter as much as the timing.
Florida continues to draw new residents for jobs and lifestyle. In the Orlando area alone, we covered how 2026 job growth is supporting housing demand, and if you are weighing where to land, our relocation guide to St. Cloud for out-of-state buyers is a good example of how to compare communities beyond the tax bill.
The Counterpoints Every Buyer Should Weigh
A change this large has a cost, and a smart decision looks at the risks as carefully as the benefits:
- Lost local revenue: the state's economic analysis projects that local governments could lose nearly $5 billion in the first year, close to $9 billion the next, and a recurring impact approaching $12 billion, as reported by WUSF.
- Millage rates and fees can rise: the amendment provides no state money to replace that revenue. Florida TaxWatch notes that cities and counties can raise millage rates up to legal limits and increase fees for services such as wastewater, parks and impact fees. A 5% cap limits how fast assessed value grows, not the tax rate applied to it.
- Pressure on local services: the Florida Sheriffs Association warned about public safety funding, and Senate President Ben Albritton came out against the measure over its impact on resource-strapped rural communities.
- Renters may not see relief: tenant advocates point out that nothing requires landlords to pass savings on to tenants, and higher local fees can reach renters indirectly.
- Implementation details are still coming: the Legislature still has to write parts of the implementing rules, and the ballot language itself was rewritten after a court found the first version misleading, as tracked by the Florida Chamber of Commerce. Expect clarifications through 2027.
- Property tax is only part of the cost: homeowners insurance, HOA dues, maintenance and financing still drive the total cost of owning in Florida. No purchase decision should rest on the property tax change alone.
Turning Amendment 3 Into a Plan
- Current homesteaders: confirm your homestead record with your county property appraiser and review your 2027 TRIM notice when it arrives.
- Florida renters: make sure your residency documentation is solid before December 31, 2026, then buy on your own timeline.
- Out-of-state movers: decide with your attorney or CPA whether establishing Florida residency before year end makes sense for your situation.
- Second home and rental owners: rerun your cash flow projections with the 5% cap, and add a conservative scenario with higher local millage.
- Everyone choosing where to buy: look at each county's fiscal health. Areas with a diversified tax base are usually better positioned to absorb lost property tax revenue without steep rate increases.
Updated November 4, 2026. This article is for informational purposes and is not tax or legal advice. Consult a Florida CPA or real estate attorney about your specific situation.
Frequently Asked Questions
Did Florida Amendment 3 pass?
Yes. In the November 3, 2026 election, Amendment 3 received about 62% of the vote, above the 60% required to amend the Florida Constitution.
When does the new homestead exemption take effect?
The changes take effect on January 1, 2027. The exemption from non-school property taxes rises to $150,000 in 2027 and $250,000 in 2028, with inflation adjustments starting in 2029. 2026 tax bills follow current rules.
I am moving to Florida from another state in 2027. Do I get the $250,000 exemption?
Not right away. People who are not Florida residents on December 31, 2026 start with the current exemption of about $50,000 and move to the larger exemption beginning in their fifth year of homestead.
Do I need to own a Florida home by December 31, 2026 to qualify?
According to the FAQ published by Florida property appraisers, what matters is establishing permanent Florida residency by December 31, 2026. Residents who meet that deadline become eligible for the larger exemption when they later buy a home and apply for homestead.
Does my second home or rental property qualify for the larger exemption?
No. The homestead exemption applies only to a permanent Florida resident's primary residence. Second homes, vacation homes and rental properties do not receive the larger exemption, but their annual assessment increases are now capped at 5% instead of 10%.
Will my Florida property tax bill definitely go down?
Not necessarily. School taxes, roughly 40% of the average bill, are unchanged, and local governments can raise millage rates and fees to offset lost revenue, so your final bill depends on your county and city.
