Homestead LedgerFlorida property tax
Ballot measure · Nov 3, 2026

Florida Amendment 3 Explained: The $250,000 Homestead Exemption

Updated October 3, 2026 · Status: on the ballot, needs 60% to pass

Amendment 3 would raise the homestead exemption on non-school property taxes to $150,000 in 2027 and $250,000 in 2028, make newcomers wait five years for the full benefit, and cut the yearly assessment cap on non-homestead property from 10% to 5%.

Short version. If you already own and live in a Florida home, Amendment 3 would cut the county, city and special district part of your bill sharply. Your school taxes would not change. Local governments would collect less, and how they respond (cutting services or raising millage within the new limits) will decide how much of the savings you keep.

What the amendment changes

1. A much larger homestead exemption on non-school taxes

Today a Florida homestead gets $25,000 off the assessed value for all taxes, plus an additional exemption ($26,411 in 2026) that applies only to non-school taxes on value above $50,000. That is $51,411 off non-school taxes in total.

Amendment 3 replaces the non-school amount with:

  • $150,000 starting January 1, 2027
  • $250,000 starting January 1, 2028
  • Annual inflation adjustments starting in 2029

School taxes keep the existing $25,000 exemption.

2. A five-year wait for new residents

Homeowners who establish their Florida homestead on or after January 1, 2027 would start with a $50,000 non-school exemption, adjusted for inflation from 2028. After four years of keeping the homestead they would qualify for the full exemption beginning January 1 of the fifth year. Anyone homesteaded by December 31, 2026 qualifies immediately.

3. A 5% cap for second homes, rentals and commercial property

Since 2009 the assessed value of non-homestead property can rise at most 10% a year for non-school taxes. Amendment 3 lowers that cap to 5%. It does not reduce what anyone pays now; it slows how fast the taxable value can grow.

4. Limits on local budgets

Orange County's summary of the measure says it also narrows the default maximum millage rate to the rolled-back rate, limits county and city property tax spending to seven categories (public safety, education, infrastructure, natural resources, debt service, employee retirement and general operations), and directs the Legislature to set a schedule for fully eliminating non-school taxes on homesteads.

How much would a homeowner save?

Estimates at Florida's statewide average rates of 5.904 school mills and 10.459 non-school mills, for an existing homestead, holding millage constant:

Assessed valueTax today20272028Savings / yr
$150,000$1,769$738$738$1,031
$250,000$3,405$2,374$1,328$2,077
$350,000$5,042$4,010$2,965$2,077
$500,000$7,496$6,465$5,419$2,077
$750,000$11,586$10,555$9,510$2,077

Savings rise with home value until the assessed value passes $250,000, then stay flat at roughly the non-school millage times about $199,000 of extra exemption. Counties with high non-school millage, such as Alachua, Dixie and Broward, see the largest dollar savings. Low-millage counties such as Monroe, Walton and Collier see the smallest. Check yours in the calculator or on your county page.

Timeline if it passes

  1. November 3, 2026: statewide vote; 60% approval required.
  2. January 1, 2027: amendment takes effect; $150,000 non-school exemption applies.
  3. August 2027: first TRIM notices reflecting the new exemption.
  4. November 2027: first tax bills with the reduction.
  5. January 1, 2028: exemption rises to $250,000.
  6. January 1, 2029: annual inflation adjustments begin.

The case for and against

What supporters argue

  • Rising values, insurance and HOA costs have made it hard for long-time owners to stay in their homes; a large exemption gives direct relief.
  • Florida already has no state income tax; shifting further away from taxing primary residences protects residents rather than investors.
  • Spending limits and the rolled-back-rate default force local governments to prioritize core services.

What opponents argue

  • The Florida Policy Institute estimates about $12 billion a year in lost local revenue for services such as emergency response, water management and infrastructure.
  • Small and rural counties that rely heavily on homestead property have fewer ways to make up the difference.
  • The burden shifts toward renters, businesses, newcomers and second-home owners, and the Institute on Taxation and Economic Policy argues property tax cuts are poorly matched to the real causes of housing costs.

We summarize both positions so you can decide; Homestead Ledger does not take a side on ballot measures.

Amendment 3 FAQ

When is the vote on Florida Amendment 3?

Amendment 3 is on the November 3, 2026 general election ballot. Like every Florida constitutional amendment, it needs at least 60% of the votes cast on the measure to pass.

When would Amendment 3 take effect?

January 1, 2027. The first TRIM notices showing the new exemption would arrive in August 2027 and the first lower bills in November 2027, according to the Pinellas County Property Appraiser.

Does Amendment 3 eliminate property taxes on homes?

No. School taxes stay, and non-school taxes still apply to assessed value above the new exemption. Summaries from local governments say the amendment also directs the Legislature to set a schedule for eventually eliminating non-school taxes on homesteads, which would require later legislation.

I'm moving to Florida in 2027. Do I get the $250,000 exemption?

Not right away. People who establish a Florida homestead on or after January 1, 2027 would receive a $50,000 non-school exemption for four years and become eligible for the full exemption starting January 1 of the fifth year.

Does Amendment 3 help landlords and second-home owners?

Indirectly. It lowers the annual cap on assessed value increases for non-homestead property from 10% to 5%. That slows tax growth when market values rise quickly, but it does not reduce the current bill and does not apply to school taxes.

How much revenue would local governments lose?

The Florida Policy Institute puts the statewide loss at about $12 billion a year. Orange County estimates its own reduction at $165 million in 2027 and $275 million in 2028.

Sources