Quick answer: Florida voters approved Amendment 3 on November 3, 2026, with about 62 percent of the vote. Starting January 1, 2027, the Florida homestead exemption for non-school property taxes rises to $150,000 of assessed value. On January 1, 2028, it rises to $250,000, with inflation adjustments after that. School taxes do not change. Homeowners who already have a homestead exemption do not need to reapply. The annual cap on assessment increases for non-homestead property, such as second homes and rentals, drops from 10 percent to 5 percent. The first tax bills showing the change arrive in November 2027. Election results are unofficial until the state certifies them.
This guide walks through what Florida Amendment 3 means for current homeowners, future buyers, new Florida residents, and owners of rental and second homes, with a focus on Hillsborough and Pasco County. It is based on the official ballot summary from the Florida Division of Elections and the amendment text passed by the Florida Legislature, CS/HJR 1F.
What is Florida Amendment 3?
Amendment 3 is a change to the Florida Constitution that increases the homestead exemption, lowers the assessment cap on non-homestead property, and sets rules for how local governments spend property tax revenue. Its official ballot title is “Increased Homestead Exemption; Lower Cap on Increases in Non-Homestead Property Assessments.” Florida constitutional amendments need 60 percent voter approval to pass, and Amendment 3 received about 62 percent on November 3, 2026.
Here is what Amendment 3 does, in one list:
- It raises the homestead exemption for all non-school property taxes to $150,000 in 2027 and $250,000 in 2028, then adjusts it for inflation.
- It leaves school district taxes exactly as they are.
- It phases in the larger exemption for people who were not Florida residents on December 31, 2026. They start with the current exemption and reach the full amount in their fifth year of homestead.
- It lowers the yearly cap on assessed value increases for non-homestead property from 10 percent to 5 percent for non-school taxes.
- It requires the Legislature to create a uniform process for counties and cities to raise the homestead exemption on their own taxes up to a home’s full assessed value, and lets special districts do the same with voter approval.
- It requires counties and municipalities to spend property tax revenue only on core needs, including public safety, education and schools, infrastructure, natural resources, bond debt service, employee retirement benefits, and operations and administration.
- It takes effect January 1, 2027.
How does the Florida homestead exemption work today?
The homestead exemption lowers the assessed value of your primary home before Florida property taxes are calculated. Under current law, the first $25,000 of assessed value is exempt from all property taxes, including school taxes. A second exemption applies to assessed value between $50,000 and $75,000 and covers non-school taxes only. That second amount is adjusted for inflation each year, so the total non-school exemption is a little over $51,000 in 2026.
Amendment 3 replaces that non-school structure with one larger exemption. The $150,000 in 2027 and $250,000 in 2028 are the new total amounts for non-school taxes, not extra amounts added on top of today’s. The $25,000 exemption for school taxes stays the same.
Two definitions matter for everything below. Assessed value is the value your county property appraiser places on your home, which can be lower than market value because of the Save Our Homes cap. Millage is the tax rate. One mill equals one dollar of tax for every $1,000 of taxable value. Your tax bill is your taxable value multiplied by the combined millage rates of your county, city, and other taxing authorities where you live.
When does Amendment 3 take effect?
Amendment 3 takes effect January 1, 2027. The key dates are:
- December 31, 2026: the residency cutoff. If you are a Florida resident on this date, the newcomer phase-in does not apply to you. The test is residency, not home ownership.
- January 1, 2027: the non-school homestead exemption becomes $150,000, and the 5 percent cap on non-homestead assessment increases begins.
- August 2027: the higher exemption first shows up on your TRIM notice, the estimated tax notice your county mails each summer.
- November 2027: the first tax bills reflecting Amendment 3 arrive.
- January 1, 2028: the non-school homestead exemption rises to $250,000.
- 2029 and later: the exemption is adjusted for inflation each year.
Your 2026 property taxes do not change, and there is no refund for taxes already paid.
How much will I save with Amendment 3?
Your savings depend on two things: your home’s assessed value and the non-school millage rates where you live. Florida TaxWatch offers a simple way to estimate. Add up the non-school millage rates on your most recent tax bill or TRIM notice, then multiply that total by $98.59 to estimate your 2027 savings, or by $198.59 to estimate your 2028 savings.
Using that method:
- At 10 mills of non-school taxes, the estimate is about $986 in 2027 and about $1,986 in 2028.
- At the statewide average of about 10.5 mills, Florida TaxWatch’s estimate is about $1,035 in 2027 and about $2,085 in 2028.
These are estimates at current tax rates. Local governments set millage rates each year, and a bigger exemption does not guarantee that rates stay the same, so treat any estimate as a guide, not a promise. The most accurate number for your home comes from your county property appraiser’s office.
One more milestone: starting in 2028, a homestead with an assessed value of $250,000 or less owes no non-school property taxes at all. School taxes still apply to every home.
Do I have to reapply for the homestead exemption?
No. If your homestead exemption is already in place, the larger amounts apply automatically starting with the 2027 tax year. There is no new application and no one you need to call.
If you own your primary home and have never filed for the homestead exemption, file with your county property appraiser’s office. Under Florida’s general homestead rules, you must own the home and live in it as your permanent residence on January 1 of the tax year, and the standard filing deadline is March 1. If you bought a home in 2026 and have not filed yet, March 1, 2027 is your deadline to have the exemption in place for 2027.
What if I already live in Florida but plan to buy a home later?
You are covered by the full schedule. The December 31, 2026 test is about Florida residency, not about owning a home on that date. If you are a permanent Florida resident on December 31, 2026, you qualify for the larger exemption whenever you buy a home and file for homestead, even if the purchase is years away. Your county property appraiser decides homestead eligibility when you apply.
A warning for buyers: do not budget your future taxes using the seller’s current tax bill. A long-time owner’s bill is often much lower than what a new buyer will pay, because the Save Our Homes benefit does not carry over at the old value when a home sells. Ask the property appraiser’s office for an estimate based on your purchase.
What if I am moving to Florida in 2027 or later?
Amendment 3 creates a phase-in for new residents. If you were not a Florida resident on December 31, 2026, you receive the current exemption when you qualify for homestead: $25,000 for school taxes and $50,000 for non-school taxes, with the $50,000 adjusted for inflation starting in 2028. The larger exemption begins with your fifth year of holding a homestead exemption. In practice, you hold the exemption for four years, and the full amount starts on January 1 of the fifth year.
The amendment states that this rule applies “to the extent permitted by the U.S. Constitution,” so the newcomer provision is the one part of Amendment 3 that could face legal review. If you are planning a move to Florida, this is the section to watch as the state puts the amendment into practice.
What changes for second homes, rental homes, and commercial property?
Property without a homestead exemption does not get the larger exemption. Its change is the assessment cap. Today, the assessed value of non-homestead property can rise up to 10 percent per year for non-school taxes. Starting January 1, 2027, that cap is 5 percent.
The cap limits how fast assessed value can grow. It does not cap your tax bill directly, and it does not apply to school taxes, which are still based on market value for non-homestead property. The 5 percent cap covers residential property of nine units or fewer that is not a homestead, such as a rental home or second home, along with all other non-homestead real property, such as commercial buildings and vacant land.
Renters do not receive a homestead exemption, because the exemption belongs to the owner who lives in the home. Whether any benefit reaches renters over time is up to each landlord and the local market.
Does Amendment 3 change Save Our Homes or portability?
No. Save Our Homes, the rule that caps how fast a homestead’s assessed value can rise at 3 percent or the inflation rate, whichever is lower, stays exactly as it is. Portability, which lets you transfer up to $500,000 of your Save Our Homes benefit to a new Florida homestead within the qualifying window, also stays as it is. Amendment 3 does not trigger a reassessment of your home, and passing it does not reset your assessed value to market value.
The exemption is per home, not per person. A married couple sharing one home claims one homestead exemption, and a single owner in the same home receives the same amount.
Does Amendment 3 lower CDD fees or other charges on my tax bill?
No. Homestead exemptions reduce ad valorem taxes, the taxes based on your home’s value. They do not reduce non-ad valorem assessments, which are the flat charges on many Florida tax bills. In the Wesley Chapel and Tampa Bay area, the most common example is CDD fees, the community development district charges that pay for infrastructure in many newer communities. Fire, solid waste, and similar assessments also stay the same. Even if your non-school ad valorem tax drops to zero, those charges remain on your bill.
Will my mortgage payment go down?
Possibly, but not right away. If your property taxes are paid through an escrow account with your mortgage, your monthly payment changes only after your loan servicer completes its next annual escrow analysis, which compares what you paid in with the new, lower tax bill. The lower tax bill and the lower mortgage payment usually do not arrive at the same time. If you pay your property taxes yourself, you will simply see the smaller bill when it arrives in November 2027.
Could local governments raise the exemption even further?
Yes, eventually. Amendment 3 requires the Legislature to set up a uniform process for counties and municipalities to increase the homestead exemption on their own levies up to a home’s full assessed value, and special districts can do the same if their voters approve it in a referendum. That process does not exist yet, so watch for the Legislature’s implementing law in the 2027 session and for any local votes after that.
The same amendment limits what property taxes can pay for at the county and city level: public safety, education and schools, infrastructure, natural resources, bond debt service, employee retirement benefits, and operations and administration. Florida’s Revenue Estimating Conference has projected that Amendment 3 will reduce local government revenue statewide by about $4.9 billion in fiscal year 2027-28 and about $8.7 billion in fiscal year 2028-29. Those figures are projections, and they explain why local budget decisions across Tampa Bay are worth watching as the new exemption phases in.
What should Florida homeowners do now?
- Confirm your homestead exemption is active. Look up your home on your county property appraiser’s website and check that the exemption shows on your record.
- If you bought a home in 2026 and have not filed for homestead, calendar March 1, 2027.
- Find your non-school millage total on your latest TRIM notice or tax bill, and run the Florida TaxWatch estimate above so you know roughly what 2027 and 2028 look like for your home.
- If you are planning a move to Florida, note which side of December 31, 2026 your residency falls on. It decides when the full exemption reaches you.
- When your August 2027 TRIM notice arrives, compare the taxable value line with this year’s. That is where Amendment 3 shows up first.
Frequently asked questions about Florida Amendment 3
What is Amendment 3 in Florida?
Amendment 3 is a Florida constitutional amendment approved by voters on November 3, 2026. It raises the homestead exemption for non-school property taxes to $150,000 in 2027 and $250,000 in 2028, lowers the assessment cap on non-homestead property from 10 percent to 5 percent, and sets rules for local property tax spending.
When does Florida Amendment 3 take effect?
January 1, 2027. It first appears on TRIM notices in August 2027 and on tax bills in November 2027.
Do I have to reapply for the homestead exemption to get the new amounts?
No. If your homestead exemption is already in place, the increased exemption applies automatically starting with the 2027 tax year.
Who do I contact about the homestead exemption?
Your county property appraiser’s office. That office approves and maintains homestead exemptions and can confirm your status and estimate your taxes.
How much will Amendment 3 save me?
It depends on your assessed value and your local non-school millage rates. Florida TaxWatch’s estimate method is to multiply your total non-school millage by $98.59 for 2027 savings and by $198.59 for 2028 savings. At about 10.5 mills, the statewide average, that works out to roughly $1,035 in 2027 and $2,085 in 2028.
Does Amendment 3 eliminate property taxes in Florida?
No. It increases the exemption for non-school taxes only. School taxes still apply to every home, and non-ad valorem assessments such as CDD fees are not reduced.
Does Amendment 3 apply to school taxes?
No. The exemption for school district taxes stays at the first $25,000 of assessed value, the same as current law.
Is Amendment 3 only for seniors?
No. Amendment 3 has no age requirement. It applies to every Florida homeowner with a homestead exemption, regardless of age.
What is the deadline to file for the Florida homestead exemption?
The standard deadline is March 1 of the tax year, and you must own the home and live in it as your permanent residence on January 1 of that year. File with your county property appraiser.
I am moving to Florida in 2027. Do I get the $250,000 exemption?
Not at first. New residents who were not Florida residents on December 31, 2026 start with the current exemption, $25,000 for school taxes and $50,000 for non-school taxes, and the larger exemption begins in their fifth year of homestead.
I rent my home. Does Amendment 3 help me?
The homestead exemption goes to owners who live in the home, so renters do not receive it directly. Owners of rental property do get the new 5 percent cap on assessment increases for non-school taxes.
Does Amendment 3 change Save Our Homes or portability?
No. The Save Our Homes cap of 3 percent or inflation, whichever is lower, and portability of up to $500,000 of benefit stay the same.
Will Amendment 3 lower my CDD fees?
No. CDD fees are non-ad valorem assessments, and homestead exemptions do not reduce them.
What if my home is assessed at $250,000 or less?
Starting in 2028, your non-school ad valorem property tax is zero. You still owe school taxes and any non-ad valorem assessments on your bill.
Can my city or county raise the exemption above $250,000 later?
Amendment 3 requires the Legislature to create a process for counties and cities to raise the exemption on their own taxes up to full assessed value, and special districts can follow with voter approval. That process still has to be set up in state law.
Sources: Florida Division of Elections, official ballot title and summary for Amendment 3 (2026); Florida Legislature, enrolled CS/HJR 1F (2026); Associated Press election results, November 3, 2026 (unofficial until state certification); Florida TaxWatch savings estimate method; Florida Revenue Estimating Conference projections. This article is general information about a new law, not tax, legal, or financial advice. For your specific property, your county property appraiser’s office is the authority on your exemption and your numbers.
Buying or selling in Tampa Bay or Wesley Chapel and want to talk through how Amendment 3 affects your plans? I am happy to help. Teresa Pagan-Hudson, LPT Realty, 813-230-2311, tampabaywithteresa.com.
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