Market Update · 16 min read
Florida Amendment 3 Passed: What It Means for Homeowners and Buyers
Florida Election Watch reports Amendment 3 at 61.98 percent yes, above the 60 percent required to pass. The measure raises the nonschool homestead exemption to $150,000 in 2027 and $250,000 in 2028 for qualifying residents, and it lowers the nonschool nonhomestead assessment cap from 10 percent to 5 percent, effective January 1, 2027. Certification is still a separate step.
Florida Election Watch reports Amendment 3 at 61.98 percent yes — 4,917,796 votes — against 3,016,195 no votes, or 38.02 percent, out of 7,933,991 votes on the measure. Amendments need 60 percent of the electors voting on the measure. Those are the figures on the state's compare page as checked November 5, 2026. County canvassing and state certification are later steps, so the posted totals can still be revised. [1]
The amendment increases the homestead exemption that applies to nonschool levies and slows assessment growth on qualifying nonhomestead property. Its effective date is January 1, 2027. It does not rewrite the 2026 tax roll. For an owner, the useful question is how the new amounts apply to one address, one residency history, and one tax bill. [2]
An exemption reduces the value a levy can tax. It is not a check, a smaller mortgage balance, or a new sale price. The ballot background written before Election Day is the Amendment 3 homestead explainer. Hernando owners watching the Anderson Snow Road delivery station can read that local file separately: Amazon on Anderson Snow Road.
What Florida Amendment 3 changes
For people who maintained a permanent Florida residence as of December 31, 2026, and who have established or will establish homestead, the Senate summary of CS/HJR 1F describes a nonschool exemption of up to $150,000 of assessed value beginning January 1, 2027, and up to $250,000 beginning January 1, 2028. Positive inflation adjustments to the larger amount begin in 2029. The basic school-district homestead exemption stays $25,000. The Revenue Estimating Conference describes the same split: the first homestead exemption applies to school assessed value, and the second nonschool exemption is replaced by those larger amounts. [2][3]
The annual limit on assessment growth for covered nonhomestead real property moves from 10 percent to 5 percent for nonschool levies, beginning in 2027. School levies stay outside that cap. Save Our Homes, the homestead assessment limit, is a different rule and stays in place. [2][3]
| Provision | 2026 baseline | Beginning in 2027 | Beginning in 2028 |
|---|---|---|---|
| Nonschool homestead exemption for the qualifying resident group | Up to $51,411 when assessed value supports both current bands | Up to $150,000 | Up to $250,000; positive inflation adjustments start in 2029 |
| School-district homestead exemption | $25,000 | $25,000 | $25,000 |
| Covered nonhomestead assessment growth, nonschool levies | 10 percent annual limit, with exceptions | 5 percent annual limit, with exceptions | 5 percent annual limit, with exceptions |
| Homestead assessment growth under Save Our Homes | Generally the lower of 3 percent or the CPI change | Same underlying rule | Same underlying rule |
The 2026 figure needs care. Department of Revenue sets the additional homestead exemption for 2026 at $26,411, applied to assessed value greater than $50,000. Together with the first $25,000, a qualifying homestead with enough assessed value can reach a combined nonschool exemption of $51,411. That is not one exemption applied in a single band to the first $51,411 of value. [4]
How to calculate the potential tax savings
Start with assessed value. That figure can differ from what a buyer would pay. Exemptions reduce assessed value to taxable value. Each taxing authority then applies its rate to the taxable value that levy uses. A mill is $1 of tax per $1,000 of taxable value: taxable value times the millage rate, divided by 1,000. [5]
Suppose an eligible existing resident has a homestead assessed at $300,000. Assume the combined applicable nonschool rate stays at exactly 10 mills. Assume no other exemptions, no change in assessed value, and no change in eligibility. Ten mills is a teaching rate, not a quoted Hernando, Pasco, Pinellas, or Hillsborough rate.
| Comparison year | Nonschool exemption used | Nonschool taxable value | Nonschool tax at 10 mills |
|---|---|---|---|
| 2026 baseline | $51,411 | $248,589 | $2,485.89 |
| 2027 illustration | $150,000 | $150,000 | $1,500.00 |
| 2028 illustration | $250,000 | $50,000 | $500.00 |
Under those fixed assumptions, the reduction from the 2026 baseline is $985.89 in 2027 and $1,985.89 in 2028. The 2028 step is $1,000 below the illustrated 2027 amount. These are calculations from the published exemption amounts. They are not an estimate for a particular county or house. The example also freezes the 2026 baseline. It does not forecast what the old formula would have produced after later inflation adjustments. [2][4]
School taxes and non-ad valorem assessments are left out. In this simplified example, school taxable value would remain $275,000 after the basic $25,000 exemption. A home with less assessed value to exempt cannot receive the same dollar result. A household that already has other exemptions can land somewhere else. Build the comparison from the parcel's own record before treating the headline as room in the household budget.
Who qualifies for the larger homestead exemption
December 31, 2026 is a permanent-residency cutoff, not a universal purchase deadline. The Senate summary includes people who maintained permanent Florida residence as of that date and who have established or will establish homestead. A qualifying Florida resident who rents today and buys a homestead later can fall in the larger-exemption group. The county property appraiser decides eligibility. Buying an investment property before the cutoff does not make it the owner's permanent residence. A purchase date, a mailing address, and a residency determination answer different questions. [3][6]
How the newcomer amount works
For people who did not maintain a permanent Florida residence as of December 31, 2026, the Senate summary provides a nonschool exemption of up to $50,000 beginning in 2027, with positive inflation adjustments beginning in 2028. The larger exemption begins with the fifth year of the exemption. That is different from counting five years since the move to Florida. The revised ballot summary makes that newcomer distinction subject to what the U.S. Constitution permits. [3][7]
The $50,000 newcomer amount is also different from the 2026 combined illustration of $51,411. Do not carry the 2026 figure into the new schedule without checking the year and the category. If an eligible newcomer's first exemption year is 2028, the fifth year is 2032. The purchase date alone does not set the first exemption year. Ask the property appraiser when the homestead begins and which documents establish the residency category.
Save Our Homes and portability still need separate attention
Save Our Homes generally limits later annual growth in a qualifying homestead assessment to the lower of 3 percent or the applicable CPI change. The gap between just value and assessed value can become large. Assessed value can still rise under the recapture rule when market value falls, as long as it stays below just value. A lower estimated sale price does not automatically produce a lower assessment. The new exemption then applies to the assessment. It is a separate layer. [8]
Portability may let an eligible owner moving between Florida homesteads transfer some or all of the prior assessment difference. It has its own application and timing. Department of Revenue guidance measures the three-year window to establish the new homestead from January 1 of the year the previous homestead was abandoned, rather than simply three years from the sale. [8]
A household that is selling and buying should assemble both property records before comparing the two houses. Ask for a calculation that shows the new home's estimated assessment, any available portability, the homestead exemption that applies, and the rates on that parcel. Subtracting one number from the asking price does not do that work. Coordinating the two closings is the separate note, buy and sell a Florida home at the same time.
What buyers and sellers should do differently
Buyers should estimate their own tax bill
A seller's current bill can reflect years of assessment protection. A purchase generally brings a reassessment at just value on the following January 1, subject to the exceptions and benefits that apply. Department of Revenue cautions buyers that their taxes can differ from the previous owner's taxes. Request an address-specific estimate that matches the intended use and the exemption you expect to claim. If you are buying during 2027, ask which benefits are on the current bill and which should apply after the next assessment date. Put taxes next to insurance, association charges, maintenance, and the loan. The weekly mortgage print already on this site is Freddie Mac's October 29 survey. How a late-2026 appraisal report is read sits on the Florida UAD 3.6 briefing. [5][9]
For new construction, ask whether the displayed tax history is land only or a partly finished improvement. A larger exemption can help, and the finished house can still carry an assessment unlike the historical record. An online listing's tax field is not a complete ownership budget. Deposit timing on the purchase contract is the earnest money guide.
Sellers should explain the records without promising the result
Provide the current property record and tax documents, and point buyers to their own estimate. Two buyers can look at the same house and have different residency histories and different portability positions. A single advertised annual savings figure, taken only from the exemption headline, does not describe both of them.
The tax change also does not set a list price. Comparable sales, condition, competing inventory, and buyer response still do that work. Our Florida home pricing strategy guide is that conversation. If you are selling and buying, a lower future bill on the current house does not answer whether the replacement house fits the family's cash.
What the five percent cap means for rentals and commercial property
The new limit is about growth in covered nonschool assessed value. A change in ownership or control, a qualifying improvement, and other exceptions can change how it applies. The residential and nonresidential constitutional provisions differ in their reset rules, so a purchaser should confirm the treatment of the actual transaction. [2]
Consider a hypothetical covered property with a prior nonschool assessed value of $400,000. If no exception applies and just value supports the increase, a 5 percent limit permits growth to $420,000, compared with $440,000 under a 10 percent limit. That is $20,000 less assessed value in the illustration. It is not $20,000 of tax savings. Rates, exemptions, school taxation, and separate assessments still sit on the bill. A cap on one input does not hold the whole bill to the same percentage.
Investors should read the purchase-year estimate, the following-year estimate, the leases, any tax-reimbursement language, and planned improvements. Renters should not assume an automatic rent cut. A landlord's expense change and the lease in front of them are separate questions. National construction volume, a different file, is the September construction-spending note.
Why the effect will differ across Florida counties
The statewide schedule does not produce the same percentage reduction in every county. Assessed values, existing exemptions, ownership patterns, local rates, city limits, and special districts all sit in the mix. Inside one county, two similar houses can fall under different combinations of levies.
For a practical local review:
- Hernando County. For a home in Spring Hill, Brooksville, or another community, identify the parcel's taxing jurisdictions and separate value-based taxes from service assessments. Compare an existing owner's record with a buyer's projected assessment. County growth context is the ten-year Hernando briefing.
- Pasco County. Ask for the full schedule of taxes and any district or association charges. If the house is newly built, confirm that the estimate includes the completed home.
- Pinellas County. For a condominium, a second home, or a primary residence, confirm the use and the exemption status. Keep association assessments, insurance, and building costs separate from the property-tax calculation.
- Hillsborough County. Compare the parcel's jurisdiction, ownership history, and proposed use. A primary residence, a rental, and a commercial property need different assumptions even on the same street.
These are review questions. They are not a forecast that one county's owners gain more than another's. A countywide average cannot decide a particular address. The third-quarter metro price tape, a different object from assessed value, is NAR's Q3 metro briefing.
What the state projected for local revenue
The Revenue Estimating Conference's July 10, 2026 analysis estimated that approval would reduce statewide nonschool local property-tax cash revenue by $4,929.5 million in fiscal year 2027–28 and $8,714.5 million in fiscal year 2028–29. Those are modeled reductions against the conference baseline. They are not final collections and they are not a household savings figure. The model used 2025 tax-roll and millage information, forecasts, and assumptions about newcomers. It did not assume every optional local exemption expansion. The adopted table showed no direct school-revenue impact from the modeled exemption and cap provisions. [10]
A change in taxable value changes the base available for local services. Whether a particular government changes spending, rates, or other revenue is that government's own decision. It cannot be read off a statewide headline. Residents who care about that question should follow the budget hearings for the governments that actually tax the parcel.
What remains a local or administrative decision
The amendment calls for a statutory procedure so counties and municipalities can increase exemptions for their own levies, potentially to the remaining assessed value. Special districts can increase their exemptions by referendum. Neither is an automatic extra exemption on every property. Beginning in 2030, a county or municipality may shorten the newcomer period by a two-thirds vote of the governing body when a critical local need warrants it. Include that possibility in a budget only after the local action exists. [3]
The permitted uses of county and municipal property-tax revenue include public safety, education, infrastructure, natural resources, authorized bond financing, existing debt, employee retirement benefits, and government operations. The ballot summary also allows other expenditures approved by county officers or the governing body unless general law prohibits them. The shorter headline list is not a ban on every other service. [7]
Related administration law is already on the books. Chapter 2026-240, Committee Substitute for Senate Bill 4-F, was approved by the Governor on June 24, 2026. It revises millage-administration and voting rules and allows the ballot summary for this Article VII amendment to exceed the usual word limit. The Revenue Estimating Conference describes the core exemption and assessment-cap provisions as self-executing, and it identifies further legislative work for the broader local procedure that would let cities and counties exempt still more value. Follow the county property appraiser for application instructions. [10][11]
How to read the next notice
The annual Truth in Millage notice, the TRIM notice, shows proposed taxes. It is not a payment demand. It identifies values, exemptions, taxing authorities, proposed rates, hearings, and review deadlines. [12]
Read the next notice in this order:
- Confirm the property, the ownership, and the use.
- Compare just value with assessed value and note any assessment limitation.
- Check the exemption shown for each levy.
- Separate school taxable value from nonschool taxable value.
- Compare rates as well as taxable values before explaining a dollar change.
- Review non-ad valorem assessments on their own, and write down the hearing and appeal dates.
Keep the 2026 record for comparison. Value and exemption questions go to the property appraiser. Rate questions go to the taxing authority. Payment questions go to the tax collector. Hernando's clerk explains that a valuation petition generally must be filed by the 25th day after the proposed-tax notice is mailed. The deadline that controls is the one printed on the notice. [5][13]
How Bridge Point puts the change in context
Bridge Point Business & Real Estate Advisors has three certified appraisers, two residential and one commercial, for residential, commercial, land, and specialized valuation assignments. A scoped appraisal can help with a market-value question. The county property appraiser administers the assessment and the exemption. Start by naming which question you need answered, then bring the records that match it. [14]
For a purchase or a sale, the conversation comes back to location, condition, comparable sales, and the goal of the transaction. Where financing is part of the decision, Bridge Point introduces licensed lenders. The lender handles loan approval and the payment calculation. Policy context after the October FOMC hold remains a separate file from this tax change. Statewide markets stay on Florida. Purchase and sale work sits on residential buying and residential selling. Appraisal assignments sit on appraiser. Mortgage introductions sit on mortgage. [15]
Call 352-515-0226, email Info@BridgePointBREA.com, or contact Bridge Point. Bring the address, the current tax record, and the timing you have in mind.
*This article provides general educational information about a constitutional amendment and public tax records. It is not tax, legal, or appraisal advice for a particular parcel. Confirm eligibility and calculations with the county property appraiser and a qualified tax adviser.*
Sources and further reading
Prepared November 5, 2026. Election figures are the state compare-page totals checked that day. Certification can revise them.
[1] Florida Department of State — Florida Election Watch, Amendment 3
[2] Florida Legislature — Enrolled CS/HJR 1F
[3] Florida Senate — CS/HJR 1F bill summary
[4] Florida Department of Revenue — 2026 additional homestead exemption adjustment
[5] Florida Department of Revenue — Property tax information for first-time Florida homebuyers
[6] Florida Department of Revenue — Property tax exemptions and additional benefits
[7] Flagler County Supervisor of Elections — 2026 General Election, Amendment 3 ballot summary
[8] Florida Department of Revenue — Save Our Homes assessment limitation and portability transfer
[9] Florida Legislature — Section 193.155, Florida Statutes
[10] Revenue Estimating Conference — July 10, 2026 impact analysis of CS/HJR 1F
[11] Laws of Florida — Chapter 2026-240
[12] Sarasota County Property Appraiser — TRIM notice guide
[13] Hernando County Clerk — Value Adjustment Board
[14] Bridge Point — Residential and commercial appraisal services
[15] Bridge Point — Mortgage guidance
[16] Florida Senate Appropriations Committee — Analysis of companion CS/SJR 2F
Questions people ask first
Quick answers to common questions about this topic.
Did Florida Amendment 3 pass in 2026?
Florida Election Watch reports 4,917,796 yes votes, 61.98 percent, and 3,016,195 no votes, 38.02 percent. Amendments require 60 percent. Those figures were checked November 5, 2026. Certification is a later step and can revise the posted totals.
When does the new property tax amendment take effect?
The amendment specifies January 1, 2027. It does not replace the exemption already used on the 2026 tax roll. Check the assessment year when you compare a notice, a bill, or a purchase estimate.
Does Amendment 3 eliminate all property taxes?
No. The larger homestead amounts apply to nonschool levies, and taxable value can remain. School taxes and separate assessments need their own calculations. Optional local increases require additional government action.
Do I have to buy a house by December 31, 2026?
That date is the permanent Florida residency cutoff for the larger-exemption category. It is not a universal purchase deadline. A qualifying resident may establish homestead later. Confirm the facts with the county property appraiser.
Do newcomers wait five years after moving to Florida?
The text uses the fifth year of the exemption, not simply five years after a move. If the first exemption year is 2028, the fifth is 2032. The ballot summary also notes the limit of what the U.S. Constitution permits.
Is the new five percent cap a limit on my total tax bill?
No. It limits covered nonschool assessment growth, subject to exceptions. Rates, school taxes, separate assessments, and changes in ownership or improvements can still move the complete bill.
Will the seller's tax bill tell me what I will pay?
It is useful background. A purchase can trigger reassessment, and your exemptions can differ from the seller's. Ask for an estimate that reflects the property, the use, eligibility, and any portability you can claim.
Should I change my asking price because the amendment passed?
Review comparable sales, competing listings, condition, and what buyers can afford before you change a price. The tax change is one consideration. It does not set a universal change in market value or guarantee a buyer's savings.
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