Frequently Asked Questions
On the November 3, 2026 ballot, Florida’s proposed Amendment 3 would significantly alter Florida’s property tax structure by significantly increasing homestead exemptions and reducing the non-homestead assessment cap from 10% to 5%.
If passed, how would Amendment 3 affect my homestead property taxes?
Amendment 3 proposes replacing the current $50,000 homestead exemption for qualifying homestead property with the following:
- Beginning January 1, 2027, the current homestead exemption for non-school levied property taxes would increase to $150,000.
- Beginning January 1, 2028, the homestead exemption for non-school levied property taxes would increase to $250,000.
- Beginning January 1, 2029, the homestead exemption for non-school levied property taxes would be adjusted consistent with the Consumer Price Index.
If Amendment 3 passes, would I still pay property taxes as a homeowner?
Yes. The exemption does not apply to school property taxes, which account for approximately 40 percent of the average tax bill. The amendment increases the homestead exemption; it does not, by itself, eliminate a homeowner's tax bill. The amendment does require the Legislature to create a process to allow local governments to increase the amount of the homestead exemption up to all remaining value (which would effectively eliminate property taxes)---but there is no timeline or requirement for local governments to actually implement that process.
Would existing exemptions be affected?
No. Amendment 3 does not eliminate or replace Save Our Homes. Annual assessed value increases for qualifying homestead property would continue to be limited to 3 percent per year or the percent growth in the Consumer Price Index, whichever is less. In addition, Florida’s portability provisions, as well as Florida’s existing personal exemptions (e.g., widow/widower, seniors, veterans, disabled, etc.) remain unchanged.
Would second homes and rental/investment properties qualify for the additional homestead exemption?
No. Amendment 3 focuses on homesteaded primary residences; however, Amendment 3 proposes to reduce the maximum annual assessment increase cap from 10 percent to 5 percent for commercial properties, rental/investment homes, and vacation properties.
If passed, how would Amendment 3 impact my local government’s budget?
State economists predict that Amendment 3 would reduce local property tax revenue by nearly $12 billion on a recurring basis. Because property taxes are one of the primary revenue sources supporting local government operations, any significant reductions in property tax collections could require changes to county budgets, service levels, taxes, fees, or alternative revenue sources. As a result, local governments would have to decide whether to cut funding for these services or raise revenue by other means. The most likely scenario is a combination of significant service level reductions and/or tax and fee increases.
Will the state provide support to local governments to offset the loss in property tax revenue?
No. Amendment 3 includes no new, dedicated state funding to replace the property tax revenue local governments would lose. State funding to help local governments offset any property tax revenue loss would require action by future legislatures.
If passed, would Amendment 3 allow my local government to increase fees or taxes to offset the loss in property tax revenue?
Yes. Amendment 3 does not limit your local government’s ability to increase taxes or fees for things like parks, libraries, wastewater, and impact fees to make up for lost property tax revenue.
Would all Florida homeowners be eligible for the property tax exemptions?
No. Residential property owners who are permanent Florida residents as of December 31, 2026, would be eligible for the larger exemption amounts beginning in 2027. New permanent residents moving into Florida after December 31, 2026, would start with the current $50,000 homestead exemption, and would become eligible for the full $250,000 exemption after 5 years. However, after 2030, local governments could reduce the 5-year wait time to help meet a critical need.
Would the loss of property tax dollars under Amendment 3 ultimately shift the cost burden to renters, consumers, and small businesses?
It is likely. Eliminating such a significant share of Florida’s property tax base would require at least a significant portion of the lost revenue to be generated somewhere else, including increasing property tax rates. Increasing property taxes on rental and commercial properties means landlords and businesses will pay more, forcing them to choose between absorbing those costs or shifting them onto renters and consumers.
Could my property tax rate (millage rate) change in the future?
Yes. Taxing authorities establish property tax rates annually through their annual budget process. While there are limits to how high the tax rate can go, there is nothing in Amendment 3 that prohibits local governments from increasing your property tax rate up to the legal limit.
How much will I save on my property tax bill if Amendment 3 passes?
It depends on where you live. Property tax rates vary significantly across Florida. The average non-school property tax rate in the state is $10.50 per $1,000 of a property's taxable value. If you use that average rate, all homes assessed at more than $250,000 would save $1,035 in 2027 and $2,085 in 2028.
If your home is assessed at $150,000 or less in 2027 and $250,000 or less in 2028, you would only pay school taxes.
Quick Guide to Amendment 3
Increases the homestead exemption for non-school property taxes.
School district property taxes are not affected. The additional exemption applies only to non-school property taxes (about 60% of your tax bill). Applies only to homestead (primary residence) property; second homes, rental property, and commercial property are not eligible for the increased homestead exemption.
Who Qualifies
- Applies only to homestead (primary residence) property.
- Requires living in Florida for 5 years as a permanent resident to qualify. Counties and cities may reduce the 5-year requirement for a critical need after January 1, 2030.
- Second homes, rental property, and commercial property are not eligible for the increased homestead exemption.
Also In Amendment 3
- Reduces the assessment cap on non-homestead property from 10% per year to 5% per year.
- Requires the Legislature to create a process to allow cities and counties to increase the amount of the exemption, up to all remaining value, by general law (but no timeline or requirement for local governments to implement it).
- Special Districts may increase the amount of the exemption by referendum.
What Does Not Change
Does NOT impact current Save Our Homes savings, portability, or current exemptions (Veterans, Seniors, Widow/Widower).
Fiscal Considerations
- No prohibition from local governments increasing the millage rate or creating or increasing fees to make up for lost property tax revenue.
- No state reimbursement to fiscally constrained counties for lost revenue, as has been provided for prior property tax amendments.
Where Organizations Stand on Amendment 3
Statewide organizations that have publicly weighed in on Amendment 3. Each entry links to that organization’s own statement or analysis, in its own words. Florida TaxWatch does not support or oppose ballot measures; this list is provided for informational purposes.
In Support of Amendment 3
0No organizations listed yet — this section will be updated as public positions are announced.
Opposed to, or Raising Significant Concerns About, Amendment 3
9
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