What is Florida's Amendment 3 and how would it change my property taxes?

Amendment 3 would raise the homestead exemption for non-school property taxes. The exemption would grow from the current $50,000 to $150,000 in 2027 and then to $250,000 in 2028, with the amount indexed to inflation starting in 2029.

It would also lower the annual cap on assessment increases for non-homestead property, which includes rentals, second homes, and commercial property, from 10 percent to 5 percent starting in 2027. School district taxes would not be affected by the change.

The measure does not change the Save Our Homes cap, which limits how much a homesteaded home's assessed value can rise each year to 3 percent or the rate of inflation, whichever is lower. Portability, which lets you transfer that benefit to a new Florida home, also stays in place.

That matters for families moving up in South Florida, because the combination of the homestead exemption and portability is often a large part of the tax math on a new home.

The measure appears on the November 3, 2026 general election ballot and needs 60 percent approval to pass. Supporters say it eases the tax load on homeowners, while opponents point to the reduction in revenue for the counties, cities, and local services that rely on property taxes.

If it passes, the new exemption amounts would apply starting in 2027, and the non-homestead cap change would begin the same year.

For current owners, a larger homestead exemption can mean a smaller non-school tax bill, and for buyers, the tax picture is part of what makes a home affordable month to month.

The exemption is per home, not per buyer, and it applies to your primary residence, so families buying a new Florida home still apply for the exemption through the county property appraiser after they close.

I walk buyers and sellers through the current property tax picture for the specific home and county, including the homestead exemption, Save Our Homes, and portability when it applies.

Property tax decisions involve your personal financial situation, so I also point you to the county property appraiser and a tax professional for the numbers that apply to you.