Florida Amendment 3 (2026): What the Property Tax Vote on November 3 Would Actually Change

On Tuesday, November 3, 2026, Florida voters will decide Amendment 3, titled "Increased Homestead Exemption; Lower Cap on Increases in Non-Homestead Property Assessments." It is a legislatively referred constitutional amendment (CS/HJR 1-F, passed by the Legislature in a June 2026 special session). Because it changes the state constitution, it needs at least 60% of the vote to pass. This is not a tax cut that is already law, and it is not the 2024 Amendment 3 about marijuana — that was a different measure in a different year.

The short answer

If Amendment 3 passes, and only if it passes:

• The homestead exemption for non-school property taxes rises to $150,000 on January 1, 2027, and to $250,000 on January 1, 2028, with inflation adjustments from 2029.
• The annual cap on assessment increases for non-homestead property falls from 10% to 5% for non-school taxes.
• School taxes do not change. Save Our Homes does not change. Your November 2026 tax bill does not change either way — the first bill that could reflect Amendment 3 would be mailed in November 2027.

What homestead homeowners get today

For the 2026 tax year, the homestead exemption is worth up to $51,411, in two parts:

• $25,000 off assessed value for all taxes, including school taxes.
• A further $26,411 off non-school taxes only (county, city, and special district taxes). This second piece is indexed to inflation.

Two other protections sit alongside the exemption and are untouched by Amendment 3: Save Our Homes, which caps annual increases in a homestead's assessed value at 3% or the change in the Consumer Price Index, whichever is lower, and portability, which lets an owner carry up to $500,000 of accumulated Save Our Homes benefit to a new Florida homestead.

What Amendment 3 would change for homeowners

For a homeowner who is a permanent Florida resident as of December 31, 2026, with an approved homestead exemption:

• From January 1, 2027, the first $150,000 of assessed value is exempt from non-school taxes.
• From January 1, 2028, that rises to the first $250,000, with annual inflation adjustments beginning in 2029.
• The school-tax exemption stays at $25,000. That is why Amendment 3 does not eliminate anyone's tax bill: school taxes, and non-ad-valorem assessments such as fire, solid waste, and community development district fees, are not reduced by the new exemption.

A worked example, using taxable value only (your actual dollar saving depends on your county's millage rate, which varies): on a home assessed at $415,000 — around Florida's statewide median — the non-school taxable value today is roughly $415,000 minus $51,411, or about $363,600. If Amendment 3 passes, that same home's non-school taxable value in 2027 would be $415,000 minus $150,000, or $265,000, and in 2028 it would be $415,000 minus $250,000, or $165,000. The school-tax side is calculated separately and does not change.

The December 31, 2026 residency date matters

This is the part new buyers most often miss. The larger exemption is for people who are permanent Florida residents as of December 31, 2026. Someone who establishes Florida permanent residency on or after January 1, 2027 starts with a $50,000 non-school exemption (indexed to inflation from 2028) and does not qualify for the larger amount until the fifth year of the exemption. From 2030, a county or city could relax that waiting period by a two-thirds vote of its governing body on a finding of critical local need. The ballot summary adds that the waiting period applies only to the extent permitted by the U.S. Constitution, so this piece could be challenged in court — do not treat it as settled.

Practical meaning for buyers: if you are planning a Florida move, the residency date is worth knowing before you buy, but it is not a reason to rush a purchase. A home bought in 2027 still gets homestead protection; it simply starts on the new-resident tier.

What changes for investors, landlords, and second-home owners

Non-homestead property — rentals, second homes, commercial property, and vacant land — gets no new exemption. What changes is the cap: today, assessed value on non-homestead property can rise up to 10% a year for non-school taxes. Amendment 3 would cut that to 5%. That slows how fast an assessment can rise; it does not cap the tax itself, because millage rates can still move, and the school portion stays uncapped and tied to market value. It also does not guarantee lower rents — landlords are not required to pass any saving on.

What Amendment 3 does not do

• It does not eliminate property taxes. School taxes continue, and most homeowners would still receive a bill.
• It does not change Save Our Homes, portability, or the existing senior, veteran, widow, and disability exemptions.
• It does not change your 2026 bill, your 2026 TRIM notice, or the homestead filing deadline of March 1.
• It does not, by itself, make housing affordable. The state's Revenue Estimating Conference estimated the combined effect of the larger exemption and the 5% cap at roughly $4.9 billion in the 2027-28 fiscal year, rising to about $11.8 billion a year once fully in effect — money that would otherwise fund county and city services, which is the core of the debate against it.

What happens next

• If Amendment 3 reaches 60% on November 3, 2026, it takes effect January 1, 2027, appears on August 2027 TRIM notices, and first affects tax bills mailed in November 2027.
• If it falls short of 60%, current law stays in place and nothing in this article takes effect.
• Either way, the result will be certified by the Florida Division of Elections. We will update this guide once the result is official.

This article explains a ballot measure from public sources, including the enrolled amendment text (CS/HJR 1-F) and county property appraiser summaries. It is not tax or legal advice. For your own property, check with your county property appraiser or a Florida tax adviser — exemptions, millage rates, and deadlines vary by county.