Florida Amendment 3 Property Tax 2026: Explained for Homeowners, Buyers and Investors

Florida Amendment 3 — "Increased Homestead Exemption; Lower Cap on Increases in Non-Homestead Property Assessments" — is on the November 3, 2026 statewide ballot. If 60% of voters approve, it would deliver the biggest homestead tax break in decades: the exemption from non-school property taxes rises to $150,000 in 2027 and $250,000 in 2028 (inflation-adjusted from 2029), and the annual assessment-growth cap on non-homestead property (rentals, second homes, commercial) drops from 10% to 5%.

Polls show a majority in favor — but below the 60% threshold needed to pass, so the outcome is genuinely uncertain. Here's what the measure does, what you'd save, and what it means for the Florida housing market either way.

What Florida Amendment 3 Actually Does

The amendment changes two things in the Florida Constitution:

1. Bigger homestead exemption (owner-occupied homes). The exemption from property taxes that fund county and city services (not schools) would jump in phases:

• 2027: exemption rises to $150,000
• 2028: exemption rises to $250,000
• 2029 onward: adjusted for inflation

So if your home is assessed at $400,000, you'd be taxed on just $250,000 of that value by 2028 for non-school purposes. Your school-district taxes are untouched — the school homestead exemption stays at $25,000.

2. Lower cap on non-homestead assessment increases (5% instead of 10%). Properties without homestead protection — rental homes, second homes, commercial buildings — currently see assessed values capped at 10% annual growth. Amendment 3 cuts that to 5%, limiting how fast taxable value (and tax bills) can climb for landlords, snowbirds, and businesses.

Both provisions take effect January 1, 2027 if voters approve (RISMedia, October 14, 2026).

The Catch for New Residents: the December 31, 2026 Deadline

Moving to Florida? The amendment rewards people who are already here. To get the full phased-in benefit, you must be a permanent Florida resident by December 31, 2026. Arrive later and you wait five years for the larger exemption. If you're planning a move, that deadline lands less than two months after the vote — worth factoring into your timing. See Moving to Florida: Pros and Cons 2026.

Will It Pass? What the Polls Say (as of October 23, 2026)

Short answer: probably close — and the trend is tightening. Florida constitutional amendments need 60% to pass, and most polls released this week put support in the low-to-mid 50s:

• University of North Florida Public Opinion Research Lab (Oct. 12–19, 1,471 likely voters, telephone): 50% support, 30% oppose, 14% undecided — the most recent poll in a run of surveys putting support below the 60% threshold (via news-usa.today, Oct. 21).
• Stetson University Center for Public Opinion Research (this week): 51% support, 25% oppose, 24% undecided.
• EDGE Communications/MDW Communications (this week): 50% yes, 27% no, 23% undecided.
• Associated Industries of Florida Center for Political Strategy (Oct. 14): 53% support — and the measure failed to reach 60% in any of Florida's media markets; 19% undecided.
• McLaughlin & Associates (for AIF): support slipped to 53% after voters heard the amendment's full language.
• NBC6/Telemundo + Mason-Dixon (Oct. 7): 55% support, 26% oppose, 19% undecided — a majority, but short of 60%.
• James Madison Institute/Targoz (Sept. 28–Oct. 4, 1,200 voters, 857 likely): 63% among likely voters — above the 60% threshold, but not safely above it. A University of North Florida survey in July found support collapsed to 45% once respondents were told the measure would cost local governments $11.86 billion in revenue.
• St. Pete Polls for Florida Politics (Oct. 5–7, 836 likely voters): just 42% support, 35% oppose, 23% undecided — markedly lower than every other poll. One caveat: the question was worded as if the amendment would eliminate non-school property taxes on homesteaded primary residences, when it would only reduce them for all homeowners — so treat this as a wording-driven outlier, not a new downward trend (via CPA Practice Advisor, Oct. 13).

The pattern is consistent: support runs in the low-to-mid 50s and drops when voters hear the revenue-loss argument. "It's probably going to be close," said UCF political scientist Aubrey Jewett. "60% is a pretty significant threshold."

With 19–24% undecided in most surveys, the final ad blitz will decide it. Expect a flood of ads: supporters have raised $18 million (all from the Florida Association of Realtors), versus just $537,357 for the two opposition committees — a 33-to-1 funding gap (campaign finance figures, end of September 2026).

How Much Would You Save?

The statewide average savings estimates come from Florida TaxWatch:

Year	Avg. statewide savings (homestead)
2027 ($150K exemption)	~$1,035
2028 ($250K exemption)	~$2,085

In Miami-Dade, homeowners with homestead could save around $1,500 a year. Higher-tax cities and higher-value homes see bigger dollar savings; lower-value homes see less. Remember: these savings apply only to the non-school portion of your tax bill — roughly two-thirds of the typical bill. School taxes don't change.

The trade-off, and the main argument against: state economists project up to $12 billion a year in lost local-government revenue within five years. To make that concrete, Palm Bay's city manager's office puts the hit at about $22 million in year one and $45 million in year two for that city alone (on the public record, Oct. 15, 2026). Counties and cities fund police, fire, roads, and parks with those dollars — and 55% of opponents in the Mason-Dixon poll cited reduced local services as their concern. Supporters counter that local governments can trim spending or that growth will fill the gap.

What It Means for the Florida Housing Market

Whether it passes or fails, Amendment 3 is already shaping the conversation around Florida real estate:

If it passes:

• Cheaper to own. Lower ongoing tax bills improve the affordability math for every buyer. Florida's carrying costs (taxes + insurance) are already a bigger deal than in most states — see Florida Home Prices by City 2026 and our complete 2026 market guide.
• Rents could ease, slightly. The 5% non-homestead cap slows assessment growth on rental property, which is part of why landlords raise rents. Modest relief at the margin — not a rent freeze.
• Demand and prices could tick up. Realtor.com senior economist Joel Berner has estimated that eliminating property taxes on owner-occupied homes outright would push property values up 7–9% — a smaller version of that effect applies here. Tax relief capitalizes into prices, which is great for existing owners but makes entry harder for first-time buyers.
• Commercial and second homes get shelter. The 5% cap is the first meaningful protection non-homestead property has ever had.

If it fails:

• Status quo holds: $50,000 homestead exemption structure and 10% non-homestead cap stay in place.
• Gov. DeSantis has already signaled he wanted something bolder — he pushed to include school taxes and create a state fund for fiscally constrained counties. A failed Amendment 3 could set up a bigger property-tax fight in 2027–28.

For Investors: the 5% Cap Matters More Than the Homestead Boost

If you own Florida rentals or are scouting investment property, the homestead exemption doesn't apply to you — but the non-homestead cap cut from 10% to 5% does. In rising markets, assessed values climbing 10% a year can outpace rent growth; a 5% ceiling cuts the worst-case tax trajectory in half. That's a real improvement to long-term hold math in appreciating metros like Tampa and Miami. For the full picture, read Investing in Florida Real Estate 2026.

Timeline: What Happens Next

• Now – Nov 2: Early voting (Oct 24–31 statewide; some counties, e.g. Broward, open as early as Oct 19) and the final ad blitz (supporters outspend opponents 33-to-1).
• Nov 3, 2026: Election Day. Needs 60% to pass.
• If passed: takes effect Jan 1, 2027; $150,000 exemption begins with 2027 tax year.
• Jan 1, 2028: exemption rises to $250,000, inflation-adjusted from 2029.
• Dec 31, 2026: residency cutoff for the full phased-in benefit — move before year-end or wait five years.

We flagged this vote as a market-mover in our Florida real estate market guide — that guide will get a full freshness refresh right after the results come in.

Frequently Asked Questions

What is Florida Amendment 3 2026?

It's a constitutional amendment on the November 3, 2026 ballot titled "Increased Homestead Exemption; Lower Cap on Increases in Non-Homestead Property Assessments." It would raise the homestead exemption for non-school property taxes to $150,000 in 2027 and $250,000 in 2028, and cut the non-homestead assessment-growth cap from 10% to 5%. It needs 60% voter approval to pass.

How much will Amendment 3 save me on property taxes?

Florida TaxWatch estimates average statewide savings of about $1,035 in 2027 and $2,085 in 2028 for homesteaded homeowners. In Miami-Dade, savings could reach ~$1,500 a year. Savings vary by county tax rates and home value, and apply only to non-school taxes.

Does Amendment 3 affect school property taxes?

No. School taxes are unaffected — the school-district homestead exemption stays at $25,000. Amendment 3 only changes the exemption for property taxes funding county, city, and other non-school services.

Do renters benefit from Amendment 3?

Indirectly. The 5% cap on non-homestead assessment growth limits how fast landlords' tax bills can rise, which could slow rent increases at the margin. Renters don't get the homestead exemption, which requires owner occupancy.

I just moved to Florida — do I get the full benefit?

Only if you become a permanent Florida resident by December 31, 2026. Later arrivals must wait five years before receiving the larger phased-in exemption.

When does Amendment 3 take effect if it passes?

January 1, 2027. The $150,000 homestead exemption would apply to the 2027 tax year, rising to $250,000 in 2028 (inflation-adjusted from 2029).

Will Amendment 3 raise home prices?

Possibly, at the margin. Tax relief tends to capitalize into property values — Realtor.com economists estimate full property-tax elimination would lift Florida home values 7–9%. Amendment 3 is smaller than that, but some upward price effect on owner-occupied homes is likely, which benefits existing owners while making entry harder for first-time buyers.

What happens if Amendment 3 fails?

Nothing changes: the current homestead exemption structure and 10% non-homestead cap remain. Expect the property-tax debate to continue — Gov. DeSantis has said he wanted a bolder measure that included school taxes.

 

📌 Bottom line on Amendment 3

• It needs 60% on Nov 3, 2026 to pass. The newest UNF poll (Oct 12–19) has it at 50% yes / 30% no / 14% undecided — short of the threshold today.
• If it passes, the homestead exemption rises to $150K in 2027 and $250K in 2028 (inflation-adjusted from 2029).
• To receive the full phased benefit, you must be a permanent Florida resident by Dec 31, 2026.