Amendment 3 and What It Means for Your Property Taxes

Today, a Florida homestead receives roughly $51,000 in exemptions. The first $25,000 applies to all property taxes, including school taxes, and a second portion of about $26,000 applies to everything else. Under Amendment 3, the exemption on non school taxes would rise to $150,000 beginning January 1, 2027, and to $250,000 in 2028, with annual cost of living adjustments after that. School taxes would not change. Only the first $25,000 would remain exempt from those.

Consider a homestead with an assessed value of $600,000. Today, about $549,000 of that value is taxed by the county, the city, and other local districts. In 2028, under the amendment, that figure would fall to $350,000. That is a reduction of roughly 36% in the portion of the bill that does not go to schools. The school portion would stay exactly where it is.

For homes without a homestead exemption, including second homes and rental properties, the change looks different. The annual cap on assessment increases would drop from 10% to 5%, but only for non school taxes. School taxes on those properties would remain uncapped. Independent analysts, including the Tax Foundation, note that when homestead owners pay less, part of that burden can shift toward second homeowners, commercial property, and newer residents. If you own more than one property here, that is worth understanding before you vote.

Now the detail most people have not noticed. The larger exemption is not available to everyone right away. Owners who become Florida residents in 2027 or later would start with a $50,000 exemption on non school taxes and would not reach the full amount until their fifth year. Homeowners who are already permanent residents by the end of 2026 would qualify from the start.

For anyone planning a move to Southwest Florida, that makes the calendar more important than usual. A buyer who closes and establishes residency in December may be treated very differently from one who arrives in January. For sellers, it is a conversation worth being ready for, because many of the buyers touring homes this winter will be asking exactly this question.

Some things would not change at all. Portability stays in place, so if you have been counting on carrying your Save Our Homes benefit to your next Florida home, that remains available. Existing exemptions for seniors, surviving spouses, veterans, and people with disabilities also stay as they are.

There are 2 sides to this, and both deserve a fair hearing. Supporters see meaningful relief for full time residents who have watched their property tax bills rise sharply over the past decade. Opponents, including Florida TaxWatch and a number of city and county officials, point to billions of dollars in annual revenue that would need to be replaced, and ask how fire, EMS, and law enforcement would be funded. Reasonable people land in different places.

The amendment needs at least 60% of voters to pass. If it does, the changes would first appear on August 2027 TRIM notices and November 2027 tax bills. Election Day is November 3, and mail ballots begin going out October 1.

This is not a recommendation on how to vote. That decision is yours. My goal is simply that you walk into November knowing exactly how this touches your own property. If you would like to see what the numbers could look like for your home, or how the timing might affect a purchase or sale you are considering, I am always glad to sit down and walk through it with you.