Amendment 3: Property Tax Changes on the November Ballot

The Florida Legislature has proposed a constitutional amendment that would make several changes to Florida's property tax system, including increasing the homestead exemption for qualifying properties, reducing the assessment limitation for non-homestead properties, and establishing additional residency-related provisions for certain homestead benefits. The amendment will appear on the November 3, 2026, General Election ballot.

Florida voters will consider the amendment during the November 3, 2026 General Election. Like all Florida constitutional amendments, it requires approval from at least 60% of voters to pass.

If approved by voters, the amendment would take effect January 1, 2027, and would first be reflected on tax bills issued in November 2027.

Not easily. Because this change would be written into the Florida Constitution, undoing it would take another constitutional amendment of its own, one that would again need to be approved by at least 60% of voters statewide before it could take effect.

The amendment proposes replacing the current homestead exemption structure for qualifying homestead property with a $25,000 exemption applied to school millages, up to $150,000 applied to non-school millages beginning January 1, 2027, up to $250,000 applied to non-school millages beginning January 1, 2028, and annual CPI adjustments to the maximum exemption amount beginning January 1, 2029. Property owners who are permanent Florida residents as of December 31, 2026, would be eligible for the larger exemption amounts beginning in 2027, subject to the requirements of the Florida Constitution.

The amendment establishes a different exemption structure for individuals who become Florida residents on or after January 1, 2027. Under the proposal, these individuals would begin with the exemption amount established for new Florida residents ($50,000, adjusted annually by CPI beginning in 2028). After maintaining a Florida homestead exemption for four years, the property owner would become eligible for the larger homestead exemption beginning January 1 of the fifth year. Additional administrative procedures may be established through implementing legislation.

No. Only the first $25,000 of assessed value of a homestead property would remain exempt from school taxes, consistent with current law. Most property owners would continue to receive a tax bill that includes school taxes.

The amendment does not eliminate or replace Save Our Homes. Annual assessment increases for qualifying homestead property would continue to be limited to 3% or CPI, whichever is less, as provided by law.

No to both. The amendment does not change Florida's portability provisions, and it does not change existing personal exemptions such as those for widows/widowers, seniors, veterans, or persons with disabilities.

The amendment requires the Legislature to set up a uniform process allowing counties and municipalities to increase the homestead exemption further for their own respective levies, up to the full assessed value of the property. Special districts could do the same, but only with approval from their voters in a referendum.

A non-homestead property is any property that does not receive a homestead exemption. Examples include rental property, commercial property, second homes, and vacant land.

The amendment proposes reducing the annual assessment limitation from 10% to 5%. A lower assessment limitation may slow future assessed value growth for qualifying non-homestead property. This limitation only impacts non-school millages; school taxes would still be uncapped and based on Just/Market Value.

No, property taxes would continue to be levied by local governments, school districts, and other taxing authorities, and school district taxes would continue.

Per the ballot language, counties and municipalities would be required to use property tax revenue solely for public safety, education and schools, infrastructure, natural resources, bond debt service, retirement benefits for employees, and operations and administration. Spending outside those categories could still be approved by county officers or the county or municipal governing body, unless state law prohibits it.

No. The amendment does not guarantee any specific funding level for law enforcement, fire protection, EMS, or other governmental services. Funding decisions would continue to be made through the annual budget processes of the applicable taxing authorities.

Yes. Taxing authorities establish millage rates annually through the budget process. Future millage rates are determined by those taxing authorities in accordance with Florida law.

Most of the county's budget isn't one interchangeable pool of money. A large share of total county revenue, including money from utility bills, solid waste fees, tourist development taxes, impact fees, gas taxes, and grant funding, is legally dedicated to a specific purpose and can only be spent that way. Those restricted dollars generally cannot be redirected to cover a shortfall in the county's General Fund, which is the part of the budget most affected by changes to property tax revenue.