Florida Amendment 3 Explained: What the New Homestead Exemption Means for Homeowners and Buyers (2027–2028)
Published on Nov 06, 2026 | Homeowners
By Samantha Jade, Licensed Mortgage Loan Originator (NMLS #598941), Universal Mortgage, Broward County, FL · Updated November 4, 2026
Florida Amendment 3 passed on November 3, 2026 with about 62% of the vote. It raises the homestead exemption for non-school property taxes to $150,000 in 2027 and $250,000 in 2028. School taxes do not change. Most homeowners will first see the savings on their November 2027 property tax bill.
Here is what changes, who qualifies, how much you could save, and how it affects your mortgage payment.
Key takeaways
- The homestead exemption for county, city and special-district taxes rises from about $51,411 today to $150,000 on January 1, 2027 and $250,000 on January 1, 2028. It adjusts for inflation starting in 2029.
- The school-tax exemption stays at $25,000, so homeowners still receive a property tax bill.
- Floridians who are residents by December 31, 2026 get the full exemption. People who move to Florida on or after January 1, 2027 get $50,000 for their first four years, then the full amount from year five.
- Annual assessment increases on rentals, second homes and commercial property drop from 10% to 5% for non-school taxes.
- Save Our Homes (the 3% cap) and portability (up to $500,000) stay in place.
What is Florida Amendment 3?
Florida Amendment 3 is a 2026 change to the Florida Constitution that expands the homestead property tax exemption, lowers the cap on assessment increases for non-homestead property, and limits how counties and cities can spend property tax revenue. The Legislature placed it on the ballot as CS/HJR 1F, and it takes effect January 1, 2027.
How much is the new Florida homestead exemption?
The new homestead exemption shields $150,000 of a home's assessed value from non-school property taxes in 2027 and $250,000 in 2028. After 2028, the $250,000 amount rises with inflation each year.
| 2026 (before) | 2027 | 2028 | |
|---|---|---|---|
| School-tax exemption | $25,000 | $25,000 | $25,000 |
| Non-school exemption (county, city, special districts) | about $51,411 | $150,000 | $250,000 |
"Non-school" taxes are everything on your bill except the school district's share. School taxes make up roughly 40% of a typical Florida bill, which is why homeowners will still pay property taxes.
Does Amendment 3 eliminate property taxes in Florida?
No. Amendment 3 does not eliminate property taxes on its own. It directs the Legislature to create a process that lets counties and cities raise the exemption further, up to a home's full value, for their own taxes. Each local government decides whether to use it.
How much will I save with Amendment 3?
Savings depend on your local tax rates and your home's assessed value. One widely reported estimate puts typical 2027 savings for eligible homeowners around $1,300. In 2028 the extra exempt value roughly doubles, so savings grow too.
To estimate your own savings, multiply the extra exempt value by your non-school millage rate (dollars per $1,000 of value), found on your TRIM notice.
| Tax year | Extra value exempt vs. 2026 | Estimated savings at 15 mills (example) |
|---|---|---|
| 2027 | about $98,600 | about $1,480 |
| 2028 | about $198,600 | about $2,980 |
The 15-mill rate is an example only. Your savings are capped by your home's assessed value: if it is below $150,000 in 2027 or $250,000 in 2028, all of your non-school taxes are exempt and you pay only school taxes.
Could my local government raise taxes to make up the difference?
Possibly. Amendment 3 includes no state money to replace lost local revenue, estimated at nearly $12 billion a year statewide. Some counties and cities may raise millage rates within legal limits, fees or special assessments, so your net savings will depend on local decisions.
Who qualifies for the new homestead exemption?
You qualify for the full Amendment 3 exemption if you own and live in your Florida home as your permanent residence and you were a Florida resident by December 31, 2026. People who move to Florida on or after January 1, 2027 get a smaller exemption for their first four years.
| Your situation | School-tax exemption | Non-school exemption |
|---|---|---|
| Florida resident by Dec 31, 2026 (owner or renter) | $25,000 | $150,000 (2027), $250,000 (2028+), plus inflation |
| New to Florida on or after Jan 1, 2027 | $25,000 | $50,000 for years 1–4, then the full amount from year 5 |
I rent in Florida now. Can I still get the full exemption when I buy?
Yes, based on the amendment and county property appraiser guidance. If your permanent residence was in Florida by December 31, 2026, you should qualify for the full exemption whenever you buy and file for homestead. Keep proof of residency, such as your lease, Florida driver's license, voter registration and utility bills. The Legislature will set the exact proof rules.
I'm moving to Florida in 2027. What do I get?
You can still claim homestead. For your first four years of exemption, you get $50,000 off non-school taxes (adjusted for inflation). From year five you get the full amount. Starting in 2030, a county or city can vote by a two-thirds majority to shorten the wait for a critical local need. The new-resident rule may also face legal challenges.
Do condos and townhomes qualify?
Yes. Homestead applies to any home you own and live in as your permanent residence, including condos, townhomes and co-ops.
Do I need to reapply if I already have homestead?
No. If you already have a homestead exemption, the larger amount should apply automatically. If you own and live in your home but never filed, apply with your county property appraiser, usually by March 1.
How does Amendment 3 affect rentals, second homes and investment property?
Amendment 3 caps yearly assessment increases on non-homestead property at 5% for non-school taxes, down from 10%, starting January 1, 2027. Rentals, second homes and commercial property do not get the larger homestead exemption.
- Resets on sale: For homes and small rentals with nine units or fewer, the assessed value resets to market value after a change of ownership or control, including a sale of the LLC that owns it. The 5% cap applies from the new value.
- Larger and commercial property: The Legislature must reset the value to market after a "qualifying improvement" (to be defined by law) and may reset it after a change of ownership.
- School taxes: The 5% cap does not apply to school district taxes.
Will Amendment 3 raise rents?
It could add pressure. If local governments shift more of the tax burden to non-homestead property, owners may pass some of it to tenants. Florida renters who were residents by December 31, 2026 keep their full exemption eligibility if they buy later.
How does Amendment 3 affect my mortgage payment?
If your property taxes are paid through escrow, your monthly mortgage payment should drop after your servicer pays the November 2027 tax bill and runs your next escrow analysis. For most homeowners, that means a lower payment or an escrow refund in late 2027 or 2028, not right away.
Can I ask my servicer to lower my payment now?
Usually not. Servicers base escrow on the actual tax bill, and 2026 tax bills are unchanged.
Will lower property taxes help me qualify for a bigger loan?
They can. Property taxes are part of the monthly housing payment lenders use to calculate your debt-to-income ratio, so a lower tax estimate can increase your buying power. Homeowners insurance and HOA dues still count in full.
How will my lender estimate taxes on a 2027 purchase?
Lenders often start from the current tax bill or the purchase price times local millage. Ask your loan officer to estimate taxes using the exemption you will actually qualify for. If you are new to Florida, ask to see the four-year and year-five scenarios side by side.
When does Amendment 3 take effect? Key dates
Amendment 3 takes effect January 1, 2027. The savings first appear on August 2027 TRIM notices and November 2027 tax bills.
| Date | What happens |
|---|---|
| Nov 3, 2026 | Florida voters approve Amendment 3 |
| Dec 31, 2026 | Residency cutoff for the full exemption |
| Jan 1, 2027 | Takes effect: $150,000 non-school exemption; 5% non-homestead cap |
| Mar 1, 2027 | Usual deadline to file for homestead for 2027 |
| Aug 2027 | TRIM notices show the new exemption |
| Nov 2027 | First tax bills with the savings |
| Jan 1, 2028 | Exemption rises to $250,000 |
| Jan 1, 2029 | $250,000 amount begins yearly inflation adjustments |
| Jan 1, 2030 | Counties and cities may vote to shorten the 5-year wait for new residents |
Florida Amendment 3 FAQ
Did Florida Amendment 3 pass?
Yes. Florida voters approved Amendment 3 on November 3, 2026 with about 62% of the vote; it needed 60%.
What is the Florida homestead exemption in 2027?
In 2027, eligible homeowners get $25,000 off school taxes and $150,000 off all other property taxes. The non-school amount rises to $250,000 in 2028.
Does Amendment 3 affect school taxes?
No. The school-tax exemption stays at $25,000.
Does Save Our Homes still apply?
Yes. Your homestead's assessed value still can't rise more than 3% a year, or the inflation rate if lower.
Can I still transfer my Save Our Homes savings to a new home?
Yes. Portability is unchanged. You can move up to $500,000 of savings to a new Florida homestead within three years.
Do new Florida residents get the higher exemption?
Not right away. People who move to Florida on or after January 1, 2027 get $50,000 off non-school taxes for four years, then the full exemption from year five.
Does Amendment 3 apply to rental property?
Rentals don't get the homestead exemption, but their yearly assessment increases are capped at 5% for non-school taxes, down from 10%.
When will I see lower property taxes?
On your November 2027 tax bill. If you escrow, your mortgage payment adjusts at the escrow analysis after that bill is paid.
What can counties and cities spend property taxes on now?
Public safety, schools, infrastructure, flood control and natural resources, local bonds, employee retirement benefits, and government operations.
Talk to a local mortgage expert
Buying, refinancing or relocating in Broward or Miami-Dade? I can run your numbers with the new exemption you'll actually qualify for, so you know your real monthly payment before you make an offer. Call or text 305-439-8447 or email [email protected].
About the author: Samantha Jade is a licensed mortgage loan originator with Universal Mortgage, LLC, based in Pembroke Pines, Florida. She helps South Florida buyers and homeowners with purchase, refinance and alternative-income financing.
This article is general information, not tax or legal advice. Many details of Amendment 3 will be set by Florida law. Check your county property appraiser (Broward, Miami-Dade) for your exact numbers.
Samantha Jade, NMLS #598941 | Universal Mortgage, LLC, NMLS #1023016 | Equal Housing Opportunity
Sources
- NBC 6 Miami: Florida Amendment 3 results
- Bay News 9: Voters approve Amendment 3
- FOX 13: Amendment 3 property tax caps
- Volusia County Property Appraiser: Amendment 3
- Florida TaxWatch: Amendment 3 FAQ
- CS/HJR 1F (2026), enrolled text, Florida Legislature