Property taxes are one of the biggest questions I hear from buyers and homeowners, and this year they're on the ballot. Florida Amendment 3 goes before voters on Tuesday, November 3, 2026. I don't tell anyone how to vote. My goal here is simply to explain, in plain English, what the amendment would and wouldn't change so you can make your own decision.
The Basics
Vote needed: Constitutional amendments in Florida need at least 60% of voters to pass.
If approved: Changes would take effect January 1, 2027. Homeowners would first see the effect on tax bills in late 2027.
If rejected: Current property tax rules stay in place.
What a Yes Vote Would Change
For homestead (primary residence) owners
Today, most homesteads get up to about $50,000 in exemptions: $25,000 that applies to all taxes, including school taxes, plus an additional amount for non-school taxes.
Under Amendment 3, the exemption for non-school taxes would rise to up to $150,000 in 2027 and up to $250,000 in 2028, with inflation adjustments after that.
The $25,000 exemption from school taxes would stay the same, so most homeowners would still pay school taxes.
Homeowners who become Florida residents on or after January 1, 2027, would start with a smaller exemption and become eligible for the larger amount after four years of holding a homestead exemption.
The Legislature could allow further increases later without another statewide vote.
For non-homestead property (second homes, rentals, commercial)
The annual cap on assessment increases would drop from 10% to 5% for non-school taxes. School taxes would remain uncapped.
A cap on assessed value growth is not the same as a cap on your tax bill, which still depends on local millage rates.
Local government budgets
The amendment would also limit how local governments can spend property tax revenue to specified categories, unless local governing bodies approve other uses. State economists have estimated a significant reduction in local revenue over time.
What Would Not Change
Save Our Homes, which limits annual increases in a homestead's assessed value
Portability of Save Our Homes benefits
Existing exemptions for seniors, veterans, widows and widowers and people with disabilities
What Supporters and Opponents Say
Supporters, including the governor and other state leaders, argue it would deliver meaningful tax relief to homeowners and push local governments to trim spending.
Opponents, including law enforcement, firefighter and local government associations and some policy groups, argue that smaller local budgets could affect public safety and other services, and some have criticized how quickly the measure reached the ballot.
What It Could Mean If You're Buying or Selling
If Amendment 3 passes, timing of residency and homestead could matter more than usual, especially for buyers who plan to make South Florida their permanent home. If it fails, today's rules continue. Either way, your actual savings or costs depend on your property, local millage rates and future legislation, so talk with a tax professional about your specific situation.
This post is for general information only and is not tax or legal advice. Sources: Pinellas County Property Appraiser Amendment 3 FAQ and published voter guides. For official ballot information, visit your county Supervisor of Elections.
Questions about how property taxes factor into a purchase or sale? Call or text me at 561-888-3115.
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