Published November 4, 2026 · By Jennifer Susanne Sommers
The cost of the South Florida lifestyle is set to change. Florida voters backed Amendment 3 on November 3 with about 62% of the vote, above the 60% required to pass. The state's election results are still unofficial as of this publication.
For homeowners in Boca Raton, Delray Beach and Palm Beach, the changes could be meaningful. Here is what changes, what doesn't, and why the calendar matters if you are thinking about a move.
A larger homestead exemption
The homestead exemption on non-school property taxes rises from about $50,000 today to up to $150,000 in 2027 and up to $250,000 in 2028 for qualifying owners. Beginning in 2029, the expanded amount adjusts with positive inflation.
Year | Non-school homestead exemption |
|---|---|
2026 (current) | About $50,000, including existing inflation adjustments |
2027 | Up to $150,000 for qualifying owners |
2028 | Up to $250,000 for qualifying owners |
2029 and after | Expanded amount adjusted for positive inflation |
In practical terms, the exemption removes more of a qualifying home's assessed value from city, county and other non-school property taxes. It is a reduction in taxable value, not a dollar-for-dollar credit against the bill. See the property appraiser's overview.
What it does not do
School taxes are not part of the larger exemption. The school-tax homestead exemption remains up to $25,000. Non-ad valorem charges, such as certain service and district assessments, also remain separate.
Your total bill is not guaranteed to fall. It still depends on your assessment, exemptions, millage rates and other charges. Your 2026 tax bill does not change. The Hillsborough County Tax Collector explains what stays the same.
Second homes and investment properties
Amendment 3 reaches beyond primary residences. For covered non-homestead properties, including seasonal residences, rentals and commercial buildings, the cap on annual assessed-value increases drops from 10% to 5% for non-school levies.
That is an assessment cap, not a 5% cap on your tax bill or a new homestead exemption for second homes. Ownership changes and other exceptions can affect assessments, so buyers should not assume the seller's tax bill will carry over.
Why timing matters now
December 31, 2026 is an important residency date. The amendment distinguishes people who had established permanent Florida residence by then from those who had not. Signing a contract or closing on a home alone does not establish eligibility.
Qualifying owners who had not maintained permanent Florida residence as of that date generally receive the smaller non-school exemption initially, with the expanded exemption beginning in their fifth year of exemption. The residency distinction is subject to constitutional requirements and implementation. Ask your county property appraiser how it applies to you. Read the enrolled amendment.
The changes take effect January 1, 2027, with the first affected tax bills arriving in November 2027. If you have been splitting time between South Florida and the Northeast, or considering making Boca your full-time address, this season deserves a closer look. Confirm the rules before making a purchase or residency decision.
The other side of the ledger
Larger exemptions also mean less property-tax revenue for local governments. Orange County projects a reduction of about $165 million in 2027 and $275 million in 2028. Those are that county's estimates, not a forecast for Palm Beach County. See Orange County's estimates and explanation.
It is worth watching how your city and county budgets respond. Local rates and fees, subject to applicable rules, will still matter to your final ownership costs.
Let's talk about your next move
Whether you are buying your first full-time Florida home, reconsidering a seasonal residence, or simply wondering what Amendment 3 means for your home search, I'm happy to talk through your real-estate plans and help you identify the questions to take to your tax professional. Private inquiries are always welcome.
Jennifer Susanne Sommers
Global Real Estate Advisor | Sotheby's International Realty
561-888-3115 | [email protected]
@agentboca561
This article is for general information only and is not tax or legal advice. Election returns remain unofficial at publication. Eligibility and implementation depend on Florida requirements; consult your county property appraiser or a tax professional.
Connect