Amendment 3 - What Does It Mean?

 

Florida Amendment 3: What You Should Know Before Voting in November

As your Realtor, I want to help you understand decisions that could affect your home and your budget. This November, Florida voters will consider Amendment 3, a proposal that would change parts of the property tax system. It offers potential savings for eligible homeowners while raising questions about how our communities would fund local services.

The proposal will appear on the November 3, 2026 ballot and requires at least 60% approval. If approved, the first changes would begin in 2027. It would not change your 2026 property tax bill.

What Would Change for Your Primary Residence?

For eligible homeowners with a Homestead Exemption who are permanent Florida residents by December 31, 2026, the exemption for non-school property taxes would increase to $150,000 in 2027 and $250,000 in 2028, with inflation adjustments beginning in 2029.

An exemption reduces the property value used to calculate taxes. It is not a cash payment, and it would not automatically eliminate your entire tax bill. School taxes would continue with their existing $25,000 exemption. Save Our Homes protections and portability would remain in place.

Your savings would depend on your property’s assessed value, existing exemptions, and local tax rates. People who become Florida residents on or after January 1, 2027 would initially receive a smaller exemption and become eligible for the expanded exemption in their fifth year of Homestead, after maintaining it for four years.

What Would It Mean for Investors?

Rental properties, second homes, and other properties without Homestead would not receive the expanded exemption. However, the annual cap on assessed-value increases for non-school taxes would decrease from 10% to 5%.

This could slow future assessment increases, but it does not mean the property tax bill could only increase by 5%. Tax rates and other charges can also affect the amount owed.

Why Are Counties and Renters Concerned?

Property taxes help fund public safety, emergency services, infrastructure, parks, and libraries. The proposal does not guarantee a new state funding source to replace lost local revenue. Some counties warn they might need to adjust services, increase certain charges, or find other revenue sources.

Renters would not directly receive the Homestead Exemption, and lower rent would not be guaranteed. They could also experience changes in local services and costs. These are potential consequences—not automatic outcomes—and would vary by county.

What Does Voting “Yes” or “No” Mean?

Voting yes means approving these constitutional changes. Voting no means rejecting this proposal and keeping the current rules regarding these provisions. Before deciding, consider both the potential savings for your household and the funding of services your community relies on.

My goal is to give you clear information so you can make your own informed decision. If you have questions about Amendment 3 or how it could relate to your property, call me or message me by text or WhatsApp at 321.240.3153, or email rafamyrealtor@gmail.com. 

I’m Rafa My Realtor, and I’m here to help you understand your options.