Amendment 3: What Florida Homeowners Need to Know

Florida homeowners will have an important opportunity in November 2026 to vote on Amendment 3, a proposed amendment to the Florida Constitution designed to provide additional property-tax relief. If approved by the required supermajority of voters, the amendment would make significant changes to Florida’s homestead exemption and the way certain property taxes are calculated.

A Larger Homestead Exemption

For Florida homeowners, the most significant change is an increase in the homestead exemption for taxes imposed by counties and municipalities, other than school district taxes. Under current law, qualifying homeowners generally receive a homestead exemption that can reduce taxable value by up to $50,000. Amendment 3 would increase the exemption from $50,000 to $150,000 beginning in 2027 and $250,000 beginning in 2028, with the $250,000 amount thereafter adjusted annually for inflation.

The practical benefit is straightforward: A larger portion of a homeowner’s homestead would be protected from certain property taxes. For homeowners who qualify for the exemption, this could mean meaningful annual savings, particularly as property values and local tax burdens continue to rise.

Provisions for New Florida Residents

The amendment would also address homeowners who move to Florida after 2026. Individuals who are not Florida residents as of December 31, 2026, would initially receive the existing homestead exemption when they qualify. The increased exemption would become available beginning with the homeowner’s fifth year of receiving the exemption, to the extent permitted by the U.S. Constitution.

Another important provision would reduce the annual assessment increase cap for certain non-homesteaded properties from 10% to 5%. Although this provision does not directly change the homestead exemption, it could provide additional protection against sharp increases in assessed values for qualifying properties.

Amendment 3 would also require counties and municipalities to use property-tax revenues for specified governmental purposes, including public safety, education and schools, infrastructure, natural resources, bond debt service, employee retirement benefits, and governmental operations and administration.

What the Amendment Could Mean for Homeowners

For Florida homeowners, the amendment represents a potentially substantial expansion of constitutional property-tax protections. However, the actual amount saved will vary depending on the property’s assessed value, local tax rates, exemptions, and whether the property qualifies as a homestead.

A Decision for Florida Voters

Florida homeowners should therefore pay close attention to Amendment 3 when they vote in November. While no constitutional amendment can eliminate every property-tax obligation, Amendment 3 could provide homeowners with greater protection against rising tax burdens and preserve more of their household income for the costs of owning a home.