Florida Amendment 3: What the Homestead Exemption Change Means for Homeowners

On November 3, Florida voters will decide Amendment 3, a property tax measure that would raise the homestead exemption for the first time in years. People have been asking me about it, so here is what it does, who it helps, and what to watch if you plan to buy or sell.

What changes

The homestead exemption comes off your home's assessed value before the tax rate is applied. A bigger exemption means a smaller taxable value and a smaller bill. Amendment 3 makes the exemption larger for county, city and other non-school taxes.

Two other pieces come with it. The yearly cap on how much the assessed value of a non-homestead property can rise (rentals, second homes, commercial) drops from 10% to 5% for non-school taxes. And the Legislature must set a statewide process that lets counties and cities raise the exemption further, up to the full assessed value. Special districts could do the same with a local vote.

When you would see it

The amendment takes effect January 1, 2027. Most owners would first see it on the August 2027 TRIM notice and then on the November 2027 tax bill. Until then, current law applies.

What a bigger exemption is worth

Your savings equal the added exemption times your non-school millage rate. As an illustration only, if your non-school millage were 15 mills, each extra $100,000 of exempt value would lower your yearly bill by about $1,500 ($100,000 × 0.015). Your real number depends on your assessed value, your local millage rates and any exemptions you already have. Property appraisers say they cannot give exact figures until the implementing laws are final.

If you are moving to Florida

People who are not Florida residents on December 31, 2026 get the existing homestead exemption, and the larger amounts start with the fifth year of exemption. The Manatee County Property Appraiser describes it as a $50,000 non-school exemption at the start, with eligibility for the larger amounts after four years of homestead, first applying on January 1 of the fifth year.

Homestead itself is not changing. It applies to a home you own and live in as your permanent residence on January 1. A closing after January 1 means your first exemption year is the following year, so timing matters.

What stays the same

According to the Manatee County Property Appraiser, Save Our Homes (the 3% or inflation cap on homestead assessment growth), portability, and the existing senior, veteran, widow and disability exemptions are not changed by this amendment.

The debate

Supporters, including State Sen. Bryan Avila, say the amendment gives families relief while protecting funding for essential services. Critics, including the Florida Policy Institute, say it shifts costs, because local governments would have to cut services or raise other taxes and fees. Legislative staff estimate local governments would collect about $4.6 billion less in fiscal year 2027-28 and $8.4 billion less in 2028-29.

If you are buying or selling

Nobody can tell you what Amendment 3 does to home prices, and I will not guess. What I can say after 20 years of closings here is that the monthly payment drives most buying decisions, and property tax is part of that payment. If the amendment passes, the tax estimate on a listing could look different in 2027 than it does today. Ask your lender to run payments both ways.

If you are planning a move, talk to me about timing around January 1, because it decides which year your homestead starts.

Quick answers

Sources

• Florida Phoenix, 2026 Amendment 3 voter guide
• Ballotpedia News, Florida voters to decide expanded homestead tax exemption amendment
• Manatee County Property Appraiser, Proposed 2026 Florida Property Tax Amendment FAQ
• Florida Department of State, initiative details

Facts checked October 16, 2026. This is general information, not tax or legal advice. For your own numbers, check with your county property appraiser or a tax professional.