Florida’s 2026 Property Tax Amendment Proposal: What Homeowners Need to Know

Florida voters will be asked to decide on a major property tax amendment in the November 3, 2026 general election. The measure, known as Amendment 3 and titled “Save Our Homes from Excessive Property Taxes,” would make significant changes to Florida’s homestead exemption, non-homestead assessment caps, and how local governments may use certain property tax revenue. The amendment is on the ballot and would need at least 60% voter approval to become part of the Florida Constitution.

What Will Florida Voters be Voting On?

At the center of the proposal is an expanded homestead exemption for Florida homeowners who use their property as their primary residence. Under current law, Florida homestead owners generally receive a $25,000 exemption that applies to all property taxes, including school taxes, plus an additional exemption for non-school taxes. In Palm Beach County, the Property Appraiser explains that the additional exemption is applied automatically for those who qualify and does not apply to school district taxes.

If Amendment 3 passes, the exemption for non-school property taxes would increase sharply. Beginning January 1, 2027, qualifying homestead properties would receive an exemption of up to $150,000 of assessed value for non-school taxes. Beginning January 1, 2028, that amount would increase to $250,000. The larger exemption would then be adjusted for inflation beginning in 2029. School district taxes would not receive the same expanded exemption, meaning homeowners would still pay school related property taxes.

What This Means for Florida Homeowners Who Claim Primary Residence: 

For homeowners who already claim Florida as their primary residence, this could lower the non-school portion of their property tax bill. The actual savings would vary based on the home’s assessed value, the local millage rate, the county, the city, special districts, and any non-ad valorem assessments. In simple terms, this would not erase every property related charge on a tax bill, but it could reduce the portion tied to county, municipal, and certain special district ad valorem taxes.

The proposal also treats newer Florida residents differently. A person who did not maintain a permanent residence in Florida as of December 31, 2026 would initially receive a smaller non-school exemption of $50,000. Beginning with the fifth year of exemption, that homeowner would become eligible for the larger exemption amount, subject to the rules set by law.

This distinction matters for relocation buyers. A buyer moving to Florida after the cutoff date may not receive the full benefit right away, even if they buy a primary residence and qualify for homestead.

The amendment would also affect homeowners who do not claim homestead, along with rental properties, second homes, vacation homes, commercial properties, and other non-homestead real estate. These properties would not receive the expanded homestead exemption, but the amendment would reduce the annual cap on assessment increases for certain non-homestead property from 10% to 5% for non-school taxes beginning January 1, 2027.

That means owners of non-homestead property could see more protection from fast-growing assessed values, though the cap does not mean taxes cannot rise at all. Millage rates, reassessments after a sale, improvements, and other tax rules would still matter.

The Impact on Buyers:

Supporters of the amendment argue that rising property values have increased local tax collections and that primary residence homeowners need relief from higher carrying costs. Critics argue that reducing local revenue could lead to service cuts, higher fees, or pressure to find revenue elsewhere. The amendment also limits how counties and municipalities may use remaining ad valorem revenue, including uses tied to public safety, education, infrastructure, natural resources, flood control, local bonds, retirement benefits, and local government operations.

For the Florida housing market, the proposal could change the way buyers think about ownership costs. Primary residence buyers may place more value on homestead status. Longtime Florida homeowners may see a stronger benefit than newcomers. Investors and second home owners would not receive the larger homestead exemption, but they may benefit from the lower non-homestead assessment cap.

Main Takeaways:

The biggest takeaway is that Amendment 3 is not a full repeal of all property taxes. It is a proposed expansion of the homestead exemption for non-school taxes, paired with other property tax changes. Homeowners would still need to account for school taxes, special assessments, insurance, HOA fees, maintenance, and other ownership costs.

For Florida homeowners, especially those using their property as a primary residence, this amendment could meaningfully reduce part of the annual tax burden. For local governments, it could require major budget adjustments. For buyers, sellers, and real estate investors, it is worth watching closely because property taxes are a key part of the cost of owning real estate in Florida.