Florida voters have approved Amendment 3, delivering one of the most significant changes to the state’s property tax system in decades. The constitutional amendment will substantially increase the homestead property tax exemption for qualifying homeowners, potentially reducing annual housing costs for millions of Floridians.
The measure passed in Tuesday’s November 3 general election with approximately 62% voter approval, clearing Florida’s required 60% threshold for constitutional amendments.
AMENDMENT 3 — UNOFFICIAL STATEWIDE RESULTS
YES — APPROVED
61.99%
4,917,482 votes
NO — REJECTED
38.01%
3,015,840 votes
Source: Florida Division of Elections, unofficial results as of November 4, 2026. Florida Election Watch
For existing Florida homeowners, the vote represents a major opportunity to lower property taxes at a time when insurance premiums, maintenance expenses and other homeownership costs remain important affordability concerns.
However, for individuals and families planning to relocate to Florida, the amendment introduces a critical distinction: New residents will generally face a five-year waiting period before qualifying for the expanded homestead exemption.
What Amendment 3 Changes for Florida Homeowners
Amendment 3 increases the portion of a qualifying primary residence’s assessed value that is exempt from property taxes levied by counties, municipalities and other eligible taxing authorities, excluding school district taxes.
The exemption will expand in phases beginning January 1, 2027.
Tax year | Expanded homestead exemption |
Before 2027 | $50,000 |
2027 | $150,000 |
2028 | $250,000 |
2029 and beyond | Inflation adjustments |
The increased exemption applies to nonschool property taxes. Taxes supporting public schools will continue to be calculated under the existing exemption structure.
The amendment also lowers the annual assessment increase cap on qualifying non-homestead properties, including rental homes, second homes and commercial real estate, from 10% to 5% for nonschool taxes. CBS Miami +1
How Much Could Florida Homeowners Save?
The financial impact will vary considerably depending on a home’s assessed value, existing exemptions, local millage rates and the homeowner’s eligibility.
For example, consider an established Florida homeowner with a property assessed at $400,000.
Under the previous system, the standard nonschool homestead exemption generally sheltered $50,000 of assessed value, leaving $350,000 subject to those taxes.
Beginning in 2028, the expanded $250,000 exemption could reduce the taxable value for those same nonschool taxes to $150,000.
That represents a potential $200,000 reduction in taxable assessed value.
What Florida Homebuyers and Relocators Should Do Next
For individuals considering a move to Florida in 2027 or beyond, Amendment 3 makes understanding property tax eligibility even more important.
Prospective buyers should request a personalized property tax estimate from the county property appraiser rather than relying on the seller’s current tax bill.
They should also verify their eligibility for Florida’s homestead exemption, understand the five-year waiting provision and evaluate their complete cost of homeownership.
Homeowners who already qualify for Florida’s homestead exemption should monitor information from their county property appraiser about implementation of the new exemption amounts.
Because property taxes vary across Florida’s 67 counties and numerous municipalities, the financial impact will not be uniform statewide.
A Major Tax Victory With Different Outcomes for Existing and New Residents
Florida voters have delivered a clear message in favor of reducing property taxes for homeowners.
With nearly 62% support, Amendment 3 marks a significant shift in the state’s approach to residential property taxation.
For established Florida homeowners, the expanded exemption could substantially lower future property tax obligations.
For newcomers, the five-year waiting requirement means the immediate financial benefits may be more limited.
And for local governments, the coming years will bring difficult decisions about balancing tax relief with the cost of providing essential services.
As Florida continues attracting retirees, working professionals, families and businesses from across the country, Amendment 3 will become another important factor in evaluating the financial advantages and responsibilities of living in the Sunshine State.
For those planning a move, understanding the new property tax rules before purchasing a home could make a significant difference in long-term housing affordability.