Passed November 3, 2026 · Takes effect January 1, 2027

Florida Amendment 3 passed. Here is what it means for your property taxes.

The homestead exemption for non-school property taxes rises to $150,000 in 2027 and $250,000 in 2028. Investors get a tighter 5% cap. School taxes stay the same. Below: the plain-English version, a savings calculator for every Florida county, and the investor math.

Calculate my savings Investor math

What changed

Amendment 3 amends the Florida Constitution to raise the homestead exemption that applies to county, city and other non-school property taxes. It does not touch the school portion of your bill.

$150,000Non-school homestead exemption starting with the 2027 tax year
$250,000Starting with the 2028 tax year, then adjusted for inflation each year from 2029
  • School taxes are unchanged. The $25,000 school-tax exemption stays exactly where it is.
  • Investors get a different benefit. The annual cap on assessment increases for non-homestead property drops from 10% to 5%. See the investor math.
  • Only the increase is new money. Today's non-school exemption is roughly $50,000, so the new exempt amount is about $100,000 in 2027 and $200,000 in 2028.

Calculate your Amendment 3 savings

Pick your Florida county, enter your home's assessed value, and see the estimated non-school property tax savings for 2027 and 2028.

Rate shown is the county-wide average non-school millage. Inside city limits it is usually a few mills higher.
$
Use the assessed value from your TRIM notice or property appraiser record, not the purchase price, if you have it.
Your savings are the increase over the roughly $50,000 non-school exemption you already receive.
Find your exact non-school millage on your TRIM notice: add every line except the school board lines.
2027 · exemption to $150,000
$0
$0 per month
2028 and after · exemption to $250,000
$0
$0 per month
First 5 years (2027–2031), before inflation indexing$0
See your full payment in our mortgage calculator

Estimates only. Figures assume county-wide average 2024 non-school millage from Florida TaxWatch (2025 How Florida Counties Compare) with the school portion estimated from per-capita school levies; your city, special districts, assessed value and future millage changes will move the result. School taxes are not affected by Amendment 3. Current non-school homestead exemption rounded to $50,000 (2026 actual: $51,411). You must hold a permanent Florida homestead as of December 31, 2026 for the full increase in 2027. Not tax or legal advice; confirm with your county property appraiser. TAG Lending Group, LLC · NMLS #2329372 · Equal Housing Lender.

Who qualifies

Dec 31,
2026

You must be a permanent Florida resident with homestead by this date to receive the full increase starting in 2027. Establish residency after that and the larger exemption begins in your fifth year of homestead. Second homes, rentals and investment property do not get a homestead exemption; they get the 5% assessment cap instead.

What this means if you are buying

  • A lower non-school tax bill means a lower escrow payment, which can improve your debt-to-income ratio on the same income.
  • Buyers who close and file for homestead before December 31, 2026 lock in the full benefit from day one.

For investors: the 10% to 5% cap

Rentals, second homes and commercial property get no homestead exemption. What changes is how fast their assessed value can rise for non-school taxes.

10%→5%
Starts January 1, 2027Annual cap on assessed value, non-school taxes
First tax bills: November 2027
Resets on saleBuyer starts at market value
School taxesStill on full market value
Homestead exemptionNot available

A $500K rental in Miami-Dade

Market value rising 8% a year, 11.74 average non-school mills.

YearAssessed at 10% capAssessed at 5% capTax saved / yr
2027$540,000$525,000$176
2028$583,200$551,250$375
2029$629,856$578,812$599
2030$680,244$607,753$851
2031$734,664$638,141$1,133
5-year total$3,135

The gap widens every year the market outruns 5%. In flat markets the cap does not bite. Illustrative only: assumes assessed value equals market value at the start, no sale or improvements, and flat millage.

Steadier taxes mean steadier carrying costs and a steadier DSCR.

Run my DSCR numbers

Common questions about Amendment 3

What is Florida Amendment 3?

Amendment 3 is a 2026 Florida constitutional amendment that raises the homestead exemption for non-school property taxes to $150,000 in 2027 and $250,000 in 2028, indexed to inflation after that, and lowers the annual assessment-increase cap on non-homestead property from 10% to 5%. It passed on November 3, 2026.

Does Amendment 3 lower my school taxes?

No. The school-tax portion of your bill and its $25,000 exemption are unchanged. The new exemption applies only to county, municipal and other non-school levies.

How much will I save on a $500,000 home?

It depends on your county. In Miami-Dade, at an average of about 11.7 non-school mills, an already-homesteaded $500,000 home saves roughly $1,174 per year in 2027 and $2,348 per year from 2028. Use the calculator above for your county.

Do I need to be a Florida resident by a certain date?

Yes. You must hold a permanent Florida homestead as of December 31, 2026 to get the full increase in 2027. Residents who establish homestead after that date receive the larger exemption starting in their fifth year of homestead.

Does Amendment 3 help investors and second-home owners?

Not through the homestead exemption, which is for primary residences only. Starting January 1, 2027 it lowers the annual cap on assessment increases for non-homestead property from 10% to 5% for non-school taxes. The cap resets when the property sells, and school taxes stay on full market value.

Is the full $150,000 new?

No. Florida homesteads already receive roughly $50,000 of non-school exemption. The new money is the increase above that: about $100,000 in 2027 and $200,000 in 2028.

Do I have to apply for the new exemption?

If you already have a homestead exemption, the increase should apply automatically. If you are a new homeowner, file for homestead with your county property appraiser; confirm deadlines and details with their office.

Ready to make a move?

Buying, refinancing or adding a rental, start your application and our team will show you exactly what Amendment 3 does to your payment and qualifying power.

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TAG Lending Group, LLC · NMLS #2329372 · Equal Housing Lender · Lender in FL, SC, TN, TX, GA, MI, NM, OH; mortgage broker only in CT, PA, NJ.
General information only. Not tax or legal advice. Savings figures are illustrative estimates. Confirm your exemption, assessed value and millage with your county property appraiser.