Florida Amendment 3 & Your Property Taxes | Sept 2026
Almost every seller and buyer I've talked to this month has asked me some version of the same question: "What happens to my property taxes if Amendment 3 passes?" It's a fair question. On November 3, 2026, Florida voters will decide on the biggest change to homestead property taxes in almost two decades, and it lands right in the middle of a lot of South Florida moving decisions.
I'm not here to tell you how to vote. That's your call. What I want to do is explain, in plain English, what the amendment actually does, who it helps, who it doesn't, and how I'm talking with my Broward, Miami-Dade, and Palm Beach clients about timing a sale or purchase around it.
What Amendment 3 Actually Does
The official title is "Save our Homes from Excessive Property Taxes." Based on the ballot summary and analysis from the Tax Foundation and the Florida Policy Institute, here are the main pieces:
- A much bigger homestead exemption. Today, a Florida homestead gets up to $50,000 knocked off its taxable value (only $25,000 of that applies to school taxes). Amendment 3 would raise the non-school exemption to $150,000 in 2027 and $250,000 in 2028, with inflation adjustments after that.
- School taxes are not included. The bigger exemption applies to county, city, and special district taxes, but not to school district levies. That piece of your bill would work the same way it does now.
- A tighter cap for non-homestead property. Rentals, second homes, and commercial property can currently see their assessed value climb up to 10% a year. Amendment 3 would cut that cap to 5% (again, not counting school taxes).
- A five-year wait for new Florida residents. People who establish Florida residency after January 1, 2027 would have to keep that residency for five years before they get the larger exemption.
- Limits on how local governments spend property tax dollars. The remaining revenue would have to go toward core needs like public safety, infrastructure, education, and natural resources.
It needs 60% of the vote to pass. If it does, most of it kicks in January 1, 2027.
What It Could Mean for Your Tax Bill
Here's a simple way to picture it. Say your homestead in Broward has an assessed value of $400,000. Right now, your non-school taxable value is about $350,000 after the $50,000 exemption. In 2028, with a $250,000 exemption, that non-school taxable value would drop to about $150,000. The school portion of your bill would still be figured on the old exemption.
Your actual dollar savings depend on your city's and county's millage rates, so I'd rather not throw out a made-up number. Your TRIM notice from this summer breaks your bill down by taxing authority, and that's the best place to see how much of your bill is school taxes versus everything else.
The Other Side of the Ledger
The money has to come from somewhere, and local governments are already doing the math. Florida's Revenue Estimating Conference pegs the statewide cost at roughly $12 billion a year on a recurring basis. Locally:
- Miami-Dade County estimates a $385 million revenue loss in the first year, according to CBS Miami's September 2 report. Mayor Daniela Levine Cava has warned that roads, flood protection, parks, and transit could face cuts.
- WLRN reports the Broward County Property Appraiser estimated a second-year loss of $333.8 million for Broward.
- The South Florida Water Management District could lose about $21 million in year one and $43 million in year two, per WLRN.
The Tax Foundation also points out that homestead property makes up only about 36% of taxable value statewide, so a big homestead break can shift more of the load onto everyone else: renters (through their landlords), second homeowners, businesses, and newcomers. That could mean higher millage rates, new fees, or service cuts down the road.
If You're Thinking About Selling
This is where I'm spending most of my time with sellers right now. A few things I'm telling them:
- Portability still matters. Under current law, you can carry up to $500,000 of your Save Our Homes benefit to your next Florida homestead. If you're moving within Florida, that benefit plus a bigger exemption could make your next home a lot cheaper to own. Just make sure you file for homestead on the new place by March 1.
- Don't sit on your hands waiting for November. Nothing changes for any sale that closes this year. Buyers are still buying, and fall is when snowbird and relocation demand starts picking back up.
- Your buyer pool could shift. Out-of-state buyers arriving after January 1, 2027 would face the five-year wait for the bigger exemption. Local move-up buyers, on the other hand, may feel more confident about carrying costs. How that shakes out depends on your price point and neighborhood.
If You're Thinking About Buying
Remember that when you buy, the assessed value generally resets to market value. That's the part of Florida property taxes that surprises people the most, and Amendment 3 doesn't change it. A bigger exemption softens the blow, but I'd still budget using the current rules until the vote is final and the new exemption shows up on an actual bill.
If you're relocating from out of state, pay close attention to the residency date. Establishing Florida residency before January 1, 2027 versus after it could make a real difference in your first five years of taxes if the amendment passes. Talk to a tax professional about your specific situation.
And if you're an investor or buying a second home, the 5% cap on non-homestead assessment increases would be good news for predictability, but it wouldn't stop local governments from raising millage rates to make up lost revenue.
A Quick Note on Rates
Property taxes are only one piece of your monthly payment. According to Freddie Mac's survey for the week of September 24, 2026, the average 30-year fixed rate was 7.03% and the 15-year was 6.42%, both up from a year ago (6.30% and 5.49%). That's why I'm encouraging buyers to look at the whole picture: rate, insurance, HOA, and taxes together.
What I'd Do Next
Whatever happens on November 3, the smartest move is to know your numbers before you make a decision. If you're thinking about selling in Broward, Miami-Dade, or Palm Beach, start with a free home valuation at homes.discoversouthfl.com. You'll see what your home could sell for in today's market.
If you want a personalized market analysis, including how your current tax situation and portability could play into your next move, email me at eduardosellsfl@gmail.com. I'm happy to walk through it with you, no pressure.