# Florida Amendment 3: Property Tax Relief Explained

By Anthony Angelillo (@anthonyangelillo) · Published 2026-11-12

Canonical: https://voce.com/@anthonyangelillo/florida-amendment-property-tax-relief-explained-czu8cb

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On November 3, 2026, Florida voters approved **Amendment 3**, one of the most significant property tax changes the state has seen in years. Starting with the 2027 tax year, homesteaded owners get a much larger exemption from non-school property taxes, and owners of rentals, second homes and commercial property get a tighter cap on how fast their assessments can rise.

School taxes do not change. Here is a clear breakdown for homeowners, investors and the Realtor and MLO partners who advise them.

## The key numbers

-   **2027:** Non-school homestead exemption rises to **$150,000**.
    
-   **2028 and beyond:** Non-school homestead exemption rises to **$250,000**, indexed to inflation.
    
-   **School taxes:** Unchanged.
    
-   **Non-homestead properties:** Annual assessment cap drops from **10% to 5%** (non-school taxes).
    
-   **Deadline to watch:** Homeowners should have homestead in place by **December 31, 2026**.
    

## What it means for homeowners

Most Florida homesteads already receive roughly $50,000 in exemptions today. Only the increase above that amount is new savings. For a $500,000 homesteaded home, estimated non-school tax savings look like this:

County (avg. non-school mills)

2027 / yr

2028+ / yr

2028+ / mo

Miami-Dade (11.74)

$1,174

$2,348

$196

Broward (13.72)

$1,372

$2,744

$229

Palm Beach (11.40)

$1,140

$2,280

$190

Orange (15.25)

$1,525

$3,050

$254

A lower property tax bill can mean a lower escrow payment, which matters for affordability conversations with buyers.

## What it means for investors

Rentals, second homes and commercial properties do not qualify for the homestead exemption. Instead, Amendment 3 cuts the annual cap on assessed value for non-school taxes from 10% to 5%, effective January 1, 2027. First tax bills reflecting the change arrive in November 2027.

-   **Resets on sale:** A buyer starts at market value.
    
-   **School taxes:** Still assessed on full market value.
    
-   **Homestead exemption:** Not available.
    

Example: a $500,000 rental in Miami-Dade with market value rising 8% per year at 11.74 average non-school mills.

Year

Assessed at 10% cap

Assessed at 5% cap

Tax 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 outpaces 5%. In flat markets, the cap does not come into play. For investors, steadier property taxes can mean more predictable cash flow on DSCR-qualified properties.

## How partners can use this

-   Remind buyers closing before year-end to file for homestead by December 31, 2026.
    
-   Bring estimated tax savings into affordability and escrow conversations.
    
-   Talk with investor clients about how a 5% cap may affect long-term holding costs.
    

## Get your exact number

Run an estimate for any of Florida's 67 counties and any home value in about 30 seconds at [taglendinggroup.com/florida-amendment-3](https://taglendinggroup.com/florida-amendment-3). Working with investors? Learn about DSCR, LLC closings, 2–8 units and foreign national programs at [taglendinggroup.com/dscr](https://taglendinggroup.com/dscr), or call **305-503-8655**.

**Let's TAG Team This Deal!®**

_TAG Lending Group, LLC | NMLS #2329372 | Equal Housing Lender | Lender in FL, SC, TN, TX, GA, MI, NM, OH; broker only in CT, PA, NJ. Estimates and examples are illustrative only and are not tax or legal advice. County averages: Florida TaxWatch (2025). City and district rates vary; confirm with your county property appraiser. Investor example assumes assessed value equals market value at start, no sale or improvements, and flat millage. Not a commitment to lend._