What Amendment 3's Failure Means for Florida Residents

Florida voters passed Amendment 3 on November 3, 2026, approving the largest property tax cut in state history. The measure won 62% of the statewide vote, clearing the 60% supermajority the Florida Constitution requires for any constitutional amendment (WESH). Starting in 2027, it roughly triples the homestead exemption on non-school taxes and ties future growth to inflation — a direct win for homeowners, and a budget challenge for local governments.

Why this matters now: the measure raises the non-school homestead exemption to $150,000 in 2027 and $250,000 in 2028, with the amount adjusted for inflation starting in 2029 (Ballotpedia)). Today, the first $25,000 of a primary home's value is exempt from all property taxes, and homes worth $50,000 or more can claim up to a $50,000 total exemption from non-school taxes (Tallahassee Democrat). Amendment 3 triples that second exemption, and it applies only to non-school taxes — the school portion stays unchanged. Here's what changes for you, what stays the same, and who pays the bill.

The amendment also lowers the annual assessment cap on non-homestead properties — rentals and commercial buildings — from 10% to 5% beginning with the 2027 tax year, except for school district taxes, and it limits counties and municipalities to spending property tax revenue on public safety, education, infrastructure, natural resources, flood control, bonds, retirement benefits, and operations (Ballotpedia)). The changes take effect January 1, 2027, applying to next year's tax bills (WJHG).

What the expanded exemption means for your tax bill

The savings depend on your home's assessed value and the tax rate in your city or county. Under the average non-school property tax rate of $10.50 per $1,000 of taxable value, a home assessed at more than $250,000 would save about $1,035 in 2027 and $2,085 in 2028, according to Florida TaxWatch (Tallahassee Democrat). If your home is assessed at $150,000 or less in 2027 — or $250,000 or less in 2028 — you would owe only school taxes on the value after the first $25,000.

The inflation index is the part that matters long-term. Once the exemption hits $250,000 in 2028, the amount is adjusted for inflation each year starting in 2029 (Ballotpedia)). Without that indexing, inflation would quietly shrink the exemption's real value over time, pushing more of a home's value into taxable territory year after year — the bracket-creep problem the amendment is designed to prevent.

The expanded exemption has one big catch: you must have been a permanent Florida resident for five years or more. New residents who file a homestead after December 31, 2026, start with the current $50,000 exemption and qualify for the larger one only in their fifth year in the state (Miami-Dade County). Renters get no direct tax cut, because the exemption applies only to homes people own and live in — though the amendment lets the Legislature offer renter relief later, without requiring it or setting aside money (Miami-Dade County).

The tradeoff is local budgets. Legislative staff estimated the amendment would reduce local government revenue by $4.6 billion in fiscal year 2027-28 and $8.4 billion in fiscal year 2028-29 (Ballotpedia)). In Miami-Dade alone, the county estimates it would collect about $385.8 million less in property tax revenue at current tax rates beginning October 2027, growing to roughly $696.7 million in October 2028 once the full exemption is in place (Miami-Dade County).

Sheriffs and fire officials warned the shortfall would mean fewer deputies, slower 911 responses, and reduced disaster response — while supporters, including Florida Realtors (which contributed $18 million to the campaign), argue the cut makes homeownership more affordable for current owners and future buyers alike (Tallahassee Democrat).

What stays the same for renters and schools

The school tax exemption is unchanged — the first $25,000 of a home's value stays exempt from school property taxes, and Amendment 3's expansion applies only to non-school taxes (Ballotpedia)). Renters see no direct cut, because the exemption covers only owner-occupied primary residences; the amendment permits — but does not require or fund — renter relief later. For new Floridians, the bigger exemption waits until their fifth year in the state, which means the tax cut lands most quickly for residents who have already built a life here.

The practical takeaway: homeowners who have held a homestead for five-plus years get the largest, most immediate savings, with the exemption growing against inflation from 2029 onward. Everyone else — renters, recent movers, and commercial owners — faces a different math, and local services from fire rescue to libraries now hinge on how counties close a revenue gap in the billions (Tallahassee Democrat).

What should homeowners do next?

If you already hold a homestead exemption and have lived in Florida for five years or more, the expansion applies automatically — no action needed beyond your existing homestead filing. The $150,000 exemption applies to 2027 taxes and the $250,000 amount to 2028 taxes, with the inflation adjustment beginning in 2029 (Ballotpedia)). If you bought a home in 2026 but had not established residency by December 31, 2026, expect to start at the current $50,000 exemption and step up to the larger amount in your fifth year.

A property tax calculator that estimates your annual savings is available at SaveOurHomesFL.com (WESH). If you're a renter or a recent arrival, watch for your county's budget decisions in 2027 — fee increases or service reductions are how local governments will close the revenue gap, and those choices happen at the city and county level, not in Tallahassee.