Florida's Property Tax Amendment, Explained Without the Spin

The basics

Amendment 3 is officially titled "Save Our Homes from Excessive Property Taxes." The Florida Legislature passed it during a special session in June 2026, after Governor Ron DeSantis called lawmakers back to address property taxes. The House approved it 75 to 26, and the Senate approved it 30 to 9.

Because it changes the Florida Constitution, it needs at least 60% of voters to approve it. A simple majority isn't enough.

If it passes, most of it takes effect January 1, 2027. The first tax bills affected would be the ones delivered in November 2027.

How Florida property taxes work today

Before getting into the changes, it helps to understand the current system, because a lot of the amendment builds on it.

Your tax bill is based on assessed value, not market value. The property appraiser sets a just value, which is roughly market value, and then applies limits and exemptions to get your assessed and taxable values.

Homesteads already have a cap. Under the existing Save Our Homes provision, the assessed value of a homestead can generally rise by no more than 3% a year, or the rate of inflation, whichever is lower. That's why long-time homeowners often pay much less than a new buyer of the house next door. When you sell, the cap resets for the buyer.

Portability. If you move from one Florida homestead to another, you can often carry some of that built-up Save Our Homes benefit with you to the new home, up to a limit. You have to apply for it.

Millage rates. Each local taxing authority, like the county, the city, the school district, and special districts, sets a millage rate. Your bill adds them all up. That's why two homes with the same value in different parts of the same county can have very different tax bills.

Exemptions. The standard homestead exemption is the big one, but there are others for certain seniors with limited income, veterans with disabilities, surviving spouses, first responders who were disabled in the line of duty, and more. Many of these depend on your county and require an application.

Amendment 3 doesn't replace the Save Our Homes cap on homesteads. It adds a much larger exemption on top of the current system for non-school taxes, and it tightens the cap on non-homestead property.

What it would change

There are four main pieces.

1. A much bigger homestead exemption for non-school taxes

A homestead exemption reduces the taxable value of your primary home. Right now, for the 2026 tax year, a qualifying Florida homeowner can get up to about $51,411 in exemptions. That's made up of $25,000 that applies to all property taxes, including school taxes, and an additional amount that applies only to non-school taxes.

Under Amendment 3, the exemption for non-school taxes would rise to $150,000 starting in 2027, and to $250,000 starting in 2028. After that, it would be adjusted for inflation each year.

The amendment also directs the Legislature to set up a process for eventually eliminating non-school property taxes on homesteads entirely.

The key phrase is non-school. School district property taxes aren't part of the bigger exemption. On a typical Florida tax bill, school taxes are a large share of the total. So even with the amendment, homeowners would still pay school property taxes.

2. A lower cap on assessment increases for non-homestead property

Right now, the assessed value of non-homestead property, like rental homes, second homes, and commercial buildings, can generally rise by no more than 10% a year for most taxes. Amendment 3 would lower that cap to 5% a year.

That means property taxes on rental and commercial property would grow more slowly when values are rising.

3. A residency rule for new Floridians

People who become Florida residents after the amendment takes effect would not get the full new exemption right away. For their first several years, they'd receive a smaller exemption, and they'd need to maintain Florida residency for five consecutive years to reach the higher tier.

4. Limits on how cities and counties spend property tax money

The amendment would restrict what counties and cities can use property tax revenue for. It lists essential functions, including law enforcement, fire and emergency services, infrastructure, environmental management, debt payments, employee retirement obligations, and general government operations.

What it could mean for your tax bill

Let's run a simplified example. This is illustrative only. Your actual savings depend on your home's assessed value and your local tax rates.

Let's say your home has an assessed value of $300,000 and qualifies for the homestead exemption. And let's say your combined non-school tax rate is about 12.2 mills, which is roughly the countywide average non-school rate one Florida property appraiser used in its own illustration. One mill is $1 of tax for every $1,000 of taxable value.

• In 2027, the non-school exemption would rise from about $51,411 to $150,000. That's roughly $98,600 more exempted value. At 12.2 mills, that's about $1,200 less in non-school taxes for the year.
• In 2028, at $250,000, the added exempted value compared to today would be about $198,600. That works out to roughly $2,400 less in non-school taxes for the year.

Your school taxes would stay roughly where they are, since school levies aren't part of the bigger exemption.

The best way to see your own numbers is through your county property appraiser's website. Several appraisers have posted calculators and FAQs about Amendment 3. Your annual TRIM notice, the proposed tax notice mailed each August, also shows exactly which taxing authorities you pay and at what rates.

What it could mean for local government budgets

This is the other side of the ledger.

Property taxes are the main source of revenue for Florida's counties, cities, and special districts. Florida has no state income tax, so local governments rely heavily on property taxes to pay for police, fire, roads, parks, libraries, and more.

A Florida House staff analysis estimated the amendment would reduce local non-school property tax revenue by about $4.95 billion in the 2027-28 fiscal year and about $8.78 billion in 2028-29. Over time, the recurring impact was estimated at about $11.86 billion a year. The state's Revenue Estimating Conference put the recurring cost at about $12 billion.

Those estimates don't include the cost of fully eliminating non-school homestead taxes down the road, since that would require future legislation.

How that plays out would vary a lot by county. Places with a high share of homesteaded properties would feel it more. Places with more commercial property, tourism, or second homes might feel it less.

The case supporters make

Here's the strongest version of the argument for Amendment 3.

Homeowners are being squeezed. Florida homeowners have been hit by rising insurance premiums, higher HOA fees, and property tax bills that climbed as home values rose. Supporters argue the amendment provides meaningful, lasting relief to people who live in their homes.

Property taxes can price people out. Retirees and people on fixed incomes can own their homes outright and still face rising tax bills they struggle to pay. Supporters say reducing homestead taxes helps people stay in homes they've already paid for.

Local governments should prioritize. Local property tax revenue has grown a lot in recent years, from about $35.7 billion to roughly $60 billion over six years, according to one legal analysis. Supporters argue governments can absorb the reduction by focusing on core services, and the amendment's spending limits push them to do exactly that.

The essential services are protected. Supporters point out that the amendment specifically lists public safety, schools, infrastructure, and retirement obligations as permitted uses of property tax revenue.

Slower growth for businesses and landlords. The lower cap on non-homestead assessments could make taxes more predictable for small businesses and rental property owners.

The case opponents make

Here's the strongest version of the argument against Amendment 3.

The revenue loss is large. Opponents point to the multibillion-dollar reduction in local revenue and argue that it will force cuts to services or shift costs elsewhere, even with essential functions listed as priorities.

Other taxes and fees could rise. When property tax revenue falls, local governments may turn to other sources, like fees for services, special assessments, or other local taxes. Opponents argue the tax burden could shift rather than shrink.

Renters and businesses carry more of the load. Renters don't get a homestead exemption. Opponents argue that as homesteaded owners pay less, a larger share of the remaining property tax burden falls on rental property, commercial property, and ultimately on renters and customers.

It favors long-time owners over newcomers. The residency rule means new Florida residents would get a smaller exemption for years. Opponents argue this creates unequal treatment between neighbors in similar homes.

It's hard to undo. Because it's a constitutional amendment, changing it later would require another statewide vote with 60% approval.

Why this matters to public employees specifically

This is the part I want to spend a little time on, because it's specific to a lot of the people who read this blog.

If you're a teacher, a deputy, a firefighter, or a county or city employee, you may be affected in two ways at once.

As a homeowner. If you own and live in your home in Florida, you'd likely see a lower non-school property tax bill if the amendment passes.

As a public employee. Your salary, your benefits, and your employer's contributions to the Florida Retirement System are paid from government budgets. For counties, cities, and many special districts, property taxes are a major part of those budgets. The amendment lists law enforcement, fire, emergency services, and employee retirement obligations as protected uses of property tax money. How that protection works in practice, when overall revenue shrinks, is one of the things supporters and opponents disagree about.

School district employees are in a slightly different position, since school property taxes aren't part of the bigger exemption.

I'm not going to tell you how to weigh those two things. Different people in the same job will land in different places depending on their household, their county, and their values. But it's worth thinking about both sides of your own situation, not just one.

What happens after November 3

It helps to think through both outcomes.

If it passes

Most of the amendment would take effect January 1, 2027. Property appraisers would apply the new exemption to 2027 assessments, and homeowners would see it first on their August 2027 TRIM notices and November 2027 tax bills.

Local governments would build their 2027-28 budgets knowing their non-school property tax revenue would be lower. Budget decisions for that year would likely be debated in the summer of 2027. The larger $250,000 exemption would follow in 2028.

The Legislature would also have to write the laws that carry out parts of the amendment, including the process toward eliminating non-school homestead taxes over time. Those details could matter a lot, and they'd be decided later.

If it fails

The current system stays in place. The homestead exemption, the Save Our Homes cap, and the 10% cap on non-homestead property would continue as they are. Property tax relief could still come up again through other legislation or future ballot measures, as it has many times in Florida's history.

Either way

Your TRIM notice arrives each August and shows your proposed taxes before rates are final. Each local taxing authority holds public budget hearings, and the dates are printed on that notice. Those hearings are where local tax rates actually get set, whether or not the amendment passes.

How to learn more and vote

A few things worth knowing:

• Read the ballot language. The official title and summary will be on your ballot. Reading it ahead of time makes the voting booth a lot less confusing.
• Check your county property appraiser's website. Many have posted Amendment 3 FAQs and estimated impacts for their county.
• Look at your TRIM notice. It shows which taxing authorities bill you and how much of your bill is school taxes versus non-school taxes.
• Know your voting options. Florida offers early voting, vote-by-mail, and Election Day voting. Your county Supervisor of Elections website lists early voting dates and locations and the deadline to request a mail ballot.
• Remember the 60% threshold. The amendment needs 60% of those voting on it to pass.

What I'm not going to do

I'm not going to tell you how to vote on Amendment 3. It's a policy choice with real trade-offs, and reasonable people who share the same goals land on different sides of it.

I'm also not going to tell you the savings estimates or the revenue estimates are exact. They're estimates, and the real effects would depend on property values, local decisions, and future legislation.

What I will say is this. When it comes down to it, property taxes are part of the real cost of owning a home in Florida, alongside insurance, HOA fees, and maintenance. Whatever happens on November 3, it's worth knowing what you actually pay today and what's driving it.

The short version

• Amendment 3 is on the November 3, 2026 ballot and needs 60% approval.
• It would raise the homestead exemption for non-school property taxes to $150,000 in 2027 and $250,000 in 2028, then index it for inflation.
• School property taxes are not part of the bigger exemption.
• It would cut the annual assessment cap on non-homestead property from 10% to 5%.
• New residents after the amendment takes effect would wait five years for the full exemption.
• State estimates put the recurring reduction in local non-school revenue at roughly $12 billion a year.
• Supporters emphasize homeowner relief. Opponents emphasize the revenue loss and cost shifts.

If you'd like to look at how your property taxes, insurance, and other housing costs fit into your overall budget or retirement plan, I'm glad to go through it with you.

Frequently asked questions

What is Florida Amendment 3 on the 2026 ballot?

Amendment 3, titled "Save Our Homes from Excessive Property Taxes," would raise the homestead exemption for non-school property taxes, lower the assessment cap on non-homestead property from 10% to 5%, add a residency requirement for new residents, and limit how local governments use property tax revenue.

Does Amendment 3 eliminate property taxes in Florida?

No. It would exempt the first $150,000 of a homestead's value from non-school property taxes in 2027 and the first $250,000 in 2028. School taxes would still apply. The amendment directs the Legislature to create a schedule for eventually eliminating non-school homestead taxes, which would require future legislation.

How much of the vote does Amendment 3 need to pass?

As a constitutional amendment, it needs approval from at least 60% of voters.

When would Amendment 3 take effect?

If approved, most provisions take effect January 1, 2027, with the first affected tax bills delivered in November 2027.

Does Amendment 3 help renters?

Renters don't receive a homestead exemption. The lower assessment cap on non-homestead property could slow tax increases on rental properties, but opponents argue renters could bear more of the overall property tax burden over time.

Educational content only. Not individualized investment, tax, or legal advice. This post does not take a position on Amendment 3 and is not intended to influence any vote. Examples are hypothetical and for illustration only. Benowitz Wealth Management is a brand of Joy Financial Group LLC, a Florida state-registered investment adviser. Consult a qualified tax professional regarding your specific situation.

Neither Joy Financial Group LLC nor Benowitz Wealth Management is affiliated with, endorsed by, or employed by the Florida Retirement System, the Florida Division of Retirement, the State Board of Administration of Florida, MyFRS, or any government agency. FRS members may obtain free, unbiased guidance from the MyFRS Financial Guidance Line at 1-866-446-9377.