Florida voters passed Amendment 3 on November 3, 2026, and the Florida Amendment 3 property taxes changes will reach homeowners soon. About 62% voted yes, well above the 60% needed, according to unofficial results from Decision Desk HQ. Here's what the amendment does, when it starts, and what it could mean if you're thinking about a new home. William Ryan Homes builds new homes across Florida, so we want you to have the facts.
What the Florida Amendment 3 Property Taxes Change Means
The biggest change is a larger homestead exemption. It lowers the taxable value of your primary home for non-school property taxes. Here's the schedule:
- January 1, 2027: Up to $150,000 of assessed value is exempt, up from about $50,000 today.
- January 1, 2028: The exemption rises to $250,000.
- 2029 and later: The amount adjusts each year for inflation.
Your school property taxes don't change. The existing $25,000 school exemption stays the same. Save Our Homes also stays in place, so your homestead's assessed value still can't rise faster than 3% or inflation, whichever is lower, according to the Polk County Property Appraiser.
Who Gets the Larger Exemption?
Timing matters here. Homeowners who are permanent Florida residents as of December 31, 2026, and who qualify for homestead, get the larger schedule. If you establish Florida residency after that date, you generally start with a smaller $50,000 exemption on non-school taxes. You then qualify for the larger exemption in your fifth year.
Current homestead owners don't need to take new steps. Hillsborough County says the larger exemption would apply automatically for existing homestead owners, with no new filing.
Other Changes in Amendment 3
The amendment also reaches beyond homestead owners. Here's what else changes:
- Lower assessment cap for non-homestead property: Starting January 1, 2027, the yearly cap on assessed value increases drops from 10% to 5%. That covers second homes, rentals, and commercial property.
- Spending limits for local governments: Cities and counties must use remaining property tax revenue for listed core services, such as public safety, schools, and infrastructure.
- Taxable value, not tax rates: The amendment changes what's taxable. It doesn't change millage rates.
That last point matters. City and county officials have warned that the changes could mean billions in lost local revenue, per Fox 13. Some local governments may respond with higher fees. Your final bill will still depend on where you live.
What the Florida Amendment 3 Property Taxes Mean for Your Budget
Property taxes are only one piece of your monthly cost. You'll also budget for your mortgage, homeowners insurance, and HOA or CDD fees. A larger exemption lowers taxable value, but it doesn't change those other costs. It also won't reduce special district assessments.
So how do you plan? Start by asking your lender to run a payment estimate for the community you like. Then ask your sales counselor which taxes and fees apply in that neighborhood. Our buyer guides walk through each cost in plain language.
Ready to Explore New Homes in Florida?
Whether you're drawn to the Tampa Bay area or Southwest Florida, a new home gives you modern construction and a 10-year structural warranty. Browse our Tampa-area communities, including Parrish, or explore Punta Gorda and our post on home builders in Babcock Ranch.
The fastest way to get exact numbers is to talk with our team. Request information today and a sales counselor will share pricing, floor plans, and current incentives. It only takes a minute, and there's no obligation. Prefer to see a home in person? Schedule a new construction home tour.
This post is general information, not tax or legal advice. Confirm how Amendment 3 applies to you with your county property appraiser or a tax professional.
