Amendment 3 Passed: What It Means for Florida Homeowners

Florida voters approved Amendment 3 on November 3 with about 62% of the vote, clearing the 60% needed to change the state constitution. Results are unofficial until certified. Starting January 1, 2027, most Florida homeowners will get a much larger homestead exemption on their non-school property taxes.

This is one of the biggest changes to Florida property taxes in years, and it affects homeowners, people planning a move to Florida, and anyone who owns a rental or second home. Here's what changes, when, and what it could mean for you on the Space Coast.

What changes, and when

• December 31, 2026: Deadline to be a permanent Florida resident to qualify for the larger exemption without a waiting period.
• January 1, 2027: The amendment takes effect. The non-school homestead exemption rises to $150,000, and the yearly cap on non-homestead assessments drops from 10% to 5%.
• August 2027: The new exemption first shows up on TRIM (proposed tax) notices.
• November 2027: First tax bills reflecting the change.
• January 1, 2028: The non-school homestead exemption rises to $250,000.
• 2029 and beyond: The $250,000 amount adjusts each year for inflation.

A few things stay the same:

• School taxes still have the same $25,000 homestead exemption.
• Save Our Homes still caps yearly increases in a homestead's assessed value at 3% or inflation, whichever is lower, and portability still works.
• Senior, veteran, disability and widow(er) exemptions don't change.
• Non-ad valorem assessments, like solid waste and stormwater fees, still appear on your bill.

The amendment lowers property taxes for homesteaders. It does not eliminate them.

What it means for you

If you already own a homestead. Expect a lower non-school tax bill starting in November 2027, with a bigger drop in 2028. How much you save depends on your assessed value, the exemptions you already have, and local tax rates. As a rough guide, every $10,000 of added exemption saves about $100 a year at a 10-mill tax rate. Recent buyers, whose assessed values are close to market value, tend to see the biggest benefit. Longtime owners with large Save Our Homes savings may see less change.

If you're moving to Florida. Timing now matters a lot. If you become a permanent Florida resident by December 31, 2026, you qualify for the larger exemption even if you buy your home later. If you become a resident on or after January 1, 2027, you start with up to $50,000 and move up to the larger exemption in your fifth year of homestead. The ballot language applies that waiting period "to the extent permitted by the U.S. Constitution," so it could still be tested in court.

If you own a rental, second home or business property. Your assessed value can now rise no more than 5% a year for non-school taxes, down from 10%. That doesn't lower today's bill, but it slows how fast it can grow, which makes long-term costs more predictable for investors.

If you're buying. Lower ongoing property taxes can make a home more affordable month to month. When you compare homes, look past the seller's current tax bill. Your bill will be based on your purchase price and your own exemptions.

If you're selling. Buyers who qualify for the larger exemption may be able to stretch a little further on price because their yearly carrying costs are lower. It's a good point to highlight when marketing your home to Florida residents.

What to do now

• Make sure your homestead exemption is filed. If you bought this year, apply with the Brevard County Property Appraiser by March 1. Check with the Property Appraiser on whether any extra step is needed for the new amounts.
• Planning a move to Florida? Talk to us before December 31. Establishing permanent residency by year-end could mean four extra years of the larger exemption.
• Watch your August 2027 TRIM notice. It's the first place you'll see the new exemption applied to your home.
• Thinking about buying or selling? We can walk you through how the new exemption could change your monthly costs or your buyer pool.

Ronda and I are happy to answer your questions about what Amendment 3 means for your home and your plans.

Ronda Kunz, Broker | 321-544-8405

Doug Kunz, REALTOR® | 321-427-6102

In the Home Zone Realty | www.inthehomezonerealty.com

This post is general information, not tax or legal advice. Results are unofficial until certified. For your specific situation, check with the Brevard County Property Appraiser or a tax professional.

Sources

• CBS12: Amendment 3 passes with 62% of the vote
• WFTV: Amendment 3 passes, expanding property tax exemptions
• FOX 13: Voters pass historic property tax caps
• ClickOrlando: How Florida's newest property tax plan works
• Pinellas County Property Appraiser: Amendment 3 FAQs