Amendment 3: Floridians’ Chance to Save Money on Property Taxes
Could Amendment 3 finally give Florida property owners some meaningful relief from rising property taxes?
If Florida voters approve Amendment 3 in November 2026, it would substantially increase the homestead exemption on non-school property taxes and lower the annual assessment-growth cap on non-homestead properties. In my opinion, this could be one of the most important property-tax changes Floridians have considered in years.
There is a lot of information—and misinformation—being circulated about Amendment 3. Whether you own a home, rent, own investment property, or are thinking about buying your first Florida home, I believe you should understand what is actually in this amendment before voting.
What Would Amendment 3 Actually Do?
Amendment 3 would increase the homestead exemption for non-school property taxes.
The exemption would increase to:
$150,000 beginning in 2027
$250,000 beginning in 2028
Beginning in 2029, the amount would be adjusted for inflation.
This does not eliminate the school portion of a homeowner's property taxes. The increased exemption applies to non-school property taxes.
The amendment is scheduled for Florida's November 3, 2026 General Election and requires at least 60% voter approval to become part of the Florida Constitution.
Amendment 3 Isn't Just About Current Homeowners
One part of this proposal that I don't think is getting enough attention is how broadly it could affect Florida real estate.
Amendment 3 would reduce the annual cap on increases in assessed value for non-homestead properties from 10% to 5%.
That includes properties such as second homes, rental properties, commercial real estate, and vacant land.
For investment-property owners, limiting how quickly the assessed value can increase could provide greater predictability in future property-tax costs.
That potentially matters to renters as well.
Property taxes are one of the expenses landlords have to account for when determining what it costs to own and operate rental property. A lower assessment-growth cap could help limit one source of rising landlord expenses.
However, renters should understand that this does not guarantee lower rents. Rent depends on many factors, and critics of Amendment 3 argue that local governments could respond to reduced homestead-tax revenue in ways that shift some costs elsewhere.
December 31, 2026 Is an Important Date
There is another provision that could be particularly important for people who live in Florida today but haven't purchased a home yet.
Under the amendment, Florida permanent residents as of December 31, 2026 who establish a homestead can qualify for the enhanced exemption.
People establishing Florida residency after that date would initially receive the existing exemption and generally would not receive the enhanced exemption until their fifth year of exemption.
So this isn't something only today's homeowners should be reading about. Today's Florida renter could be tomorrow's Florida homeowner.
What Happens to Save Our Homes and Portability?
Amendment 3 does not eliminate Florida's existing Save Our Homes assessment limitation.
Portability also remains available.
That is an important distinction because Amendment 3 primarily changes the amount of the homestead exemption for non-school taxes while also reducing the assessment-growth cap on non-homestead property.
What About Police, Firefighters and Essential Services?
This has become one of the biggest arguments surrounding Amendment 3.
Opponents—including police, firefighter and other local-government organizations—have warned that reducing the taxable value of homesteaded property could substantially reduce local-government revenue and put pressure on public-safety budgets and other services.
That concern deserves to be taken seriously.
At the same time, the amendment itself specifically identifies public safety, education and schools, infrastructure, natural resources, bond debt service, employee retirement benefits, and government operations and administration among the purposes for which county and municipal property-tax revenue is to be used.
In my view, the debate shouldn't simply be whether government receives less property-tax revenue. We should also be asking how government prioritizes the money it receives.
Police officers, firefighters, emergency services, roads and infrastructure are essential responsibilities. If Amendment 3 passes, local governments will have to make decisions about their budgets and determine where spending can be reduced while protecting essential services.
I believe government should look carefully at lower-priority discretionary spending before cutting the services Floridians depend on most.
Why This Matters to Retired Floridians
This is one of the biggest reasons I believe the property-tax discussion is so important.
Someone can spend decades working, paying for a home, raising a family and finally paying off the mortgage—only to discover that the cost of simply remaining in that home continues to rise.
For someone who is retired, that can become a serious problem.
Their home's value may continue increasing, but their retirement income may not increase at the same pace.
A paid-off house doesn't necessarily mean inexpensive housing. Property taxes, homeowners insurance, maintenance, utilities and other costs continue.
I believe we should be very careful about creating a situation where longtime Florida residents eventually struggle to afford the taxes on homes they worked their entire lives to own.
Could Amendment 3 Make Homeownership More Affordable?
Property taxes are part of the monthly housing expense lenders and buyers have to consider.
Reducing qualifying homeowners' non-school property taxes could therefore reduce the ongoing cost of owning a home.
It doesn't solve every affordability problem. Home prices, mortgage rates, insurance premiums and other expenses still matter.
But when we're talking about making Florida housing more affordable, I believe every recurring housing expense deserves attention.
This Is About More Than a Tax Bill
Florida voters will ultimately decide whether Amendment 3 becomes part of our state Constitution.
There are legitimate questions about how local governments would adjust their budgets, and voters should understand both the potential tax savings and the potential effects on local revenue before making that decision.
For me, the larger conversation is about homeownership, affordability and how much of a person's home should remain subject to taxation year after year.
I want Floridians to understand Amendment 3 rather than simply reacting to political advertising from either side.
Read it. Ask questions. Look at your own property-tax bill. Understand what portion goes toward schools and what portion goes toward other local taxes.
Then make an informed decision in November.
My Final Takeaway
As a Northeast Florida real estate agent, I see firsthand how property taxes, homeowners insurance, interest rates and home prices affect whether a family can afford a house.
Amendment 3 could significantly change one piece of that equation.
Whether you're a homeowner in Jacksonville, Mandarin, St. Johns, St. Augustine, Nocatee, Fleming Island, Jacksonville Beach, Neptune Beach, Atlantic Beach or Ponte Vedra Beach—or you're renting today and hoping to own tomorrow—I believe this is an amendment worth understanding.
If you'd like to talk about how Florida property taxes affect buying, selling or owning a home, reach out to me directly.
Michael Nobles
CrossView Realty
I’m always happy to help you understand the numbers behind your real estate decisions.