Florida Property Tax Amendment Explained

Update, November 4, 2026: Florida voters approved Amendment 3 on November 3, 2026, and it takes effect January 1, 2027. To qualify for the larger homestead exemption, you need to be a Florida resident by December 31, 2026. Here is how to establish Florida residency the year you relocate.

On June 2, 2026, Florida lawmakers approved a property tax proposal, and on November 3, 2026, Florida voters approved it as Amendment 3. It changes how homesteaded properties are taxed in Florida starting January 1, 2027. Here is what Florida homeowners and buyers need to understand about what changed.

What Amendment 3 Changes

The biggest change is the size of the homestead exemption.

Today, Florida’s homestead exemption generally protects up to $50,000 of a qualifying property’s assessed value. The first $25,000 applies to all property taxes, including school district taxes. The additional exemption applies to non-school taxes only.

Under Amendment 3, the homestead exemption increases to $150,000 in 2027 and then $250,000 in 2028 for non-school property taxes.

That means more of a qualifying homesteaded property's assessed value is protected from county, city, and other non-school property taxes. School district taxes are still handled separately, which is an important detail when reviewing the full tax bill.

What This Means for Homeowners

For homeowners with a qualifying homestead exemption, the benefit is straightforward: a larger portion of the home's assessed value is protected from certain property taxes.

That matters because property taxes are calculated using taxable value. When more assessed value is exempt, the taxable value used for certain parts of the bill may be lower.

For buyers, this can make Florida even more appealing when comparing long-term ownership costs. Property taxes are only one part of the full monthly picture, but a larger homestead exemption adds another financial benefit for those who qualify after purchasing a home.

Florida already attracts buyers for its lifestyle, weather, beaches, business climate, and no state income tax. A larger homestead exemption can make owning a home in Florida even more appealing for buyers who qualify.

The Bottom Line

Florida voters approved Amendment 3 on November 3, 2026, and it is now part of the Florida Constitution, taking effect January 1, 2027. Buyers who become Florida residents on or after January 1, 2027 start with a smaller exemption and wait five years for the larger one, so being a resident by December 31, 2026 matters.

Qualifying homesteaded properties now receive a much larger exemption from certain property taxes. School district taxes are still treated separately, and the impact depends on the specific property. Talk with your tax advisor about your situation.

For Palm Beach County homeowners and buyers, this is worth following. It adds another reason owning a homesteaded property in Florida feels even more valuable.

Considering a move to Palm Beach County? Contact Lisa Treu and Treu Group Real Estate at (561) 352-3056 or visit www.treugroup.com.