Lisa Treu
Founder and CEO | Lisa Treu | Treu Group Real Estate
Property taxes are part of the Florida real estate conversation again. If you own a home in Palm Beach County or Martin County, here is what Amendment 3 proposes, what it could mean if voters approve it, and why understanding your home's current market value still matters.
Find Out What My Home Is WorthAmendment 3 is a proposed constitutional amendment on Florida's 2026 general-election ballot. It has not been approved by voters.
When property-tax changes make headlines, it is natural for homeowners to wonder what those changes could mean for their home, their future costs and the real estate market.
There is an important distinction: your property's assessed value for tax purposes is not necessarily the same as the price a buyer may be willing to pay for your home.
Amendment 3 deals with Florida property taxation and assessments. Your home's market value, on the other hand, is influenced by the real estate market and the characteristics of your individual home.
1. What could Amendment 3 change if voters approve it?
2. What could my home actually sell for in today's market?
They are different questions — and homeowners should understand both before making a real estate decision.
Amendment 3 is a proposed amendment to Florida's Constitution that will be considered by voters in the 2026 general election. It proposes several changes involving homestead exemptions, assessments of non-homestead property and the use of certain local property-tax revenue.
For qualifying people who maintained permanent Florida residence by December 31, 2026 and have established or later establish homestead, the proposal provides an exemption from non-school property-tax levies of up to $150,000 of assessed value beginning January 1, 2027.
Beginning January 1, 2028, that amount would increase to as much as $250,000 of assessed value, with positive inflation adjustments beginning in 2029.
Under the proposal, people who establish permanent Florida residence on or after January 1, 2027 and establish homestead would initially receive an exemption of up to $50,000 of assessed value from non-school levies.
Beginning with the fifth year of the exemption, they could qualify for up to the exemption amount available to those who maintained permanent residence by December 31, 2026, subject to the proposal's provisions.
The proposal would reduce the annual assessment-growth cap for certain non-homestead residential and nonresidential real property from 10% to 5%.
This provision concerns changes in assessed value for tax purposes. It does not mean the property's market value would be limited to a 5% annual change.
The proposal also addresses how counties and municipalities may use property-tax revenue.
The legislative summary identifies uses including public safety, education and public schools, infrastructure, natural-resource projects, certain bond obligations, retirement obligations and government operations and administration.
Because Amendment 3 contains several provisions, homeowners should be cautious about reducing it to a single headline about property taxes.
Amendment 3 is on Florida's 2026 general-election ballot.
Florida constitutional amendments require approval from at least 60% of voters voting on the measure.
If approved, these constitutional changes are scheduled to take effect January 1, 2027.
It could become one of several factors homeowners and buyers consider, but the eventual real estate effects cannot be known in advance. A property-tax change does not automatically translate into a specific change in home prices.
Buyers commonly consider property taxes alongside mortgage payments, insurance, association costs and other expenses when evaluating the cost of owning a particular home.
Property-tax rules can be one consideration for people comparing a move to Florida or deciding when to establish their primary Florida home.
The proposed change to the non-homestead assessment cap could be relevant to owners of properties that do not receive a homestead exemption.
Real estate remains local. Inventory, recent comparable sales, competing homes, buyer demand, location and the individual property all matter when evaluating a home's potential market value.
This is one of the most important concepts to understand when reading about Amendment 3.
Assessed value is used as part of the property-tax calculation and is subject to Florida's assessment rules, exemptions and limitations.
Amendment 3 proposes changes involving this tax system.
In a real estate context, market value reflects what a property may command in the current marketplace based on the home itself and current market conditions.
That requires looking at more than the number shown on a property-tax record.
That answer starts much closer to home.
A useful home-value review should consider recent comparable sales, current competition, market activity, location, property condition, improvements, lot characteristics and the features buyers are responding to in your specific area.
Even homes in the same neighborhood can have meaningful differences. That's why a broad Florida headline — or an automated estimate by itself — may not give you the full picture.
Thinking about selling? Understanding value is only one part of the decision. Learn more about selling a home in Palm Beach County , including the role of pricing, presentation, marketing and timing.
Palm Beach County and Martin County are made up of many different cities, communities and neighborhoods.
The market conditions affecting one area or property type may be different from those affecting another.
Understanding the activity closest to your home can provide better context when you're deciding whether to sell, stay, improve the property or simply keep an eye on your equity.
If the Amendment 3 conversation has you wondering about your property, start with the number that matters to your real estate decisions: what your home could be worth in today's market.
Your home's value depends on more than a tax assessment. Understanding recent sales, current competition and activity in your specific submarket can provide a clearer picture of where your home may stand.
Find Out What My Home Is WorthHome-value information is an estimate based on available property and market information and is not an appraisal or a guarantee of a future sale price.
Understanding your home's current position can be useful long before you put a sign in the yard.
Knowing your home's potential market value can help you begin evaluating the financial side of your next move.
A current market review can give you a starting point for understanding how your home's potential value has changed with the market.
You do not need to be ready to sell. Knowing what is happening around your home can help you make more informed decisions when the time is right for you.
No. Amendment 3 is scheduled to be considered by Florida voters in the 2026 general election. It is a proposal and should not be treated as current constitutional law.
The proposed constitutional changes are scheduled to take effect January 1, 2027 if Amendment 3 receives the voter approval required for a Florida constitutional amendment.
For qualifying people who maintained permanent Florida residence by December 31, 2026 and have established or later establish homestead, the proposal provides a non-school property-tax exemption of up to $150,000 of assessed value beginning in 2027 and up to $250,000 beginning in 2028. The proposal provides for positive inflation adjustments beginning in 2029.
The proposal provides different rules for people who establish permanent Florida residence on or after January 1, 2027. Those who establish homestead would initially receive an exemption of up to $50,000 of assessed value from non-school levies. Beginning with the fifth year of the exemption, they could qualify for up to the exemption available to qualifying earlier residents, subject to the proposal's provisions.
The increased homestead exemptions described in the proposal apply to non-school property-tax levies. School district levies are treated separately under Florida's constitutional property-tax provisions.
The proposal would reduce the annual assessment-growth cap for certain non-homestead residential and nonresidential real property from 10% to 5%, beginning January 1, 2027 if approved.
There is no way to conclude from the amendment alone that a particular home's market value would increase or decrease. Property-tax assessments and real estate market value are different concepts. Market value depends on the property and current market conditions, including comparable sales, competition and buyer activity.
Not necessarily. Assessed value is used for property-tax purposes. A home's potential selling price is evaluated in the context of current real estate market conditions and the characteristics of the individual property.
Real estate conditions can vary by city, community, property type and price range. Recent comparable sales, current competition, buyer activity and the individual characteristics of your home can all provide important context when estimating potential market value.
A local home-value review can consider recent comparable sales, current competition, property features, condition and activity in your specific market. Use the home-value link on this page to get started.
Get a clearer picture of your home's potential market value and the real estate activity that matters in your local market.
Find Out What My Home Is WorthOfficial Amendment 3 information: Amendment information on this page is based on official Florida legislative and election information available as of September 2026. Review the Florida Senate's CS/HJR 1-F summary and the Florida Division of Elections Amendment 3 information for official information about the proposal.
This page is provided for general educational and real estate informational purposes. It is not legal, tax, accounting or financial advice. Property-tax circumstances vary by property and owner. For advice regarding your individual tax situation, consult an appropriate qualified professional.
For information about local real estate, explore Palm Beach County real estate or visit Treu Group Real Estate .
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