Florida voters approved Amendment 3 on November 3, 2026. If your reaction was "great, what is that?", you're in good company. Here's the plain-English version: what it is, how it passed, and what it means for you.
New here? We're The Courtney Team at Coldwell Banker Vanguard Realty. We help people buy, sell, and rent homes across Northeast Florida, so when the rules on property taxes change, we pay attention.
What is Amendment 3?
It's a change to the Florida Constitution about property taxes. The Legislature put it on the ballot, and voters approved it with about 62% of the vote (unofficial until certified).
Florida requires 60% for a constitutional amendment, so winning more votes than the other side isn't enough. Amendment 3 cleared the bar with room to spare.
How it passed
A property tax bill died in the Senate during the regular session, so Governor DeSantis called a special session in June 2026. It lasted 72 hours, which is about how long most of us need to pick a paint color. The House passed the amendment 75 to 26 and the Senate passed it 30 to 9.
Then came a plot twist. A judge ruled that the ballot title, "Save Our Homes From Excessive Property Taxes," read more like a slogan than a summary and ordered it rewritten. The new title was the much less catchy "Increased Homestead Exemption; Lower Cap on Increases in Non-Homestead Property Assessments."
Voters approved it anyway.
What it does
First, a quick vocabulary note. "Homestead" is your primary home, the one you live in and have claimed for the exemption. Now the changes:
Bigger homestead exemption. The exemption on non-school property taxes rises from $50,000 to $150,000 on January 1, 2027, then to $250,000 on January 1, 2028. Inflation adjustments start in 2029.
School taxes stay put. The $25,000 school exemption doesn't change.
Lower cap for non-homestead property. Starting January 1, 2027, annual assessment increases on non-homestead property (think rentals, second homes, and commercial property) are capped at 5% instead of 10% on non-school taxes.
A new-resident rule. People who weren't Florida residents on December 31, 2026 get a smaller starting exemption (up to $50,000). The full increased exemption begins in the fifth year of exemption.
Limits on local spending. Counties and cities are directed to use property tax dollars for seven purposes: public safety, education and schools, infrastructure, natural resources and flood control, local bonds and debt, employee retirement benefits, and government operations.
The catch (a.k.a. the debate)
Less property tax from homeowners means less money for cities and counties unless something fills the gap. Florida's Revenue Estimating Conference estimates local governments will collect about $4.9 billion less statewide in 2027-28, growing to about $10.7 billion less by 2030-31.
Supporters say it gives homeowners relief when housing and insurance costs are squeezing budgets. Critics, including the Florida Policy Institute and the Tax Foundation, call it a "tax shift." Their argument: cities and counties may cut services or raise tax rates, and higher rates apply to properties that don't get the homestead exemption.
Nobody knows yet how local budgets will play out. We'll leave the crystal ball to someone else.
What it means for you
If you own a home now
If you have a homestead exemption, the bigger exemption starts January 1, 2027. Your first look at the new numbers is your August 2027 TRIM notice, the "Truth in Millage" notice from your county property appraiser. St. Johns County lists August 2027 for this, so check your own county's schedule. Bills follow in November.
Your actual bill still depends on your home's value and what your city and county do with their tax rates. The amendment changes the rules. It doesn't mail you a check. Ask your county property appraiser whether you need to do anything to claim the new exemption.
If you're planning to buy
Property tax is one line on the monthly bill, and it has a lot of company: insurance, HOA fees, and the occasional AC unit with opinions.
Two things worth knowing. The homestead exemption applies to your primary home, not a second home. And the new-resident rule means your starting exemption may depend on your residency situation, so check with the property appraiser or a tax professional before you budget around the biggest number. We're happy to walk through the monthly costs of any home you're considering.
If you rent
Amendment 3 doesn't change your lease. Your lease works the same today as it did last week.
What it does to rent in general is a different question, and nobody can answer it. The debate above is the whole story so far: some say local tax rates could rise, some say homeowner relief is the point, and no one has the final numbers. If you've been thinking about buying, the section above is for you.
If you invest or own rentals
The change that matters most for you is the 5% cap on annual assessment increases for non-homestead property, starting January 1, 2027. A cap limits how fast the assessed value can rise year to year. It doesn't freeze your tax bill, and any change in local tax rates applies to your property too, because rentals and second homes don't get the homestead exemption.
We won't hand you a projection, because anyone who does is guessing. Run your numbers with a tax professional, and keep an eye on local budget decisions.
What to do now
Homeowners: ask your county property appraiser about the new exemption. Buyers and investors: talk to a tax professional before you update your budget. Everyone else: questions about buying, selling, or renting in Northeast Florida? Reach out with any questions. #ForeverFamilyForeverHome
The Courtney Team, Coldwell Banker Vanguard Realty. Chris Courtney, Licensed REALTOR®. This post is general information, not tax or legal advice, and we don't interpret the law. Election results are unofficial until certified. Figures are as of November 6, 2026.
