Florida’s Amendment 3 passed on November 3, 2026, with approximately 62% of the vote. It makes significant changes to Florida property taxes beginning January 1, 2027.

Here are the facts, including several important provisions for homeowners, buyers, and investment property owners.

1. Homestead exemption increases

The exemption applies to the property’s assessed value, not directly to the tax bill. The $25,000 exemption for school district taxes remains separate.

The exemption is per qualifying homestead property, not per person. A married couple does not receive two $250,000 exemptions on the same home.

2. The December 31, 2026 residency deadline

This is particularly important for buyers.

• Existing Florida residents as of December 31, 2026: Can qualify for the expanded exemption when they establish an eligible homestead.

• People becoming Florida residents after December 31, 2026: Generally receive the existing exemption initially and must wait until their fifth year of homestead exemption eligibility to receive the expanded amount.

• The residency restriction is subject to the U.S. Constitution and could be affected by legal challenges or implementation guidance.

Importantly, the amendment distinguishes Florida residency from homeownership. Someone already living in Florida who purchases a home in 2027 is not automatically subject to the five-year waiting period simply because they did not own a home on December 31, 2026.

3. Changes for rental and commercial properties

Amendment 3 also reduces the annual cap on increases in assessed value for qualifying non-homestead properties.

This applies to qualifying rental, second-home and commercial property assessments, excluding school district taxes. It limits annual assessment increases; it does not guarantee that property taxes cannot rise more than 5%.

4. Example of potential homeowner savings

Assume a Florida primary residence has a $400,000 assessed value and a non-school property tax rate of 10 mills (1%).

In this simplified example, annual savings reach $2,000 in 2028 compared with 2026.

Actual savings depend on local millage rates, assessed values, other exemptions and applicable assessments.

5. Other provisions

Amendment 3 also establishes rules governing how counties and municipalities use property tax revenue, including specified uses such as public safety, infrastructure, education, natural resources, debt service and government operations. It also provides procedures for potentially expanding certain local exemptions further.

The principal concern raised by opponents is reduced funding for local government services. Supporters emphasize property tax relief and greater limits on government spending.

You can review the official amendment summary through the Florida Department of State.

Suppose someone has lived in Florida for ten years but is currently renting. They purchase a home in March 2027.

Based on the amendment’s residency language, that buyer should be eligible for the expanded exemption without waiting five years, provided they establish a qualifying homestead. Documentation and implementation procedures will matter.

Would you like me to examine the exact eligibility rules for existing Florida residents who are currently renting, first-time buyers, and people moving here from another state? That distinction could be especially important when explaining Amendment 3 to your buyers.

For your real estate buyers, the most important distinction in Florida’s newly approved Amendment 3 is whether someone was a Florida resident by December 31, 2026 — not whether they owned a home by that date.

I checked the official amendment language and the November 3 election reporting. Here’s how the rules apply to different buyers.

Amendment 3: Buyer eligibility scenarios

These examples assume the buyer satisfies the usual homestead ownership and permanent-residence requirements.

What happens to a new Florida resident?

Consider someone moving from New York who buys a Florida primary residence in 2027 and qualifies for homestead that year.

The amendment specifies the fifth year of homestead exemption eligibility, rather than simply five years after buying the property. The residency restriction is also expressly subject to the U.S. Constitution.

How does a buyer prove Florida residency before December 31, 2026?

The amendment establishes the residency cutoff but does not itself provide a complete documentary checklist.

Evidence that may help establish permanent Florida residency includes:

• Florida driver’s license or identification card

• Florida voter registration

• Florida vehicle registration

• Florida lease and utility records

• Other evidence demonstrating Florida as the person’s permanent home

Important: Merely obtaining a Florida driver’s license does not necessarily establish permanent residency. The person’s actual circumstances matter, and property appraisers will need implementation guidance.

Important dates for buyers:

A buyer who purchases in March 2027 would ordinarily first qualify for homestead in 2028, assuming they own and permanently occupy the property on January 1, 2028. The December 2026 residency cutoff still determines which expanded-exemption rules apply.

One particularly important point.

The amendment does not require someone who has lived in Florida for years to have owned a home before December 31, 2026.

That means a long-term Florida renter who purchases a primary residence in 2027 should not face the five-year restriction solely because they are a first-time buyer.

The remaining uncertainty is exactly how county property appraisers will verify pre-2027 permanent residency and how the Legislature will implement the amendment.

Official source: Florida Department of State — Amendment 3

Official Source: For additional information, including the complete constitutional amendment language, visit the Florida Department of State.

Important: Florida Amendment 3 increases the homestead exemption for qualifying primary residences beginning in 2027. The expanded exemption applies to non-school property taxes only. Property taxes levied for public schools remain subject to existing exemption rules.