Florida homeowners are about to see one of the biggest property tax changes in the state's history. On November 3, voters approved Amendment 3 with roughly 62% of the vote, according to the Associated Press, clearing the 60% supermajority needed to change the Florida Constitution.
The headline: the homestead exemption on non-school property taxes climbs to $250,000 by 2028, up from a 2026 maximum of $51,411. The first changes take effect January 1, 2027. Here is what that means if you own, are buying, or are moving to a home in Florida.
The New Exemption
The exemption grows in two steps, then keeps pace with inflation.
Year
Homestead exemption (non-school taxes)
2026 (current) Up to $51,411
2027 $150,000
2028 $250,000
2029 onward $250,000, adjusted for inflation
One point that often gets lost: these are exemptions from your home's taxable value, not cash payments. A $250,000 exemption lowers the value your non-school taxes are calculated on; how much you actually save depends on your home's assessed value and your local millage rates.
Who Benefits
Primary residences get the biggest break. Homesteaded properties, meaning the home you own and live in as your permanent Florida residence, receive the larger exemption.
Second homes and rentals get relief too, just a different kind. They don't qualify for the homestead exemption, but the cap on how much their assessed value can rise each year drops from 10% to 5%. For investors and seasonal owners, that means slower, more predictable growth in their tax bills.
What Stays the Same
Amendment 3 changes a lot, but several familiar protections are untouched.
- School taxes still apply. The separate $25,000 exemption on school taxes is unchanged.
- Save Our Homes and portability remain. The annual cap on homestead assessment increases stays in place, and you can still carry your accumulated savings (up to $500,000) to a new Florida homestead.
- Other exemptions continue. Veteran, senior, and disability exemptions remain unchanged.
Moving to Florida? Timing matters
The key date is December 31, 2026. If you're a Florida resident by then and qualify for a homestead, you're in line for the larger exemption as it phases in. That includes future buyers, not just current owners.
If you become a resident after that date, the increase phases in more slowly:
- First four years: you receive the existing homestead exemption.
- Year five onward: the increased exemption begins.
For anyone weighing a move to South Florida, establishing residency before year-end could make a real difference over the first several years of ownership.
What it means for local governments
The amendment also sets rules for how counties and cities spend property tax revenue. They must direct it toward public safety, education, infrastructure, natural resource and flood control projects, local bonds, employee retirement benefits and government operations. It also asks the Legislature to create a process letting counties and cities raise the homestead exemption further on their own levies.
The measure had vocal critics. The Florida Sheriffs Association, the Florida League of Cities, the Florida Association of Counties and Florida TaxWatch opposed it, warning that lower revenue could strain local services. Supporters, including Republican gubernatorial candidate Byron Donalds, argued it delivers meaningful relief to homeowners. How local budgets adjust will become clearer as counties plan for 2027.
What to do next
If you already have a homestead exemption, you likely don't need to do anything. The Palm Beach County Property Appraiser's Office, for example, says current recipients don't need to reapply; check with your own county's appraiser to confirm. First-time buyers still need to apply and meet the usual eligibility rules.
Curious what this means for your property? Estimate your potential savings with the state's calculator at saveourhomesfl.com, or reach out to your LUXE agent to talk through buying or selling in South Florida.
