Florida voters will decide one of the largest property tax changes in the state's history this November. If it passes, the non-school homestead exemption rises from about $51,000 today to $150,000 in 2027 and to $250,000 in 2028. The state estimates that roughly six in ten homesteaded properties would owe no county or municipal (non-school) property tax at the full amount, though special assessments and other non-ad-valorem charges can still apply.
The constitutional exemption will not take effect unless voters approve it, and it would begin in 2027. But one piece is already in motion: a companion law, SB 4-F, took effect in June 2026 and changed how cities and counties calculate their maximum property tax rate, regardless of what happens in November. The mechanics of the proposal, and the residency deadline embedded in it, are worth understanding now, particularly if you're relocating, buying a Florida home, or holding rental and commercial property in the state.
How the amendment reached the ballot
Property tax reform stalled twice in Florida this year. A slate of proposals was debated during the regular legislative session, including efforts to phase out non-school homestead taxes entirely. The most prominent, HJR 203, would have eliminated them by 2037; it passed the House 80 to 30 but died in the Senate Appropriations Committee. The regular session ended in March with no measure referred to voters.
Governor DeSantis then called a special session dedicated to property tax relief. On June 2, 2026, the Legislature passed an amendment titled "Save Our Homes from Excessive Property Taxes," along with its companion bill, SB 4-F. It officially made the ballot on June 16 and appears as Amendment 3 on the November 3, 2026 general election ballot. To become part of the Florida Constitution, it needs 60% voter approval.
The exemption increase
The amendment only affects the non-school portion of a homestead's property tax bill. School district levies are unaffected regardless of the outcome.
Here's an example of how the math might work for a homestead assessed at $400,000, using a non-school millage rate of 14 mills. Actual rates vary significantly by county and taxing authority, so treat this as a framework rather than a specific projection. Note that the current combined non-school exemption is about $51,000 and is indexed to inflation, so the "today" figures are approximate:
- Today: about $51,000 exemption, roughly $349,000 taxable value, roughly $4,900 in non-school property tax
- 2027: $150,000 exemption, $250,000 taxable value, roughly $3,500, a savings of about $1,400
- 2028: $250,000 exemption, $150,000 taxable value, roughly $2,100, a savings of about $2,800 from today's bill
Starting in 2029, the $250,000 figure is indexed to inflation, so it will continue to rise in future years.
The residency cutoff that determines who benefits, and when
The amendment turns on a one-time classification rather than an annual eligibility check: whether a person maintained a permanent Florida residence as of December 31, 2026. It is based on where you maintain permanent residence, not on when you first file for homestead or on property ownership alone.
If you maintained permanent Florida residence by that date, you're eligible for the full phased exemption on schedule, $150,000 in 2027 and $250,000 in 2028. Someone who was renting in Florida on that date but can establish it as their permanent residence may still qualify. If you were not a permanent Florida resident as of December 31, 2026, you receive the $50,000 exemption for your first four years after establishing homestead, then step up to the full exemption in the fifth year. (The constitutional text frames this as a five-year residency requirement before the larger exemption applies; the practical effect is the same.)
If you're currently weighing a move to Florida, or facing a closing that could land on either side of that date, the difference between qualifying under the two schedules is worth flagging well before year end. If you're renting with plans to buy later, or you own property out of state and haven't yet made Florida your home, weigh your timing carefully against the December 31, 2026 date.
Non-homestead property faces a separate, smaller change
If you hold investment real estate, second homes, or commercial property, you won't receive the expanded exemption. However, the cap on annual growth in non-school assessed value for that property drops from 10% to 5% starting in 2027. That 5% cap applies to the non-school portion only, not to school-district taxation.
The amendment also directs how counties and municipalities can spend the property tax revenue they collect, steering it toward core public needs such as public safety, education, infrastructure, and natural resources.
Where things stand heading into November
Nothing about this is final. A simple majority isn't enough to pass a Florida constitutional amendment, so even strong voter support doesn't guarantee passage. Whether this measure clears 60% in November is genuinely uncertain at this point. If it fails, the expanded exemption does not take effect, though the SB 4-F changes to millage calculations remain law either way.
If you're weighing a move to Florida, closing on a home near the end of this year, or holding property that could be affected by the assessment cap change, the December 31, 2026 residency cutoff is worth timing carefully. RMG can help you think through where a closing date or move date falls relative to that deadline, and what it would mean either way. If you hold non-homestead property, RMG can also revisit how the lower assessment cap affects your longer-term holding and planning decisions.
Have questions about how Amendment 3 could affect your situation? Reach out to RMG and we'll help you plan around the December 31, 2026 deadline before year end.
