Florida Homeowners
Amendment 3 passed: what the bigger homestead exemption means for you
· Adam Eglin, Realtor®
Somewhere in Broward right now, a house just heard about Amendment 3 and asked for a raise. Fair enough. Florida voters approved it on November 3 with about 62% of the vote (it needed 60%), and it's one of the bigger changes to homestead property taxes in a long time.
So let's skip the tax-code jargon and talk about it the way you'd explain it to your cousin from up north who keeps asking if he should finally make the move. What changes, who benefits, and why one date, December 31, 2026, keeps coming up.
The headline: your homestead exemption gets a serious upgrade
Today, a Florida homestead gets roughly $50,000 of its assessed value exempted: the first $25,000 from all property taxes, and a second exemption of about $25,000 that applies only to non-school taxes. Amendment 3 makes the non-school side a lot bigger:
- 2027: the homestead exemption for non-school taxes rises to $150,000 of assessed value.
- 2028: it rises to $250,000, and after that it's adjusted for inflation.
- School taxes keep the current $25,000 exemption, so that part of your bill works the way it does now.
Non-school taxes are the county, city and special-district lines on your tax bill. In most of Broward, that's the bigger share of the bill. The change takes effect January 1, 2027, and first shows up on the 2027 tax roll, according to the Florida Department of Revenue's bulletin.
Save Our Homes still caps how fast a homestead's assessed value can rise each year, at 3% or inflation, whichever is lower. Amendment 3 doesn't change that. It just shrinks the part of the value that gets taxed for non-school purposes.
A quick worked example (calculator optional)
Here's a simple, made-up example using real 2026 tax rates. Picture a homestead in the City of Fort Lauderdale with an assessed value of $400,000.
- The Broward County Property Appraiser's millage table lists a 2026 total rate of 18.4026 mills for Fort Lauderdale (code 0312).
- Broward Schools' school tax fact sheet puts the 2026 school rate at 6.4527 mills.
- That leaves about 11.95 mills of non-school tax. One mill is $1 for every $1,000 of taxable value.
Today, about $50,000 of that home's value is exempt from non-school taxes. In 2028 it would be $250,000, so about $200,000 more is shielded. At 11.95 mills, that's roughly $2,390 a year less in non-school taxes. In 2027, with the exemption at $150,000, it's about $100,000 more exempt, or roughly $1,195.
Real life will be messier than the example. Millage rates change every year, your assessed value moves, and the exemption can't be more than the home's assessed value. Your own number lives on your TRIM notice and your property appraiser's website.
Rentals and second homes get a little love too
If you own property that isn't your homestead, like a rental, a second home or a small commercial building, Amendment 3 lowers the cap on how much its assessed value can go up each year from 10% to 5% (school taxes aside). That won't make a tax bill shrink, but it can keep it from jumping as fast in a hot year. For investors running the numbers on a duplex or a small multifamily, it's one more line worth modeling. My investor page has a deal analyzer if you like spreadsheets as much as I do.
Why December 31, 2026 matters
This is the part people ask me about most. Under the ballot language, people who weren't Florida residents on December 31, 2026 still get a homestead exemption once they qualify, but it's the existing one (about $50,000) at first. The larger exemption kicks in starting with their fifth year of homestead exemption.
People who were already Florida residents on that date get the bigger exemption as soon as they qualify for homestead. Using the example above, that gap could be worth a couple thousand dollars a year for the first four years. So if a move to Florida is already on your list, the timing is worth a conversation.
The fine print: it's about residency, not buying
Here's the twist that surprises people: the December 31 date is about being a Florida resident, not about owning a home. You don't need to close on a house by New Year's Eve. You need to actually live here. Renters can count, and you can buy later.
Residency comes from really moving here and making Florida your permanent home. Common ways people show it include:
- Getting a Florida driver's license or ID card.
- Registering to vote in Florida.
- Filing a declaration of domicile with your county's Clerk of Court.
The homestead exemption itself is a separate step. You generally need to own the home and make it your permanent residence by January 1 of the tax year, then apply with your county property appraiser, usually by March 1.
One more honest note: the Legislature still has to pass implementing law, and the amendment applies its new-resident rule "to the extent permitted by the U.S. Constitution." So some details could still be clarified or change. I'll update this post if they do.
So what should you actually do?
- Already a Florida homeowner with homestead? You're set. Watch for your 2027 TRIM notice next August to see the new exemption.
- Living here but renting? Make sure your residency paperwork is in order. When you're ready to buy, my MLS Search page lets you browse on your own.
- Planning a move? Talk with a tax pro about what residency means for you, and read my notes on comparing insurance and HOA costs in Broward while you're at it.
Curious about a specific neighborhood? Start with my guides to Wilton Manors, Oakland Park, Pompano Beach and Galt Ocean Mile, or see my current listings.
Sources: Florida Department of Revenue, PTO Bulletin 26-21 (Nov 5, 2026); Florida Division of Elections results and full text; Broward County Property Appraiser millage rates; Broward County Public Schools, Facts About Your School Taxes 2026-27.
Not tax or legal advice; check with your county property appraiser or a tax pro. The worked example is a simplified illustration, not an estimate for any specific property.