What would Florida Amendment 3 change?

The proposal would change three parts of Florida's property-tax system. It would increase qualifying homestead exemptions, lower certain assessment-growth limits, and add local spending provisions.

For eligible homesteads, the non-school exemption would cover $150,000 of assessed value in 2027. That amount would become $250,000 in 2028, with inflation adjustments starting in 2029. These figures describe exempt property value, not a cash payment or tax-bill reduction.

The proposal also requires a legislative procedure for further county and municipal homestead exemptions. Those could extend to the full assessed value for their respective levies. Special districts could increase their exemptions with referendum approval. It doesn't automatically eliminate every homeowner's entire tax bill. Read the current official summary.

Who would qualify for the larger homestead exemption?

Eligibility depends on homestead qualification and Florida residency timing. The proposal separates qualifying existing residents from people who aren't Florida residents on December 31, 2026.

For that latter group, the full text provides an initial $50,000 non-school exemption. The larger amount begins with the fifth year of exemption. The current ballot summary includes the qualification that this applies as the U.S. Constitution permits.

The text calls for uniform procedures to administer this provision. A move date alone doesn't establish someone's individual exemption eligibility. Buyers should confirm their circumstances with the county property appraiser.

Second homes and investment properties generally don't qualify for homestead exemptions. They may instead fall under the separate non-homestead assessment provisions. See Article VII, Section 6 in the proposed text.

Would my entire property-tax bill go down?

The amendment doesn't specify one savings amount for every homeowner. A bill depends on taxable value, applicable exemptions, and the rates each taxing authority adopts.

The larger exemption applies to non-school taxes. The proposal retains the $25,000 homestead exemption for school district levies. It also preserves the exception for assessments for special benefits. A larger homestead exemption therefore doesn't remove every charge associated with property ownership.

The Hillsborough County Property Appraiser explains that taxing authorities set tax rates. The appraiser determines property values. Those are separate steps in calculating a bill.

For a personal comparison, start with your property record and current tax notice. Identify the school and non-school portions separately. An exemption figure by itself can't tell you your future total payment.

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What would change for rental and commercial properties?

The annual assessment-growth limit for covered non-homestead properties would fall from 10% to 5%. This change would apply to non-school levies beginning January 1, 2027.

An assessment-growth limit isn't a limit on the total tax bill. Tax rates still matter. Changes in ownership and qualifying improvements also have separate assessment rules. The proposal retains provisions addressing those events.

Homesteaded properties have a different existing protection called Save Our Homes. It generally limits annual assessed-value increases to the lower of 3% or inflation. Exceptions include certain property changes and ownership transfers.

The proposed 5% figure belongs to the non-homestead provisions. It doesn't replace the homestead Save Our Homes limit. Sources: proposed Article VII, Section 4 and Hillsborough County’s Save Our Homes explanation.

What is known about local revenue and public services?

Legislative staff report projected reductions in local non-school property-tax revenue. These are estimates of revenue effects, not a list of adopted service cuts.

The June 16, 2026, Florida House final bill analysis reports estimated reductions of $4.95 billion in fiscal 2027–28. It reports $8.78 billion in fiscal 2028–29 and an estimated recurring impact of $11.86 billion. These are statewide figures, not a Tampa Bay household savings estimate.

The proposed text expressly permits infrastructure spending, including roads, bridges, and stormwater control. It also lists public safety, education, natural resources, debt obligations, employee retirement, and government operations. It allows other approved expenditures unless general law prohibits them.

Listing permitted uses doesn't establish a funding amount for each service. The amendment itself doesn't identify particular road projects or fire stations for closure. Alachua County’s explanatory portal states that fees, service levels, and other responses depend on future budget decisions. Those future decisions shouldn't be described as completed outcomes.

What would a yes or no vote mean?

A yes vote approves the proposed constitutional changes. A no vote rejects this amendment. It requires at least 60% approval from voters voting on the measure.

If approved, its stated effective date is January 1, 2027. The exemption amounts would then follow their separate phase-in dates. Election Day is November 3, 2026. Official election information confirms the date and approval threshold.

When reviewing an explanation, check whether it describes the amendment's text or a forecast. Also check whether a number refers to taxable value, annual taxes, or government revenue. These measures answer different questions. The Florida Chamber resource page provides the current summary and additional reference links.

What to take away

Amendment 3 would change exemptions, assessment limits, and local spending rules. The larger homestead exemption wouldn't apply to school district taxes. Personal savings and specific local budget responses aren't established by the exemption amounts alone.

Frequently Asked Questions

Does Amendment 3 eliminate school property taxes?

No. The proposed larger homestead exemption applies to non-school levies. The text retains the $25,000 homestead exemption for school district levies.

Is the $250,000 exemption a $250,000 tax savings?

No. It describes assessed property value exempt from covered taxes. Actual tax savings depend on the property and applicable tax rates.

Does the 5% assessment cap limit tax bills to a 5% increase?

No. It limits covered annual assessment growth, subject to applicable rules. It doesn't set a 5% limit on the total tax bill.

Does Amendment 3 require specific local service cuts?

The text doesn't name specific services or projects to cut. Revenue estimates don't establish which budget decisions a local government will adopt.