Florida voters approved Amendment 3 on November 3, 2026, with about 62% of the vote, clearing the 60% threshold required for a constitutional amendment.2,3 The measure expands the homestead exemption for non-school property taxes, lowers the assessment cap on non-homestead property and, for planning purposes, sets a residency date that matters: December 31, 2026.1
The changes take effect January 1, 2027.1 For homeowners already in Florida, the result is a larger exemption over the next two years. For those planning a move, the timing of when residency is established now carries a measurable difference.
What Changes
Larger homestead exemption. For permanent Florida residents as of December 31, 2026, the exemption from non-school property taxes rises to up to $150,000 of assessed value beginning January 1, 2027, and up to $250,000 beginning January 1, 2028, adjusted annually for inflation beginning in 2029.1
School taxes are unchanged. The expanded exemption applies to non-school levies only.1 The existing $25,000 exemption continues to apply to school taxes, so most homesteads will still receive a school tax bill.4
Lower cap on non-homestead property. The maximum annual increase in assessed value for non-homestead residential and non-residential property, such as second homes, rental property and commercial real estate, falls from 10% to 5%.1 According to the Pinellas County Property Appraiser, the lower cap applies to non-school assessed value, and school taxes on these properties remain based on market value.4
Save Our Homes stays in place. Annual assessed value increases on homesteads remain limited to 3% or the change in the Consumer Price Index, whichever is less. Portability and existing senior, veteran, disability and widow or widower exemptions are not changed.4
Why December 31, 2026 Matters
Amendment 3 creates two groups of homeowners. Those with permanent residence in Florida as of December 31, 2026 qualify for the larger exemption under the schedule above.1 Those who establish permanent residence on or after January 1, 2027 receive up to $50,000, adjusted for inflation beginning in 2028, and become eligible for the larger exemption beginning with the fifth year of the exemption.1 Beginning in 2030, a county or municipality may vote to shorten that waiting period for a critical local need.1
The Pinellas County Property Appraiser notes that residents who establish Florida residency by December 31, 2026 can qualify for the higher amount when they later buy a home and apply for homestead.4 For anyone already planning a move, establishing domicile, which can include a Declaration of Domicile, a Florida driver’s license and voter registration, before year-end may be worth reviewing with a tax advisor or attorney. Our Florida Domicile Checklist outlines the common steps.
What We Are Watching
Local governments will absorb the change. A legislative analysis estimated nearly $5 billion less in local revenue in fiscal 2027–28, with the impact growing in later years.3 The amendment also limits how counties and municipalities may use property tax revenue to listed core purposes, including public safety, schools, infrastructure and existing debt service.1 Over the next year, we will be watching how the Legislature implements the measure, how local governments set tax rates in their 2027 budgets, and whether non-property-tax fees and assessments change in response.
A lower assessment cap or a larger exemption does not by itself determine a final tax bill, since local governments continue to set millage rates each year.4 The planning principle remains the same: decisions about where and when to establish residency are most effective when they are coordinated with the rest of a household’s tax and estate plan.
Where This Fits Into a Broader Financial Plan
Moran Wealth Management is a fee-only, fiduciary adviser. We receive no commissions or product incentives. For clients relocating to or living in Florida, we coordinate domicile and property tax planning with the client’s CPA, attorney and other professionals; we do not provide legal or tax advice directly. Each professional retains responsibility for their own advice and work, and results can vary based on individual circumstances.
To discuss how Amendment 3 may affect your plans, Schedule a Complimentary Consultation.
Call 239-920-4440, or email info@moranwm.com.
Sources
[1] CS/HJR 1F (2026F) Bill Summary: Save Our Homes from Excessive Property Taxes, The Florida Senate.
[2] Florida voters approve Amendment 3, providing property tax relief for homeowners, Bay News 9.
[3] Florida Amendment 3 is approved, deciding major property tax changes for homeowners, CBS Miami.
[4] Proposed 2026 Florida Property Tax Amendment 3 (CS/HJR 1F) FAQs, Pinellas County Property Appraiser.
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