Amendment 3 Passed: A Bright New Chapter for Florida Homeowners and Movers

Florida homeowners just got the biggest property tax win in a generation. On November 3, 2026, voters approved Amendment 3 with about 62% support, clearing the 60% supermajority needed to amend the state constitution. The result: the homestead exemption on non-school property taxes jumps from roughly $50,000 today to $150,000 in 2027 and $250,000 in 2028.

For first-time buyers, growing families trading up, and anyone who has been putting off a move because of a bigger tax bill, this changes the math in your favor. Here is what passed, what it means for new homeowners, and why Florida's existing portability rules make this an especially good moment to make a move within the state.

What Amendment 3 actually does

Amendment 3 shields far more of your primary home's value from county, city, and special-district taxes. School taxes keep their existing $25,000 exemption, and everything you already rely on (the Save Our Homes 3% cap and portability) stays exactly as it is.

Timeline: The new exemption takes effect January 1, 2027, so the first bill that reflects it is the one mailed in November 2027. The $250,000 level applies to the 2028 tax year.

What it is worth: Real estate executive Craig Kincheloe estimates eligible homeowners will save roughly $1,300 in 2027 and about $2,700 a year from 2028 onward. Using Orange County's non-school millage as an example, a home assessed at $300,000 or more saves about $1,081 in 2027 and $2,177 a year from 2028, and a homestead assessed at $250,000 or less pays no non-school property tax at all from 2028.

Why new homeowners come out ahead

New buyers have long faced the toughest property tax math in Florida. A home purchased today is assessed at full market value, while a neighbor who bought 15 years ago enjoys a Save Our Homes cap that holds their assessment far below market. Amendment 3 narrows that gap with a flat dollar exemption that is worth the same to a buyer who closed last month as to one who closed in 2010.

Lower carrying costs from day one. Once you qualify for homestead, $150,000 (and then $250,000) of your home's assessed value drops out of the non-school tax calculation. On a $400,000 purchase, that is roughly $2,000 or more a year back in your pocket, every year, without refinancing or changing anything about the home.

Easier qualification. Lenders count property taxes in your monthly payment. A smaller escrow line can improve your debt-to-income ratio and stretch your budget to a home that was just out of reach.

Starter and mid-priced homes benefit most. Because the exemption is a fixed dollar amount, it removes a larger share of the taxable value on a $250,000 to $400,000 home than on a luxury property. The Tampa Bay Times' hypothetical examples found that newer homeowners could see some of the most noticeable discounts.

Renters who buy are included. The eligibility test is permanent Florida residency as of December 31, 2026, not homeownership. A Floridian who rents today and buys in 2027 or 2028 receives the full exemption as soon as they qualify for homestead.

Predictability for the long haul. The $250,000 figure is indexed to inflation starting in 2029, so the benefit keeps pace instead of eroding over time.

Portability: moving within Florida just got a lot easier

For years, the biggest reason Floridians stayed put was the "moving penalty." Sell the house you have owned for a decade, buy a new one, and your assessment resets to full market value. Portability softened that blow by letting you carry up to $500,000 of your accumulated Save Our Homes savings to the new homestead. Amendment 3 keeps portability fully intact and stacks a much larger exemption on top of it.

Here is how the two work together when you move:

1. Port your Save Our Homes benefit. If the new home's market value is equal to or greater than the old one, the full accumulated difference between market and assessed value transfers (up to $500,000). Downsizing transfers a proportional share. You have three tax years to use it.
2. Apply the new exemption to the ported assessment. The $150,000 / $250,000 exemption is subtracted from the already-reduced assessed value, not from market value. The two benefits compound.
3. Start the 3% cap fresh at that lower number. From there, your assessment can only grow 3% or CPI a year, whichever is lower.

A worked example. A family sells a home with a $450,000 market value assessed at $300,000 (a $150,000 Save Our Homes benefit) and buys a $600,000 home. They port the full $150,000, so the new home is assessed at $450,000. In 2028 the $250,000 exemption brings the non-school taxable value down to $200,000, a third of the purchase price. Under the old rules, that same taxable value would have been about $400,000.

Who wins:

• Growing families trading up can finally buy the bigger house without doubling their tax bill.
• Empty nesters downsizing keep their proportional savings and may pay little or no non-school tax on a modest new home.
• Job relocations across the state (Tampa to Miami, Orlando to Jacksonville) no longer mean giving up years of tax protection.
• Anyone who felt "locked in" by a low assessment now has far more room to make the move that fits their life.

The bottom line: Amendment 3 removes much of the fear that kept Florida homeowners frozen in place, and it does so without taking away a single protection they already had.

Moving to Florida? December 31, 2026 is your date

If you have been thinking about making Florida home, Amendment 3 gives you a clear reason to act this year. The full exemption schedule goes to anyone who maintains a permanent residence in Florida as of December 31, 2026. People who establish residency on or after January 1, 2027 start with a $50,000 non-school exemption (plus the $25,000 school exemption) and step up to the full amount in their fifth year of homestead.

The good news is that the test is residency, not a closing date. You do not need to have bought a home by New Year's Eve. You need Florida to be your permanent home on that day, which looks like:

• A Florida driver's license or ID card
• Florida vehicle registration
• Florida voter registration
• A declaration of domicile filed with your county
• A home or lease in your name where you actually live

Establish residency now, and you keep the full exemption whether you buy in 2027, 2028, or later. Even owners of a Florida second home can convert it to their homestead by year-end and land on the right side of the line, with no closing required.

And for those who do arrive after 2026, the picture is still bright: the Save Our Homes cap, portability, and the $25,000 school exemption apply from the first year, the $50,000 starter exemption is indexed to inflation, and the full benefit is waiting at year five. Starting in 2030, counties and cities can also shorten that wait by a two-thirds vote.

Your Amendment 3 checklist

If you are buying a Florida home:

1. Close, move in, and make the home your permanent residence by January 1 of the tax year.
2. File for homestead exemption with your county property appraiser by March 1. Many counties accept online filings.
3. If you owned a Florida homestead within the last three tax years, file the portability application (Form DR-501T) at the same time.
4. Ask your title agent and lender to estimate taxes using the new exemption so your closing figures and escrow reflect the savings.

If you are moving within Florida:

1. Request your current Save Our Homes benefit amount from the property appraiser before you list; it is the number you will port.
2. Buy at or above your old home's market value to transfer 100% of it (downsizing still transfers a proportional share).
3. File homestead and portability on the new home by March 1.

If you are relocating from another state:

1. Establish permanent Florida residency before December 31, 2026 (license, registration, voter card, declaration of domicile).
2. Talk with a tax advisor about your former state's domicile rules so the move is clean on the income-tax side too.
3. Buy when you are ready; the full exemption follows you.

A brighter outlook for Florida homeownership

Amendment 3 is a vote of confidence in the people who live here. It rewards owning your home, it lowers the barrier for the next generation of buyers, and it finally lets long-time residents move without walking away from years of protection. Combined with portability, it makes the entire state feel more open: trade up, downsize, follow the job, or move closer to family, and your tax savings move with you.

Florida already had no state income tax, year-round sunshine, and strong demand for housing. Starting in 2027, it also has one of the most generous homestead exemptions in the country. For anyone who has been waiting for the right moment to buy or move, that moment just arrived.

This article is general information, not legal or tax advice. Exemption amounts, filing deadlines, and local millage rates vary by county; confirm your figures with your county property appraiser or a qualified advisor.