Florida voters approved Amendment 3 on November 3, 2026, with about 62% of the vote (unofficial results). If you have homesteaded your home for years, you get the larger exemption automatically starting with your 2027 tax bill. The savings are a fixed dollar amount, not a percentage of your home's value, so on a luxury property the relief is real but modest next to the size of the bill.
Calculate your own savings
Palm Beach County Property Appraiser Dorothy Jacks estimates the current exemption saves the average county homeowner about $800. Enter your address in the county's Amendment 3 calculator. It is built for homesteaded properties. For questions about your assessed value or Save Our Homes benefit, call the Property Appraiser's Office at 561-355-2866.
What actually passed
| Item | What changes |
|---|---|
| Homestead exemption (non-school taxes) | Rises from about $50,000 to $150,000 on the 2027 tax roll and $250,000 in 2028, then adjusts for inflation after January 1, 2029. |
| School taxes | The existing $25,000 exemption stays. The new exemption does not touch the school part of your bill. |
| Second homes, rentals, commercial | The annual cap on assessment increases drops from 10% to 5%. |
| Local spending | County and city property tax revenue must go to set purposes such as public safety, education, infrastructure, natural resources, debt service and retirement benefits. |
| New residents | Anyone who was not a Florida resident on December 31, 2026 gets the current exemption first, and the increased one begins in their fifth year of exemption. Counties and cities can shorten that wait by a two-thirds vote. |
| Down the road | The amendment directs the Legislature to set a schedule to reduce remaining non-school homestead taxes over time. That needs future legislative action and is not automatic. |
Implementing legislation is expected in the 2027 session, so some details, especially on residency, are still to be written.
What it means for you
You qualify now. Owners who were Florida residents on December 31, 2026 get the expanded exemption beginning in 2027. If your homestead is already on file, you should not need to file anything new.
You will almost certainly get the full exemption. It comes off your assessed value. Under Save Our Homes, a long-time owner's assessed value sits well below market, but for a $1 million-plus home it is almost certainly still above $250,000.
The dollars are the same for every homestead. Savings equal the added exemption times your non-school millage rate. A $1.5 million owner and a $600,000 owner save about the same. For someone whose bill approaches $20,000, a $2,700 savings is roughly 13%.
A lower taxable value is not a guaranteed lower bill. Cities, the county and special districts still set their own millage rates. Palm Beach County's administrator estimated the county could lose close to $250 million once the amendment is fully in effect.
Timing. Your November 2026 bill is unchanged. The first effect is on the 2027 roll. Watch your August 2027 TRIM notice and the September budget hearings, where millage rates are set.
Second homes and rentals. No exemption, but the 5% cap helps. Critics warn non-homestead owners could carry a larger share of the cost over time.
Buying, selling and moving
Supporters, including Florida Realtors, say the lower carrying cost supports homeownership. Two details matter if you are thinking about a move. Buyers relocating from out of state wait until their fifth year of exemption for the larger amount, though counties and cities may shorten that. Established Floridians buying a first homestead later are expected to qualify, but the legislative language leaves implementation questions for 2027.
When a home sells, the buyer's assessed value resets to current market value, so your Save Our Homes cushion does not pass to the next owner. That is true with or without Amendment 3.
The case for and against
Supporters say tax bills have climbed with values and homeowners deserve relief. They note local property tax collections have nearly doubled in seven years.
Opponents, including the Florida Sheriffs Association and many county and city officials, call it a tax shift rather than a tax cut. They warn of pressure on public safety, libraries and children's services, and say landlords may pass costs on to renters. A legislative analysis put the statewide revenue reduction at nearly $5 billion in 2027-28, growing to about $11.8 billion a year once fully in place.
What to do now
| Next steps |
|---|
| Confirm your homestead exemption is active with the Palm Beach County Property Appraiser. |
| Run your address through the county calculator. |
| Do not change your residency or homestead status without advice. Rules for new residents and first-time filers are still being finalized. |
| Watch your city and county budget hearings in September 2027. |
| Check with your CPA or attorney about your own situation. |
Curious how this affects your home's value or the right timing for a sale? Call or text Ricky at 561-212-0111 or email Ricky@rickyestera.com.
This article is general information, not tax or legal advice. Results are unofficial and implementing legislation is still to come. Please confirm details with the Property Appraiser and a CPA or attorney.
Sources
- Florida Chamber of Commerce: Amendment 3
- CBS12: Amendment 3 passes with 62%
- News4Jax: Florida voters pass Amendment 3
- Bay News 9: Voters approve Amendment 3
- Inman: Florida's proposed property tax amendment
- CBS12: What could change in Palm Beach County
- Hillsborough County Tax Collector: What Amendment 3 means
- Palm Beach County Property Appraiser: Amendment 3 calculator
