Florida Property Taxes and Amendment 3: What South Florida Homeowners Need to Know
I get it. Property taxes are kind of a boring topic. But right now they are the hot-button issue in South Florida, and what happens on November 3 will show up on your tax bill. You've seen the headlines. You've seen the commercials. And maybe you're wondering how this will directly impact you and your family. I'm here to give you a quick breakdown so you can be better informed and make the best decision for your situation and your best interests. I'm not going to tell you how to vote. I am going to tell you what your property taxes do today, why Tallahassee wants to scale them back, and exactly what Amendment 3 says on the ballot. Why Florida homeowners already have it good Property taxes and homestead exemptions are a big deal in Florida, and other states don't have it as good as we do. We have no state income tax, and people have moved here specifically for our tax policies and the protections that come with them. If your Florida home is your primary residence, you already get three powerful benefits: Homestead exemption. It takes roughly $50,000 off your home's taxable value: $25,000 on all taxes, plus about $25,000 more on non-school taxes. Save Our Homes cap. Your assessed value can rise no more than 3% a year (or inflation, if lower), no matter how fast the market climbs. Portability. When you sell and buy another Florida homestead, you can carry up to $500,000 of your Save Our Homes savings with you. All of these are great, if you use them. Used well, they help you build financial security, wealth and a legacy for your family. Amendment 3 would not change the Save Our Homes cap or portability. It builds on top of the exemption. What your property taxes pay for today Property taxes are the main recurring income for your county, your city and your school district. Florida has no state income tax, so this is the money that runs the services closest to your front door. Schools. A large share of your bill goes to the school district. Amendment 3 leaves school taxes alone. Public safety. Police, sheriff, fire rescue and 911. Infrastructure. Roads, bridges, stormwater and flood protection. Quality of life. Parks, libraries, transit and after-school programs. Open your TRIM notice or tax bill and you'll see each of these listed line by line, with the amount you pay to each one. Note that fees like garbage and fire assessments are not property taxes, and no exemption reduces them. Why scale them back? The two sides Home values in Florida have climbed fast, and tax bills and local government budgets climbed with them. That is the heart of the debate. The Legislature put Amendment 3 on the ballot (House Joint Resolution 1F), and it needs 60% of the vote to pass. Supporters say homeowners need relief from rising bills, and local governments need a push to control spending. The governor, the Republican Party of Florida and Florida Realtors support it. Florida Realtors has launched a statewide Vote Yes on 3 campaign. In its own words, Florida Realtors supports Amendment 3 because "affordability doesn't end at closing. The ongoing cost of homeownership matters just as much as the cost of buying a home." The association says the measure helps Floridians stay in their homes and keep more of what they earn. It also says the lower 5% cap gives more stability to property owners and to the tenants and businesses who depend on them. Opponents say the money has to come from somewhere. State economists estimate local governments would collect about $4.9 billion less in 2027, growing to about $11.8 billion a year. The Florida Democratic Party, public safety groups, and many cities and counties oppose it. Florida TaxWatch, a nonpartisan budget watchdog, recommends a "no" vote. Here in South Florida, Miami-Dade County estimates a $385 million loss in the first year. Mayor Daniella Levine Cava has said roads, flood protection, parks, libraries and transit "could all face difficult cuts." Closer to home, the Miramar Pembroke Pines Regional Chamber of Commerce opposes Amendment 3. The chamber says it supports property tax relief for homeowners, but that no plan exists to replace the lost local revenue. It warns the gap could lead to "higher sales taxes, increased millage rates on commercial properties, and expanded special fees" that land on Miramar and Pembroke Pines businesses, renters and consumers. Critics also point to tax shifting. If homesteads pay less, more of the load can fall on rentals, businesses and second homes, which can reach renters through higher rents. The exact wording on your ballot Here is what you will read in the voting booth on November 3, 2026. Ballot title: INCREASED HOMESTEAD EXEMPTION; LOWER CAP ON INCREASES IN NON-HOMESTEAD PROPERTY ASSESSMENTS. Ballot summary: This amendment increases the homestead exemption, for all non-school taxes, to $150,000 in 2027 and $250,000 in 2028, and adjusts for inflation thereafter. It requires the Legislature to prescribe a uniform procedure for counties and municipalities, for their respective levies, to increase the homestead exemption up to full assessed value, and allows special districts, subject to referendum approval, to do the same. Persons who are not Florida residents on December 31, 2026, will receive the existing homestead exemption upon qualifying for a homestead exemption, with the increased homestead exemption beginning with the fifth year of exemption, to the extent permitted by the U.S. Constitution. This amendment reduces the annual cap on assessment increases for non-homestead properties from 10% to 5%. This amendment requires counties and municipalities to use property taxes solely for public safety, education and schools, infrastructure, natural resources, bond debt service, retirement benefits for employees, and operations and administration. Other expenditures may be approved by county officers or county or municipal governing bodies unless prohibited by general law, notwithstanding Article VII, Section 9(a) of the Florida Constitution, which allows counties and municipalities to levy property taxes for their respective purposes. This amendment takes effect January 1, 2027. In plain English, it does four things: Raises the homestead exemption on non-school taxes to $150,000 in 2027 and $250,000 in 2028, then adjusts it for inflation. Cities and counties could later go further, up to the full value. Makes people who move to Florida after December 31, 2026 wait until their fifth year of homestead to get the bigger exemption. Cuts the yearly cap on assessment increases for non-homestead property (rentals, second homes, commercial) from 10% to 5%. Limits what cities and counties can spend property taxes on, with room for local officials to approve other spending. What it could mean for you The impact depends on who you are. If it passes, the first tax bills to reflect it arrive in November 2027. If you are... What Amendment 3 would likely mean A homesteaded homeowner A lower bill on the non-school portion. Florida TaxWatch estimates average savings of about $1,035 in 2027 and $2,085 in 2028. School taxes stay the same. An owner whose assessed value is under $250,000 Possibly no non-school property tax at all by 2028. Many long-time owners protected by Save Our Homes fall here. A buyer already living in Florida The full exemption once you homestead your new home. Moving to Florida in 2027 or later Today's exemption for your first four years, then the larger one in year five. An investor or landlord No larger exemption, but your assessment could rise only 5% a year instead of 10% on non-school taxes. Watch for tax rates shifting toward non-homestead property. A renter No direct savings. Your rent could feel it if your landlord's taxes rise. Everyone shares the other side of the ledger: whatever your city and county decide to cut, or charge for in other ways, to make up the difference. Before you vote A lower tax bill sounds great, and for many homeowners it would be real money. The question worth a little thought is what you get, and what you give up, in return. Pull out your TRIM notice and find your non-school taxes. That is the part Amendment 3 touches. Ask your city and county what they would cut or change if it passes. Check that your homestead exemption is filed. None of these benefits help you if you haven't claimed them. Read the amendment for yourself on your sample ballot from the Supervisor of Elections. Whichever way you vote, vote informed. And if you want to know what this means for your home, your next purchase or your investment property, reach out. I'm happy to walk through your numbers with you. This post is for general education and is not tax or legal advice. Talk with your tax professional or your county property appraiser about your specific situation. Sources Florida Chamber: Florida's 2026 Property Tax Amendment 3 (ballot title, summary, fiscal impact) Florida TaxWatch: Taxpayer's Guide for the 2026 Constitutional Amendments Pinellas County Property Appraiser: Amendment 3 FAQs Florida Phoenix voter guide: Amendment 3 CBS Miami: Miami-Dade warns of $385M revenue loss Florida Policy Institute: Amendment 3 ballot language and local fiscal impacts Tax Foundation: analysis of the Florida property tax proposal Miramar Pembroke Pines Regional Chamber of Commerce: Amendment 3 position Florida Realtors: Amendment 3 advocacy page Florida Realtors launches Vote Yes on 3 campaign
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