Florida homeowner update

Florida Amendment 3 Passed: What Homeowners Should Know

A larger homestead exemption could make owning a Florida home more affordable. See what changes, explore homes, and estimate the taxes that fit your budget.

Buena Vista Lending Group, LLC · November 4, 2026 · About a 4-minute read

Florida voters approved Amendment 3 on November 3, 2026, according to unofficial state results. Starting in 2027, it offers qualifying homestead owners a bigger break on non-school property taxes. For buyers, that could improve the long-term cost of owning a home.1–2

The changes at a glance

  • 2027: The homestead exemption for non-school property taxes rises to as much as $150,000 of assessed value.
  • 2028: It rises to as much as $250,000, with inflation adjustments beginning afterward.
  • Other properties: The annual assessment increase cap falls from 10% to 5% for qualifying non-homestead property.
  • Timing: The amendment takes effect January 1, 2027. It does not lower the 2026 tax bill; the first expected effect is on 2027 notices and bills.2–3
Important distinctionThe $150,000 and $250,000 amounts are exemptions from taxable assessed value for non-school taxes, not cash payments or guaranteed savings. School taxes and non-ad valorem charges remain.

Thinking about buying? Start looking.

A lower future property-tax bill can make the ongoing cost of homeownership more manageable. That is a good reason to revisit your budget and see what homes may fit. You do not need to wait for the first 2027 bill to begin exploring.

  • Shop with a full payment in mind: Include the mortgage, property taxes, insurance, and other ownership costs.
  • Get a purchase-specific tax estimate: The seller’s bill can reflect exemptions and assessment limits that may not transfer to you.5
  • Check when you can qualify: A purchase after January 1, 2027, may first qualify for homestead in a later tax year.

Amendment 3 may create more room in a buyer’s budget, but actual taxes, insurance, loan terms and eligibility determine what a home will cost you.

Why it matters beyond a purchase

  • Potentially lower non-school taxes for qualifying homestead owners, leaving more room for repairs, insurance or savings.
  • More predictable long-term planning through the 2028 increase and later inflation adjustments.
  • Slower assessment growth for qualifying second homes, rentals and commercial property under the new 5% cap. That cap does not limit tax rates, bills or rent.

The amendment also allows a path for possible additional local homestead exemptions. Those require future action and are not automatic.2

Who can get the larger exemption?

  • Already have homestead? If you qualify, the larger exemption is expected to apply automatically in 2027. Check your property record and proposed-tax notice.3
  • Lived in Florida by December 31, 2026? You could have been renting. Buy later, apply for homestead, and you may receive the larger exemption once you qualify.
  • Moved to Florida in 2027 or later? Buying can still bring an immediate homestead benefit: up to $25,000 of assessed value for school taxes and $50,000 for non-school taxes, with the latter adjusted for inflation from 2028. The larger non-school exemption begins in your fifth year with homestead. Years spent renting do not count toward that period.2–3

New homeowners apply through the county property appraiser. Generally, you must own and permanently live in the home on January 1 and file by March 1 for that tax year. Local rules may shorten the waiting period beginning in 2030, and implementation or legal decisions may affect the details; confirm your timeline with the property appraiser.2–4

See your estimated tax impact

The Palm Beach County Property Appraiser’s official calculator estimates the effect of the larger exemption for Palm Beach properties that already receive homestead. It is a starting point, not a purchase estimate or a guarantee. It does not calculate the separate 5% cap.3

How to see the numbers: Type an address or owner name, then choose the matching property from the search suggestions. The results appear after you select a property. Scroll inside the calculator panel if needed.

Open the full-size calculator

The full county page is shown in the panel above. If the results are clipped or the search does not respond, use the full-size link above.

Shopping for a home or looking outside Palm Beach? Ask the local property appraiser for a property-specific estimate. Future rates, assessed value and exemptions can change. A tax change may later affect a mortgage escrow payment after the servicer’s review.5–6

Ready to see what is possible?

Start looking at homes with a realistic full-payment budget. Buena Vista Lending Group, LLC can help you connect the tax estimate to your next move.

Use the tax calculatorTalk through a buying budget

Sources and important notes

  1. Florida Department of State, unofficial 2026 election-night amendment results
  2. Florida Department of State, Amendment 3 official summary and full text
  3. Palm Beach County Property Appraiser, approved Amendment 3 calculator and FAQ
  4. Florida Department of Revenue, homestead application and eligibility
  5. Florida Department of Revenue, first-time Florida homebuyer property-tax guide
  6. Consumer Financial Protection Bureau, changes in mortgage escrow payments

Updated November 4, 2026. Election totals were unofficial at publication. This is general educational information, not a tax estimate, legal advice or a promise of savings. Eligibility and actual taxes depend on the property and future rules and rates. Equal Housing Opportunity. Buena Vista Lending Group, LLC | NMLS #347423.

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