On Nov. 3, 2026, Florida voters will decide whether to approve Amendment 3, which would change how property taxes work in Florida. The amendment would give homeowners a larger tax break on their primary homes, potentially lowering how much they pay in property taxes.
Currently, Florida homeowners can receive a homestead exemption, which lowers the value of their home that is taxed. Amendment 3 would increase this exemption to $150,000 in 2027 and $250,000 in 2028 for property taxes that do not fund public schools.
For example, if a home has an assessed value of $300,000, a qualifying homeowner could subtract $250,000 from that amount, leaving only $50,000 subject to certain property taxes. Taxes that fund public schools would not change because of the increased exemption.
Property taxes help pay for local services such as police officers, firefighters, roads, parks, libraries and other community programs. They also help fund public schools, although Amendment 3 would not reduce school property taxes through the increased homestead exemption. If local governments collect less money, they may have to reduce services, adjust their budgets or find other ways to raise money.
The amendment would also limit how quickly the taxable value of rental properties, second homes and businesses can increase.
A vote YES means:
- Qualifying homeowners would receive a larger property tax exemption.
- Some homeowners could pay less in property taxes.
- Property taxes used to fund public schools would not be affected by the increased exemption.
- Cities and counties could receive less property tax revenue, which could affect funding for police, firefighters, parks, libraries and other local services.
- Local governments may need to adjust their budgets, reduce certain services or find other ways to raise money.
- The annual limit on assessed value increases for certain non-homestead properties would decrease from 10% to 5%, except for school taxes.
A vote NO means:
- The current homestead exemption rules would remain in place.
- Homeowners would not receive the proposed increase in the exemption.
- Cities and counties would continue collecting property taxes under the existing rules, without the revenue reduction caused by the proposed exemption increase.
- The proposed reduction in property tax revenue would not occur, helping local governments maintain their existing funding sources for services such as police, firefighters, parks and libraries.
- The current 10% limit on annual assessed value increases for certain non-homestead properties would remain in place.
Amendment 3 could affect homeowners, renters and businesses across Florida. While some homeowners could save money on property taxes, local governments could have less funding for public services. Renters would not directly receive the larger exemption, but experts say changes in property taxes could indirectly affect their expenses.
Florida voters will decide whether to approve the amendment on Nov. 3. At least 60% of voters must vote yes for it to pass.
Editor’s Note: This article was written by The Bear Print’s faculty adviser to provide students with a neutral, informational overview of Amendment 3 ahead of the 2026 midterm election.
