Florida Amendment 3 Explained: $250K Homestead Exemption, Examples (2026)
The definitive guide to Florida Amendment 3: $150K then $250K homestead exemption, 5% cap, the new-resident rule, worked dollar examples and county losses.
Short answer: Amendment 3 replaces Florida's homestead exemption with a much larger non-school exemption: up to $150,000 in 2027 and $250,000 in 2028, inflation-indexed from 2029. School taxes keep only a $25,000 exemption. Non-homestead property gets a 5% cap on yearly assessment growth (down from 10%). People who become Florida residents on or after Jan 1, 2027 start at $50,000 and qualify for the larger exemption in their fifth year.
The rules, side by side
| Rule | 2026 (before) | 2027 | 2028 | 2029 on |
|---|---|---|---|---|
| Homestead exemption, non-school taxes | Up to $51,411 | Up to $150,000 | Up to $250,000 | $250,000 + CPI |
| Homestead exemption, school taxes | $25,000 | $25,000 | $25,000 | $25,000 |
| New residents (from Jan 1, 2027), non-school | n/a | $50,000 | $50,000 + CPI | Larger exemption from year 5 |
| Non-homestead assessment cap | 10% a year | 5% a year | 5% a year | 5% a year |
| Default maximum millage | Current formula | Tied to rolled-back rate | Same | Same |
Sources: Pinellas County Property Appraiser FAQ; Florida Association of Counties summary of HJR 1-F; HJR 1-F amendment text (Florida Senate).
Worked example: taxable value for a homestead
Illustrative math applying the rules above to a long-time homesteaded owner, holding assessed value constant. Non-school taxable value is assessed value minus the exemption, never below zero.
| Assessed value | 2026 non-school taxable | 2027 non-school taxable | 2028 non-school taxable | School taxable (all years) |
|---|---|---|---|---|
| $200,000 | $148,589 | $50,000 | $0 | $175,000 |
| $300,000 | $248,589 | $150,000 | $50,000 | $275,000 |
| $400,000 | $348,589 | $250,000 | $150,000 | $375,000 |
| $500,000 | $448,589 | $350,000 | $250,000 | $475,000 |
Formula: 2026 = value − $51,411; 2027 = value − $150,000; 2028 = value − $250,000; school = value − $25,000. Same method as the Village of Palm Springs example ($300,000 home: $248,589 → $150,000 → $50,000).
Worked example: non-school tax at 12.2011 mills
Pinellas County's property appraiser illustrates savings using the 2025 countywide average non-school millage of 12.2011 mills. Applying that same rate:
| Assessed value | 2026 non-school tax | 2027 | 2028 |
|---|---|---|---|
| $200,000 | $1,813 | $610 | $0 |
| $300,000 | $3,033 | $1,830 | $610 |
| $400,000 | $4,253 | $3,050 | $1,830 |
| $500,000 | $5,473 | $4,270 | $3,050 |
Illustrative only; one mill = $1 per $1,000 of taxable value. Pinellas reports estimated savings of about $1,203 (2027) and $2,423 (2028) for a home receiving the full exemption (source). Your rate depends on your city, fire district and MSTUs. Use the calculator with your county's average.
New residents: the four-year wait
If you become a Florida resident on or after Jan 1, 2027, the non-school exemption applies to the first $50,000 of assessed value (CPI-adjusted from 2028). After you hold a homestead exemption for four years, the larger exemption starts Jan 1 of the fifth year (Pinellas County Property Appraiser). On a $400,000 home in 2028, that is non-school taxable value of $350,000 for a new arrival versus $150,000 for a long-time resident: $200,000 more taxable value (illustrative math).
The 5% cap for rentals, second homes and businesses
Illustrative: a $200,000 non-homestead assessment in a market rising 8% a year.
| Year | Market value | Assessed, 10% cap | Assessed, 5% cap |
|---|---|---|---|
| 2027 | $216,000 | $216,000 | $210,000 |
| 2028 | $233,280 | $233,280 | $220,500 |
| 2029 | $251,942 | $251,942 | $231,525 |
| 2030 | $272,098 | $272,098 | $243,101 |
| 2031 | $293,866 | $293,866 | $255,256 |
Illustrative math; actual growth varies. Cap change source: Florida Association of Counties.
What local governments lose
| Fiscal year | Estimated local loss |
|---|---|
| FY 2027-28 | $4.93B |
| FY 2028-29 | $8.71B |
| FY 2029-30 | $9.65B |
| FY 2030-31 | $10.71B |
| FY 2031-32 | $11.83B |
| 5-year total | $45.84B |
Source: Florida TaxWatch Property Tax Resource Center (Revenue Estimating Conference estimates and DOR 2025 millage, Oct 2026). County governments account for $3.20B of the first-year loss and independent special districts $432.8M. See your county's estimate.
Why fees may rise
A homestead exemption only reduces ad valorem (value-based) taxes. Non-ad valorem assessments such as fire, stormwater and solid-waste charges appear on the same bill but are not reduced by it. Counties are already discussing these options: Hillsborough is reviewing a fire assessment or MSTU, Osceola lists a higher fire assessment, and Alachua is discussing higher service fees. See the statewide tracker.
Timeline
See what changes in 2027 vs 2028 for the year-by-year detail.
Frequently asked questions
What does Amendment 3 do?
It replaces the current homestead exemption with a non-school exemption of up to $150,000 in 2027 and $250,000 in 2028, indexed to inflation from 2029, keeps a $25,000 exemption for school taxes, and lowers the non-homestead assessment cap from 10% to 5%. Sources: Pinellas County Property Appraiser, Florida Association of Counties.
Did Amendment 3 pass?
Yes. It passed on Nov 3, 2026 with about 62% of the vote; constitutional amendments need 60%. Source: The Alligator.
What is the homestead exemption in 2026, before the change?
Up to $51,411: $25,000 off all taxes including school, plus $26,411 off non-school taxes (CPI-adjusted). Source: Pinellas County Property Appraiser.
Does Amendment 3 lower school taxes?
No. Only the first $25,000 of assessed value stays exempt from school taxes, so most homeowners still get a school tax bill. Source: Palm Beach County Property Appraiser.
What happens to people who move to Florida in 2027 or later?
New residents on or after Jan 1, 2027 start with a $50,000 non-school exemption (CPI-adjusted from 2028). After keeping a homestead exemption for four years, they qualify for the larger exemption starting Jan 1 of the fifth year. Source: Pinellas County Property Appraiser.
Does Amendment 3 affect rentals, second homes and businesses?
They get no new exemption, but their assessed value can rise at most 5% a year instead of 10%. Source: Florida Association of Counties.
How much revenue will local governments lose?
The Revenue Estimating Conference figures compiled by Florida TaxWatch show $4.93B in FY 2027-28, rising to $11.83B in FY 2031-32, or $45.84B over five years. Source: Florida TaxWatch.
Can my county raise fees instead?
Non-ad valorem assessments (fire, stormwater, solid waste) and user fees are not reduced by the homestead exemption, which is why we track them. Any new assessment must be adopted at a public hearing. See our fire assessment tracker.