Florida Amendment 3 passed: what does it mean for Southwest Florida homeowners?

Yes, Florida Amendment 3 passed. Voters approved it on November 3, 2026 with about 62% in favor, above the 60% needed to change the state constitution. For homeowners with a primary residence, the homestead exemption on non-school property taxes rises to up to $150,000 in 2027 and $250,000 in 2028, with inflation adjustments after that. Today the total homestead exemption is worth up to $51,411. For second homes, rentals, commercial property and vacant land, the annual cap on assessed-value increases drops from 10% to 5%. School taxes are not affected, and the results are unofficial until they are certified.

What exactly changed with Amendment 3?

Here is the short version, based on the Pinellas County Property Appraiser's official Amendment 3 FAQ and reporting from News Service of Florida, the Associated Press and Bay News 9:

• Homestead exemption: Today a primary residence gets up to $51,411: $25,000 off all taxes, including school taxes, plus $26,411 off non-school taxes. Under Amendment 3, the non-school part rises to up to $150,000 on January 1, 2027 and $250,000 on January 1, 2028, with annual inflation adjustments starting in 2029. The $25,000 school exemption does not change.
• Non-homestead cap: The yearly cap on assessed-value growth for non-school taxes falls from 10% to 5%. This covers second homes, rental properties, commercial property and vacant land.
• School taxes: Not affected. School taxes stay uncapped and based on market value.
• Save Our Homes: Still in place. Assessed value on a homestead can still rise by no more than 3% or the rate of inflation, whichever is less.
• Timing: The changes take effect January 1, 2027. They first show up on August 2027 TRIM notices and on the tax bills mailed in November 2027.

It does not eliminate property taxes, and it does not wipe out your whole bill. As we explained in our earlier post on the ballot measure, it focuses on the non-school portion: city, county and special district taxes.

How much could a homeowner save?

It depends on your home and your local tax rates. One real estate executive quoted by Bay News 9, Craig Kincheloe of the Kincheloe Group, estimated savings of about $1,300 on the 2027 bill and about $2,700 in 2028 and beyond for eligible homeowners. That is one estimate from the Tampa Bay area, and Southwest Florida rates are different. He also said it may be “a tax shift instead of a tax cut,” because local governments will need to adjust.

What if you're a second-home owner, snowbird or investor?

You do not get the larger exemption, because it applies to a primary residence. What you get is the lower cap: assessed value on a non-homestead property can now rise by no more than 5% a year instead of 10% for non-school taxes. School taxes on those properties stay uncapped. The cap limits increases in assessed value, not tax rates or the total tax bill. If your property is worth more each year, your bill can still go up, just more slowly.

What about people moving to Florida?

This is the part relocating buyers should read carefully. According to the Pinellas County Property Appraiser's FAQ, the larger exemption applies to owners who are permanent Florida residents as of December 31, 2026. If you are a resident by that date but buy your home later, you still get the higher amount when you buy and apply. If you become a Florida resident on or after January 1, 2027, you first get a $50,000 exemption on non-school taxes. The larger exemption starts on January 1 of your fifth year, after you have kept a Florida homestead exemption for four years. Confirm your own dates with the Lee or Collier County Property Appraiser before you plan around them.

What happens to Lee and Collier County budgets?

That is the question local governments are asking now. In September, Lee County staff told commissioners the county would need to cut $121 million in 2027-28 and $159 million the following year if Amendment 3 passed, measured against a current general fund of $766 million. Lee County Commissioner Brian Hamman compared the cuts to a $100,000 salary dropping to $80,000 and then to $74,000, and Commissioner Cecil Pendergrass said it would still come back as fees and taxes. Options staff presented included more special taxing districts, higher user fees, bonds, a higher tax rate, and service reductions.

Statewide, Florida's Revenue Estimating Conference projected the amendment could eventually reduce local government revenue by nearly $12 billion a year. News Service of Florida noted that the measure does not automatically require any city or county to cut a specific program, because those decisions come from local budgets. Expect those budget conversations to begin in 2027.

Amendment 3 changes the tax rules. It does not change mortgage rates, insurance costs or home prices, and those will still drive affordability.

What does this mean if you're buying in Southwest Florida?

Property taxes are part of your monthly payment, so a larger exemption can matter for a buyer who will use the home as a primary residence. When a home sells in Florida, its assessed value generally resets to market value, so the previous owner's tax bill is not a reliable guide to yours. The timing also matters: the exemption comes with a homestead application, so ask your agent and the property appraiser about the filing deadline for your purchase date. How the amendment affects prices is not something anyone can say yet.

What does this mean if you're selling?

The buyers who see your listing will be looking at estimated taxes, and many will be asking what changes in 2027. Be ready with accurate information instead of guesses, because both the exemption and the new-resident rule depend on the buyer's situation. If you are weighing a move, our guide to Save Our Homes portability explains what you can take with you, and our guide to reading your TRIM notice shows where these changes will appear on your bill.

How would we use this if you called us?

We would start with your situation instead of the headline, because the amendment treats a primary residence, a second home and an investment property differently. We would look at the tax rates for your exact address and whether you will be a permanent Florida resident by the cutoff date. For a buyer, we would estimate the first-year taxes after a purchase, not just the seller's bill. For a seller, we would check how your tax picture will look to the next buyer. We also keep an eye on how Lee and Collier County budgets develop, since that is where the real trade-offs will show up. That is the work that happens before a decision, and it is the part a news article cannot do for you.

What this post does not tell you

Election results are unofficial until certified, and the details in this post come from news reports, which differ slightly in what they cover. We are real estate agents, not tax attorneys or accountants, so this is general information and not tax or legal advice. Check your own situation with the Property Appraiser in your county and with your tax professional. We can help you gather the questions to ask.

Frequently asked questions

Did Florida Amendment 3 pass?

Yes. Florida voters approved Amendment 3 on November 3, 2026. News Service of Florida and Bay News 9 reported about 62% in favor, above the 60% needed to amend the constitution. Results remain unofficial until they are certified.

When will my property tax bill go down?

The changes take effect January 1, 2027. They first appear on August 2027 TRIM notices and on tax bills mailed in November 2027. The amount depends on your home's value and your local tax rates, so it will not be the same for every homeowner.

Does Amendment 3 help second-home owners and investors?

Not with a larger exemption, because that applies to a primary residence. For second homes, rentals, commercial property and vacant land, the amendment lowers the annual cap on assessed-value increases for non-school taxes from 10% to 5%. That limits how fast the assessed value can rise. It does not cut tax rates or the total bill, and school taxes stay uncapped.

Sources: Pinellas County Property Appraiser, Amendment 3 FAQ; Bay News 9, Florida voters approve Amendment 3 (November 4, 2026); CBS12 / News Service of Florida; Associated Press via Yahoo News and WFTV (November 4, 2026); News4Jax; WGCU, Lee commissioners on projected deficits (September 4, 2026); WTXL, state economists' estimate (July 14, 2026).