Amendment 3 Passes: A Major Step Toward Property Tax Relief for Florida Homeowners

Florida voters have approved Amendment 3, marking an important step toward meaningful property tax relief and greater affordability for homeowners across the state.

With approximately 62% voter approval, Amendment 3 passed the 60% threshold required for a constitutional amendment. The measure will increase the homestead exemption for non-school property taxes, putting more money back into the pockets of eligible Florida homeowners.

The passage of Amendment 3 reflects the importance of protecting homeownership and addressing the growing cost of living in Florida. As home prices, property taxes, insurance premiums and everyday expenses continue to put pressure on families, this measure represents meaningful progress toward making it more affordable to own and maintain a home in our state

What Amendment 3 Does

Beginning in 2027, Amendment 3 will increase the homestead exemption for non-school property taxes from $51,411 to:
•    $150,000 in 2027
•    $250,000 in 2028
•    Annual inflation adjustments beginning in 2029

The additional exemption applies only to non-school property taxes, protecting funding for public schools.

Amendment 3 also reduces the annual assessment increase cap on non-homestead property, including rental and commercial properties, from 10% to 5%. This change provides greater predictability for property owners and the tenants, businesses and customers who depend on them.

What Happens Next

Following the passage of Amendment 3, Gov. Ron DeSantis announced plans to call a special legislative session before leaving office in January to address implementation of the measure. The governor will coordinate with legislative leaders on scheduling, allowing newly elected lawmakers time to organize before returning to Tallahassee.

During the special session, lawmakers are expected to establish implementation procedures and consider additional measures related to property tax relief and local government finances.

Amendment 3 takes effect January 1, 2027. The upcoming legislative session will be an important next step in determining how the measure will be implemented and how local governments will address its impact.

Florida Realtors will continue to serve as a resource for lawmakers and local government leaders throughout the implementation process, providing industry expertise, sharing stakeholder perspectives and working collaboratively to help support strong communities and continued homeownership opportunities throughout Florida.