Florida Property Tax Amendment 3: What Prospective Home Buyers Should Know Before the End of 2026
Florida voters will consider a proposed constitutional amendment concerning property taxes on November 3, 2026. Known as Amendment 3, the proposal could provide a significantly larger homestead exemption for qualifying Florida homeowners—but it has not yet been approved.
For people already considering a move to Sarasota, Bradenton, Lakewood Ranch or Parrish, the proposal makes it especially important to understand how residency timing could affect future eligibility.
What would Amendment 3 change?
If approved by at least 60% of voters, Amendment 3 would increase the homestead exemption applicable to non-school property taxes:
- Up to $150,000 beginning in 2027
- Up to $250,000 beginning in 2028
- Inflation adjustments beginning thereafter
The proposal would not eliminate every property tax. School-related property taxes would remain, and a homeowner’s actual savings would depend on the property’s assessed value, applicable exemptions and local tax rates.
Amendment 3 would also reduce the annual assessment-increase cap on qualifying non-homestead properties from 10% to 5%, excluding school-district taxes.
Why could December 31, 2026, matter?
The proposed ballot language distinguishes between people who are Florida residents on December 31, 2026, and those who establish Florida residency afterward.
Under the proposal, people who are not Florida residents on that date would receive the existing homestead exemption after qualifying but would generally not receive the expanded exemption until their fifth year of exemption.
This does not mean that simply purchasing a Florida home before December 31 automatically guarantees the expanded benefit. A buyer would need to meet Florida’s ownership, primary-residence and homestead-eligibility requirements. Residency is based on the homeowner’s individual circumstances—not merely the date a purchase contract is signed.
A potential benefit for people already planning to move
For buyers who are independently considering making Florida their primary residence, completing their move and establishing residency before the end of 2026 could potentially affect when they become eligible for the expanded exemption if Amendment 3 passes.
Because the proposal remains subject to voter approval, buyers should not make a purchase solely in anticipation of a future tax benefit. The amendment could be rejected, implementing rules could affect its application, and individual eligibility and savings will vary.
Considering a move to Florida?
If Sarasota, Bradenton, Lakewood Ranch or Parrish is already part of your relocation plan, we can help you explore available homes and understand the local real estate market before the end of the year.
For advice regarding Florida residency, homestead eligibility or potential property-tax savings, buyers should contact the appropriate county property appraiser, a qualified Florida attorney or a tax professional.
This information is provided for general educational purposes only and is not legal, tax or financial advice. Amendment 3 has not yet been approved, and no particular tax outcome or eligibility is guaranteed.
For more information, review the official Orange County overview of Amendment 3 and the full amendment summary and ballot language
Matt & Jenny Cannon
Coldwell Banker