Florida Voters Approve Amendment 3: What the Bigger Homestead Exemption Means for Northeast Florida Homeowners and Buyers
The short answer: On November 3, 2026, Florida voters approved Amendment 3. It raises the homestead exemption on non-school property taxes to $150,000 in 2027 and $250,000 in 2028. If you live in your Florida home and have homestead, your property tax bill, and the escrow part of your mortgage payment, should drop starting with the tax bill mailed in November 2027.
What Florida voters approved
Amendment 3 needed 60% of the vote to pass. It cleared that bar on election night, with about 62% voting yes in early unofficial results. Here’s what it changes:
- A much bigger homestead exemption on non-school taxes. Today the non-school homestead exemption is about $50,000. It rises to $150,000 in 2027 and $250,000 in 2028, then adjusts for inflation in later years.
- School taxes are not part of it. The school portion of your bill keeps the current $25,000 exemption.
- A lower cap for non-homestead property. Yearly assessment increases on rentals, second homes and commercial property drop from a 10% cap to 5%.
- What stays the same: Save Our Homes (the 3% cap on homestead assessment increases) and portability. Non-ad valorem charges such as fire, solid waste and CDD fees are not reduced.
When it starts
| Year | What happens |
|---|---|
| 2026 | No change. Your 2026 tax bill (mailed November 2026) is unaffected. |
| January 1, 2027 | $150,000 non-school homestead exemption takes effect. |
| November 2027 | First tax bill that shows the savings. |
| 2028 | Exemption rises to $250,000. |
| 2029 and later | Exemption adjusts for inflation. |
The Legislature still has to pass some implementing details, so the fine print could shift. We’ll update this post as it does.
Who benefits and who doesn’t
- Benefits: Florida residents who live in their home and have homestead filed with the county property appraiser.
- Partial benefit: owners of rentals, second homes and commercial property. They don’t get the exemption, but their yearly assessment increases are capped at 5% instead of 10%.
- Not directly affected: renters. Any effect on rent would come indirectly, through the owner’s tax bill.
Moving to Florida? Read this part
If you weren’t a Florida resident on December 31, 2026, news reports on the amendment say the larger exemption phases in for you. You start with the current exemption, and the full increase begins in your fifth year. The Legislature still has to spell out the details. If you’re relocating to Jacksonville, St. Johns, Clay or Nassau County, plan your budget on today’s exemption, not the new one, until we know more.
What it means for your mortgage payment
Most Florida homeowners pay property taxes through escrow, so this shows up in your monthly payment, just not right away.
- Nothing changes in 2026. Your current escrow is based on taxes that this amendment doesn’t touch.
- Escrow catches up after the November 2027 tax bill. Your servicer’s yearly escrow review usually recalculates your payment after it pays the new, lower bill. If you’ve overpaid by then, you may see a lower payment, a refund of the surplus, or both.
- Watch your other charges. Homeowners insurance, CDD fees and other non-ad valorem charges aren’t affected, and they can still rise.
Buying a home in 2027 or later
- Lower taxes can help you qualify. Property taxes are part of your monthly payment, and the payment drives how much home you qualify for.
- Expect conservative tax estimates at first. Until the new exemption is on the county tax rolls, lenders often estimate taxes on the purchase price without a homestead exemption. Your real bill may come in lower once you file.
- File for homestead right away. In Florida you must own and live in the home on January 1 and file with your county property appraiser by March 1 to get that year’s exemption.
Refinancing or tapping equity
A lower tax bill frees up monthly cash flow, which can help with debt-to-income on a refinance or HELOC. We’ll look at your actual tax bill and the timing before we count on any savings.
The Jacksonville angle
Before the vote, Jacksonville officials estimated the change could cost the city more than $300 million a year in property tax revenue. Expect budget debates in Duval, St. Johns, Clay and Nassau over the next year. CDD and other special-assessment fees are separate, and they won’t drop because of this amendment.
What to do now
- Make sure your homestead is on file with your county property appraiser. No homestead means no new exemption.
- Keep an eye on your escrow review after the November 2027 tax bill.
- Buying soon? Call us for a payment estimate that shows today’s taxes and the projected savings side by side.
Frequent questions
Does Amendment 3 lower my school taxes?
No. It applies to county, city and other non-school taxes. School taxes keep the current $25,000 exemption.
When will I see the savings?
On the tax bill mailed in November 2027, then in your mortgage payment after your servicer’s next escrow review.
Do I need to reapply for homestead?
If you already have homestead, you shouldn’t need to reapply under current rules. New owners must file by March 1.
Does this help investors?
Rental and commercial property doesn’t get the exemption. Yearly assessment increases are capped at 5% instead of 10%.
Have questions about your payment?
We’re glad to help. Call or text Nathan at 904-880-6741, or get a rate quote. No Social Security number is needed for a first look.
About the author: Nathan Young (NMLS #325206) founded North Star Mortgage Network, Inc. (Company NMLS #356789) in April 2000. He’s an independent mortgage broker in Jacksonville who compares options from many wholesale lenders for Northeast Florida homebuyers and homeowners. 904-880-6741 | nathan@nsmn.com
This post is general information, not tax or legal advice. Property tax savings vary by county, millage rate and property, and implementing laws may change the details. Contact your county property appraiser for your exemption. Any payment figures are estimates based on the information provided. Available for qualified borrowers; program guidelines apply; rates and terms are subject to change; all loans subject to credit approval. Equal Housing Opportunity.
