By Nathan Young, Founder, North Star Mortgage Network, Inc. | Company NMLS #356789 | Nathan Young NMLS #325206 | Updated October 2026

Quick answer: Amendment 3 on Florida’s November 3, 2026 ballot would raise the homestead exemption on non-school property taxes to $150,000 in 2027 and $250,000 in 2028, then adjust it for inflation. It would also lower the yearly assessment cap on non-homestead property from 10% to 5%. It needs at least 60% of the vote to pass. If it passes, it takes effect January 1, 2027.

This page explains what the amendment says, how today’s system works, and what it could mean for your tax bill and mortgage payment. It does not tell you how to vote. That is your decision.

Important: I am a mortgage broker, not a tax advisor or attorney. Your county property appraiser is the official source for exemptions and assessed values. Please confirm anything on this page with them.

What Is on the Ballot

  • Official ballot title: “Increased Homestead Exemption; Lower Cap on Increases in Non-Homestead Property Assessments”
  • Legislation: CS/HJR 1-F, passed by the Florida Legislature on June 2, 2026, and filed with the Secretary of State on June 16, 2026
  • Election date: Tuesday, November 3, 2026
  • To pass: at least 60% “Yes” votes (required for every Florida constitutional amendment)
  • Effective date if passed: January 1, 2027. Per the St. Johns County Property Appraiser, the first tax bills affected would be the November 2027 bills.

About the wording: The title first written by the Legislature was “Save Our Homes From Excessive Property Taxes.” In August 2026, a Leon County circuit judge found that wording read more like a slogan than a neutral description and ordered a rewrite. The Attorney General released the revised title and summary on August 13, 2026. The proposed changes themselves did not change. Read the official ballot summary on the Florida Division of Elections website.

How Homestead and Save Our Homes Work Today

If you own a Florida home and it is your permanent residence on January 1, you can apply for the homestead exemption with your county property appraiser. Today that gets you:

  1. The homestead exemption. For the 2026 tax year, it can total up to about $51,411 off your assessed value: $25,000 off all taxes (including school taxes), plus a second exemption of about $26,411 off non-school taxes. The second part is adjusted for inflation.
  2. Save Our Homes. Once your home is homesteaded, its assessed value can rise by no more than 3% a year, or the change in inflation, whichever is lower. That is true even if market value rises faster.
  3. Portability. When you sell a homestead and buy another Florida home, you can usually carry some or all of your Save Our Homes savings to the new home, within limits.
  4. Non-homestead property (rentals, second homes, commercial) has a 10% yearly cap on assessment increases for non-school taxes.

Source: Florida Department of Revenue, property tax exemptions. The St. Johns County Property Appraiser states that Save Our Homes, portability, and the existing personal exemptions (veterans, seniors, first responders, widows/widowers, and persons with disabilities) would not change under Amendment 3.

What Changes If Amendment 3 Passes

Today (2026) 2027 if passed 2028 if passed
Homestead exemption, non-school taxes About $51,411 $150,000 $250,000, then adjusted for inflation
Homestead exemption, school taxes $25,000 $25,000 (no change) $25,000 (no change)
Non-homestead assessment cap 10% a year 5% a year 5% a year
Save Our Homes cap and portability 3% or inflation No change No change

Other parts of the amendment:

  1. New Florida residents. People who become Florida residents on or after January 1, 2027 would start with the current-level exemption. They would become eligible for the larger exemption beginning January 1 of their fifth year of holding a Florida homestead exemption.
  2. Limits on local use of property taxes. County and city property tax revenue would be limited to listed purposes: public safety, education and schools, infrastructure, natural resources, bond debt service, employee retirement benefits, and operations and administration.
  3. Local option to go further. The Legislature would set a uniform process for counties and cities to raise homestead exemptions further, potentially up to full assessed value.
  4. What it does not do. Property taxes would not be eliminated. School taxes would still apply. Non-ad valorem assessments (such as some fire, solid waste, stormwater, or CDD charges) are separate and are not exemptions.

Sources: St. Johns County Property Appraiser; Hamilton County Property Appraiser Amendment 3 FAQ; CS/HJR 1-F (Florida Senate).

What Happens If It Fails

If fewer than 60% of voters approve it, nothing in this amendment takes effect. The current homestead exemption, Save Our Homes cap, 10% non-homestead cap, and portability all stay as they are today. The Legislature could propose other property tax changes in the future.

What Supporters and Opponents Say

I’m presenting both sides so you can decide for yourself.

Supporters say:

  1. Homeowners need relief as values, insurance, and living costs have risen.
  2. A larger exemption helps people stay in their homes and supports homeownership. Florida Realtors has publicly supported the amendment.
  3. A lower cap on non-homestead property gives rental and business property owners more predictable tax bills.

Opponents say:

  1. Local governments would lose a large share of their property tax base. Florida’s Revenue Estimating Conference projected the recurring cost at about $12 billion a year once fully phased in.
  2. Counties and cities could cut services or raise millage rates, which can shift costs to renters, businesses, and owners of non-homestead property. Several sheriffs and fire chiefs groups have raised concerns about public safety budgets.
  3. The new-resident rule creates two tiers of homeowners for several years, which can affect people moving to Florida.

Sources: Florida Chamber of Commerce (educational overview); Florida Policy Institute; Florida Phoenix. Each group has its own viewpoint.

What It Could Mean in Northeast Florida

Duval, St. Johns, Clay, and Nassau counties each set their own millage rates, so the effect will differ by county and city. A few points worth knowing:

  1. Long-time homestead owners would see the larger non-school exemption apply to their current assessed value. Savings depend on local millage rates, which local governments set each year.
  2. Buyers who become Florida residents before January 1, 2027 would generally be treated as existing residents under the new-resident rule. Residency and homestead eligibility are separate questions, so confirm your situation with your county property appraiser.
  3. Buyers moving from out of state in 2027 or later would start at the current-level exemption and wait until their fifth year for the larger one, if the amendment passes.
  4. Every buyer’s assessed value resets at purchase. The seller’s tax bill is not your tax bill. When a home sells, the seller’s Save Our Homes protection ends and the home is reassessed. This is true whether Amendment 3 passes or fails.
  5. Investors and second-home buyers would not get the homestead exemption, but the lower 5% cap would limit yearly assessment increases on non-homestead property.
  6. New construction in places like Nocatee, SilverLeaf, RiverTown, Wildlight, and Oakleaf is often taxed on the land only in its first year. Budget for a higher bill once the home is assessed.

What It Could Mean for Your Escrow and Monthly Payment

Most mortgages include an escrow account for property taxes and insurance. Your monthly payment covers about 1/12 of the yearly tax bill.

Hypothetical example (estimate based on the information provided — not a quote):

  • Homesteaded home with an assessed value of $350,000
  • Long-time Florida resident
  • Assumed non-school millage of 12 mills ($12 per $1,000 of taxable value). This is an illustrative rate, not any county’s actual rate.
  • Millage rates assumed unchanged (they may not be)
Non-school taxable value Estimated non-school tax per year Per month in escrow
Today $298,589 About $3,583 About $299
2027 ($150,000 exemption) $200,000 About $2,400 About $200
2028 ($250,000 exemption) $100,000 About $1,200 About $100

School taxes would not change under the amendment and are not shown. Your real numbers depend on your assessed value, your county and city millage rates, any rate changes local governments make, and the final implementing laws. Property appraisers have said actual savings can’t be known until those are set.

How escrow would catch up:

  1. Tax changes would first show on the November 2027 bill.
  2. Your loan servicer reviews escrow at least once a year. A lower tax bill can mean a lower escrow payment and possibly a surplus refund after that review. A higher bill works the other way.
  3. When you apply for a loan, lenders generally qualify you using current tax figures or a reasonable estimate, not a future exemption that has not taken effect. Don’t stretch your budget on savings that may or may not arrive.

Smart Steps Before and After November 3

  1. File for homestead with your county property appraiser if you own and live in your home. The deadline is March 1 for that tax year.
  2. Look up your current assessed value and exemptions on your property appraiser’s website.
  3. If you’re buying, ask for a tax estimate based on the purchase price, not the seller’s bill.
  4. If you’re moving to Florida, note your residency dates and talk with your county property appraiser about how the new-resident rule could apply to you.
  5. Read the official ballot summary before you vote.

Frequently Asked Questions

What is Florida Amendment 3 on the 2026 ballot?

Amendment 3 would raise Florida’s homestead exemption on non-school property taxes to $150,000 in 2027 and $250,000 in 2028, then adjust it for inflation. It would also lower the yearly assessment increase cap on non-homestead property from 10% to 5%. It is on the November 3, 2026 ballot and needs at least 60% of the vote to pass.

When would Amendment 3 take effect if it passes?

It would take effect January 1, 2027. The first property tax bills affected would be the November 2027 bills.

Does Amendment 3 eliminate property taxes or school taxes?

No. Property taxes would not be eliminated. The school tax portion of the homestead exemption stays at $25,000, so school taxes still apply. Non-ad valorem assessments are also separate.

How does Amendment 3 treat people who move to Florida after 2026?

People who become Florida residents on or after January 1, 2027 would start with the current-level homestead exemption. They would become eligible for the larger exemption in their fifth year of holding a Florida homestead exemption. Confirm your situation with your county property appraiser.

Would Amendment 3 change Save Our Homes or portability?

No. According to the St. Johns County Property Appraiser, Save Our Homes, portability, and existing personal exemptions would remain unchanged.

Would my mortgage payment go down if Amendment 3 passes?

It could, if your property tax bill goes down and your servicer lowers your escrow payment at its next review. Any savings depend on your assessed value and local millage rates, which can change. Any example is an estimate based on the information provided.

What happens if Amendment 3 does not pass?

Nothing in the amendment takes effect. The current homestead exemption, the Save Our Homes cap, the 10% non-homestead cap, and portability stay as they are today.

Official Sources and County Property Appraisers

Questions About Buying, Refinancing, or Your Escrow? Let’s Talk.

Property taxes are a real part of your monthly payment. I can help you estimate the full payment on a home you’re considering, including taxes and insurance, and walk through your loan options from many wholesale lenders. I’ve helped Florida families since 2000.

About the author: Since April 18, 2000, Nathan Young has been a Florida mortgage expert and the founder of North Star Mortgage Network, Inc. He was named 2025 NAMB Mortgage Broker of the Year.

North Star Mortgage Network, Inc. · 12058 San Jose Blvd, Suite 404, Jacksonville, FL 32223 · 904-880-6741 · nathan@nsmn.com · www.nsmn.com Company NMLS #356789 | Nathan Young NMLS #325206 · Equal Housing Opportunity “Your Best Interest Is My Principal Concern.”

Disclosures: This page is for general education only and is not tax, legal, or voting advice. Nathan Young is a mortgage broker, not a tax advisor or attorney. Contact your county property appraiser for official exemption and assessment information, and a tax professional for advice on your situation. Information reflects publicly available sources as of October 2026 and may change, including through court action or implementing legislation. Any payment or tax figures are estimates based on the information provided. All loans subject to credit approval. Rates and terms are subject to change. Available for qualified borrowers; program guidelines apply. North Star Mortgage Network, Inc. does not endorse or oppose any ballot measure.

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