CBS Miami reported on November 3 that Florida’s Amendment 3 had passed according to election-night projections. The measure would substantially expand the homestead exemption for non-school property taxes. It would not eliminate every homeowner’s property-tax bill.
For owners and buyers, three details matter most: the change is phased in, school taxes are treated separately, and some new Florida residents face a waiting period for the larger exemption. The result described here is CBS’s projected outcome, not a claim of certified election results.
What changes in 2027 and 2028?
The enrolled amendment text, pages 9–10, sets out these exemption amounts for qualifying homesteads:
- January 1, 2027: up to $150,000 of assessed value would be exempt from non-school property-tax levies.
- January 1, 2028: that non-school exemption would increase to $250,000.
- School district levies: the basic homestead exemption would remain $25,000; the larger non-school amounts would not apply.
These are amounts of exempt assessed value—not checks to homeowners or dollar-for-dollar reductions in their tax bills. A property’s assessed value, applicable tax rates and eligibility determine the benefit. The $150,000 and $250,000 figures describe total exemption amounts for the covered levies, not extra amounts added on top of those totals.
The newcomer rule deserves attention
The amendment distinguishes owners who had maintained a permanent residence in Florida by December 31, 2026, from certain people establishing a homestead afterward who had not.
For the latter group, the text initially provides a $50,000 non-school exemption, with the larger exemption beginning in the fifth year of exemption. The school exemption remains separate. The text also allows counties or municipalities, beginning in 2030, to shorten the waiting requirement for a critical local need through a two-thirds vote.
That is why “I am buying in Florida” is not enough to determine eligibility for the larger benefit. Before relying on it, confirm your residence history, ownership dates and homestead status with the property appraiser for the county where you are buying.
What about investment properties?
Separate provisions in the enrolled text would reduce the annual assessment-increase limit for covered non-homestead properties from 10% to 5%, starting January 1, 2027, for non-school levies. An assessment cap is not a promise that a tax bill will rise by no more than that percentage: tax rates and other applicable rules still matter.
Tax relief also changes local budget choices
CBS Miami’s election report cites a legislative estimate of nearly $5 billion less local-government revenue in fiscal year 2027–28. That is a projected fiscal effect, not a completed budget cut.
For a household, a lower tax bill could ease ownership costs. For a city or county, a smaller revenue base creates decisions about spending, services and other revenue sources. Neither a specific service cut nor a particular replacement fee should be assumed before local budgets are adopted.
What buyers and homeowners should do next
- Request a property-specific estimate. Separate school taxes, covered non-school taxes and any non-ad valorem charges rather than applying one exemption to the entire bill.
- Confirm eligibility and filing requirements. The Florida Department of Revenue directs owners to their county property appraiser, which determines entitlement to an exemption.
- Do not copy the seller’s tax bill into your budget. Ask how a purchase, reassessment and any available portability benefit would affect your situation.
- Keep the full ownership budget in view. Insurance, association dues, maintenance and financing costs remain separate from the property-tax calculation.
The useful takeaway is not that Florida property taxes have disappeared. It is that the reported approval could materially change the taxable portion of a qualifying home, with different rules for different owners. Use the amendment text and property-specific guidance—not a headline alone—to plan your next move.
Reporting checked November 4, 2026. The enrolled resolution provides the policy details and proposed January 1, 2027 effective date; CBS Miami provides the projected election outcome. This is general information, not individual tax advice.
Cover image source: CBS News Miami’s original article image.
