Florida Amendment 3 Passes: Homestead Exemption Rises to $150,000 in 2027 and $250,000 in 2028, Plus a 5% Cap on Non-Homestead Assessments

One-sentence takeaway

On November 3, 2026, Florida voters approved Amendment 3 (CS/HJR 1F) with about 62% Yes (unofficial: 4,917,796 to 3,016,195), expanding the homestead non-school property tax exemption to up to $150,000 beginning January 1, 2027 and up to $250,000 beginning January 1, 2028, and cutting the annual non-homestead assessment increase cap for non-school taxes from 10% to 5%. The change first shows on August 2027 TRIM notices and November 2027 tax bills; school millages keep only the $25,000 homestead exemption, and Save Our Homes, portability, and other personal exemptions stay in place.

News background

Amendment 3 is the ballot title "Increased Homestead Exemption; Lower Cap On Increases In Non-Homestead Property Assessments," placed by the Florida Legislature as CS/HJR 1F. Constitutional amendments in Florida need 60% voter approval; unofficial results on floridaelectionwatch.gov showed Yes 61.98% / No 38.02%, so the measure passed.

Under current (2026) law, a homestead typically receives up to about $51,411 of exemption: $25,000 against all millages plus roughly $26,411 of additional non-school exemption (CPI-adjusted; the exact CPI figure can vary by year). School taxes continue to see only the first $25,000.

Beginning January 1, 2027, the additional non-school homestead exemption rises so the total non-school homestead exemption is up to $150,000; beginning January 1, 2028, up to $250,000, with annual CPI adjustments beginning January 1, 2029. New Florida residents who establish residency on or after January 1, 2027 start with a $50,000 new-resident non-school exemption (CPI from 2028) and, after maintaining homestead for four years, receive the larger exemption beginning January 1 of the fifth year. Residents in place by December 31, 2026 are eligible for the larger amounts when they qualify for homestead.

For non-homestead property (rentals, second homes, commercial, vacant land), the annual assessment increase cap for non-school taxes drops from 10% to 5%. School taxes remain based on just-market value with no assessment cap. The amendment changes taxable value, not millage rates; taxing authorities still set rates, and non-ad valorem assessments are unaffected by the homestead exemption.

Old vs. new

Homestead non-school exemption: about $51,411 total in 2026 (≈$25,000 all millages + ≈$26,411 non-school, CPI-adjusted) → up to $150,000 non-school beginning January 1, 2027 → up to $250,000 beginning January 1, 2028 → CPI adjustments from January 1, 2029.

School millages: still only the $25,000 homestead exemption (structure unchanged).

New Florida residents (residency on/after January 1, 2027): start at $50,000 new-resident non-school exemption; larger amounts begin January 1 of the fifth year of continuous homestead. Residents by December 31, 2026 use the larger schedule when homestead-qualified.

Non-homestead assessment cap (non-school): annual increase limit 10% → 5%. School assessments stay uncapped / just-market.

Unchanged: Save Our Homes (3% or CPI), portability, widow/senior/veteran/disability exemptions, and the fact that millage rates and non-ad valorem assessments are set separately.

Timing: effective January 1, 2027; first reflected on August 2027 TRIM notices and November 2027 tax bills (county property appraiser / tax collector process; Pinellas County PAO has published this timeline as an illustration of the statewide calendar).

Self-check

If you already own a Florida homestead and were a resident by December 31, 2026: confirm your homestead application is on file with the county property appraiser; you should see the larger non-school exemption on the 2027 TRIM and November 2027 bill, while school taxes still use only $25,000 of exemption.

If you are a snowbird or multi-state resident: Florida homestead requires permanent residency and that the Florida home is your permanent residence; dual claims or conflicting residency documentation can jeopardize the exemption—review domicile facts before year-end 2026.

If you move to Florida on or after January 1, 2027: plan for the $50,000 new-resident non-school exemption first; the larger $150,000 / $250,000 schedule applies only after four years of continuous homestead, starting January 1 of the fifth year.

If you hold Florida rentals, a second home, commercial property, or vacant land: the non-school assessment increase cap falls from 10% to 5% beginning with the 2027 assessment cycle; school taxes remain at just-market value, so model both pieces separately.

If you own business or investment real estate in Florida: the amendment does not change millage rates or non-ad valorem assessments; watch county millage hearings and your August TRIM for the combined effect of taxable value and local rates.

Simplified example

*Simplified illustration only, using Pinellas County’s published countywide average non-school millage of 12.2011 mills (2025). This is not a statewide guarantee and is not a promise of any taxpayer’s savings.*

Assume a homestead whose assessed value fully uses the additional non-school exemption.

2027 additional exempt value (illustrative): about $98,589 beyond today’s non-school layer → $98,589 × 0.0122011 ≈ $1,203 of non-school tax reduction relative to current law.

2028 additional exempt value (illustrative): about $198,589 → $198,589 × 0.0122011 ≈ $2,423.

School taxes: the homestead still receives only $25,000 of exemption against school millages, so school tax does not drop with the new $150,000 / $250,000 non-school figures.

Non-homestead investor: if a rental’s just-market value rose more than 5% in a year, the taxable assessment for non-school millages can rise by at most 5% (was 10%); school millages still track market value.

Action steps and timeline

Now through December 31, 2026: if you intend to claim Florida homestead under the larger schedule, establish (or document) Florida residency and file the homestead application with your county property appraiser before year-end where required; snowbirds should reconcile domicile evidence.

January 1, 2027: Amendment 3 takes effect. New movers on/after this date start on the $50,000 new-resident non-school track.

Spring–summer 2027: watch for any implementing legislation and county property appraiser guidance on how the new exemption and 5% cap appear on assessment rolls.

August 2027: review your TRIM notice; confirm homestead status, non-school exemption amount, non-homestead 5% cap (if applicable), and proposed millage rates.

November 2027: first tax bills reflecting the new rules. Compare school vs. non-school lines; non-ad valorem assessments are separate.

January 1, 2028 and January 1, 2029: non-school homestead exemption steps to up to $250,000, then CPI adjustments begin—revisit projections each year.

How YCL can help

Florida homestead and multi-state residency review: documentation for permanent residency, snowbird conflicts, and timing for the December 31, 2026 vs. January 1, 2027 new-resident rules.

2027–2028 property tax projection: side-by-side non-school vs. school taxable value for homestead owners and for rental / second-home / commercial portfolios under the 5% cap.

TRIM and bill walkthrough: reading August 2027 TRIM notices and November 2027 bills so exemption, assessment cap, millage, and non-ad valorem lines are clear.

Cross-border planning: coordination for clients with homes or businesses in Florida and other states, including part-year moves and entity-owned real estate.

Year-end checklist: homestead filing deadlines, portability of Save Our Homes, and coordination with federal / multi-state income tax filings.

YCL Accounting & Consulting is a multi-state CPA firm serving clients nationwide in English and Chinese, led by co-founder Gloria (Chenchen) Liu, CPA.

FAQ

Q: Does Amendment 3 lower my millage rate?

A: No. It changes taxable value through a larger homestead non-school exemption and a lower non-homestead assessment cap. Counties, cities, and school boards still set millage rates each year.

Q: Will my school property tax go down in 2027?

A: The homestead exemption against school millages remains $25,000. The new $150,000 / $250,000 figures apply to non-school levies. School taxes continue to follow just-market assessment rules for non-homestead property as well.

Q: I am moving to Florida in 2027—do I get the full $150,000 exemption right away?

A: Residents establishing residency on or after January 1, 2027 start with a $50,000 new-resident non-school exemption (CPI from 2028). After maintaining homestead for four years, the larger exemption applies beginning January 1 of the fifth year. Residents by December 31, 2026 use the larger schedule when they qualify for homestead.

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YCL Accounting & Consulting (YCL Tax, Accounting & Advisory)

Multi-state CPA firm serving clients nationwide

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Phone: 919-802-8376 / 980-202-0666 | WeChat: YCLUSA

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Disclaimer

This article is general tax information, not tax, legal, or investment advice for any individual, and it does not promise any tax result. Election figures are unofficial results reported after November 3, 2026 and may change at certification. Pinellas County average-millage savings figures are a labeled simplified illustration for one county average, not a statewide guarantee. Sources: Florida Amendment 3 / CS/HJR 1F ballot materials, floridaelectionwatch.gov unofficial results, and Pinellas County Property Appraiser public explanations of effective dates and illustrative savings. Check your county property appraiser and tax collector, and consult a licensed professional before acting.