Florida Raises the Homestead Exemption: What Amendment 3 Changes for Homeowners

NICEVILLE, Fla. - Rezul -- Uber Realty is explaining Florida's newly passed Amendment 3 for homeowners, and the headline is a bigger homestead exemption. The amendment passed Nov. 3 with 61.98% of the vote, 4,922,400 yes to 3,019,415 no, according to unofficial results from the Florida Division of Elections. Constitutional amendments need 60% to pass. Results remain unofficial until certified.

If you own your home in Florida, a bigger share of its value is set to be shielded from property tax. The homestead exemption shields part of a primary home's value from property tax. Under the amendment, the exemption for non-school property taxes rises to $150,000 on Jan. 1, 2027, and to $250,000 on Jan. 1, 2028. After that, it adjusts with inflation each year. School taxes are not covered; the exemption for school levies stays at $25,000.

Newer arrivals wait longer. Anyone who was not a Florida resident on Dec. 31, 2026 keeps the existing exemption when they first qualify, and the larger exemption starts with their fifth year of exemption. Beginning in 2030, a county or city can shorten that wait by a two-thirds vote for a critical local need.

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The amendment also covers property that is not a homestead. The yearly cap on assessment increases for rentals, second homes and commercial property drops from 10% to 5%, also on Jan. 1, 2027.

What this means for any single tax bill depends on the property's assessed value and local millage rates, which differ by city and county. The amendment sets the exemption and the caps, not anyone's final number.

Okaloosa County voters backed Amendment 3 with 69% of the vote, according to the county's unofficial tally. Full statewide results are posted by the Florida Division of Elections.

About Uber Realty LLC: Jim Whatley has been helping you sell your home since 2007. He walks you through how it works and shows you how to keep more of what your home sells for. Serving Niceville, Shalimar and Fort Walton Beach.

Contact: Jim Whatley, Uber Realty LLC, 850.499.2940, jim@uberrealty.com
Website: https://www.uberrealty.com
Official results: https://floridaelectionwatch.gov/Amendments