Florida’s bigger homestead exemption: what changes for homeowners in 2027
· Approved by Florida voters on November 3, 2026; takes effect January 1, 2027
Florida voters approved Amendment 3 on November 3, a change to the Florida Constitution that raises the homestead exemption, the part of a primary residence’s value that is not taxed, from $50,000 to $150,000 in 2027 and $250,000 in 2028 for non-school property taxes.
The headline
A bigger exemption, step by step
Amendment 3 was placed on the ballot by the Florida Legislature (House Joint Resolution 1-F) and passed with about 62% of the vote, according to news reports. Amendments to the Florida Constitution need at least 60%.
The homestead exemption applies to the home an owner lives in as a permanent residence. Under Amendment 3, the exemption on non-school property taxes rises to $150,000 on January 1, 2027 and to $250,000 on January 1, 2028, then follows inflation. School taxes are not included.
- What
- Amendment 3 (HJR 1-F), a change to the Florida Constitution
- Approved
- November 3, 2026, about 62% yes according to news reports (60% needed)
- Starts
- January 1, 2027
- Homestead exemption
- Non-school taxes: $150,000 in 2027, $250,000 in 2028, then adjusted for inflation
- School taxes
- Not included; the existing school exemption stays
- New residents
- People who were not Florida residents on December 31, 2026 get the current exemption first; the larger one starts in their fifth year of homestead exemption
- Second homes, rentals, commercial
- No homestead exemption; from 2027, the yearly rise in assessed value for non-school taxes is capped at 5% instead of 10%
Why it’s good, in plain words: people who live in their own home in Florida will pay tax on a smaller part of its value, which should lower their yearly city and county tax bill. Owners of second homes, rentals and commercial property don’t get the exemption, but their taxable value can rise only 5% a year instead of 10%, which makes future tax bills easier to predict.
Estimates, not results
Miami-Dade County’s administration estimated a loss of about $385 million in property tax revenue in the first year, and Mayor Daniella Levine Cava warned of possible cuts to services such as fire rescue, libraries, parks and transit. A legislative analysis estimated a statewide reduction of nearly $5 billion in 2027-28. Savings for each homeowner will depend on the home’s assessed value and local tax rates.
Still to be confirmed
How Miami-Dade County, its cities and other local governments will adjust their budgets; the exact savings on 2027 tax bills, which arrive in fall 2027.
Sources
- Florida Senate, “Senate Passes Historic Property Tax Cut for Florida Homeowners,” June 2, 2026 (opens in a new tab) (exemption amounts, new residents, 5% cap, start date)
- Florida Chamber of Commerce, Amendment 3 explainer
- CBS News Miami and Bay News 9, election results, November 4, 2026 (vote result, Miami-Dade estimate)
Want to know more?
Ask Cathy Mai Phung, founder and editor-in-chief of Miami Reimagined.