Overview
- Voters approved Amendment 3 on Tuesday, Nov. 3, and the change will be added to the Florida Constitution and take effect on January 1, 2027.
- The amendment raises the non‑school homestead exemption to $150,000 in 2027 and $250,000 in 2028, excludes school taxes, and uses a Dec. 31, 2026 residency cutoff with a five‑year wait for new residents.
- State economists and budget analysts estimate the change will eventually reduce local government revenues by about $11.8 billion to $12 billion a year, and counties have posted calculators and contingency plans to model shortfalls.
- Governor Ron DeSantis has called for a special legislative session to write implementing rules and try to limit local governments from offsetting the savings with new taxes or fees, while legislative leaders say more time may be needed to draft details.
- Homeowners with existing homestead exemptions will receive automatic adjustments that mainly benefit middle‑market owners, but localities warn they may respond with service cuts, hiring freezes, higher fees or shifts in development policy that could affect renters and housing supply.