Florida voters approve expanded Super Homestead Exemption in 2026
Florida voters approved Amendment 3, expanding the homestead property tax exemption.
Why it matters: The amendment significantly reduces property tax liabilities, affecting estate planning and real estate portfolios managed by in-house legal teams.
- Amendment 3 passed November 3, 2026, with 62% voter support, exceeding the 60% needed.
- Homestead exemption for non-school property taxes rises from $50,000 to $150,000 in 2027 and $250,000 in 2028.
- Annual assessment cap on non-homestead properties lowers from 10% to 5%.
- New Florida residents after 12/31/2026 start with the $50,000 exemption, increasing after five years.
On November 3, 2026, Florida voters approved Amendment 3 with approximately 62% support, surpassing the constitutional threshold of 60% needed for a state constitutional change (Axios Fort Lauderdale).
The amendment expands the homestead exemption for non-school property taxes from the current $50,000 to $150,000 in 2027 and further to $250,000 in 2028. This change aims to reduce property tax liabilities for homeowners across the state (Axios Fort Lauderdale, FL Voice News).
Additionally, the annual cap on assessment increases for non-homestead properties drops from 10% to 5%, potentially limiting rapid tax growth on investment or secondary properties (FL Voice News).
However, homeowners who establish residency after December 31, 2026, will initially receive the standard $50,000 exemption and only benefit from the increased exemption starting in their fifth exemption year. This phased implementation introduces complexity for new residents and legal planning (FL Voice News).
Estimated savings illustrate the amendment's impact. In Miami-Dade County, homeowners could save $1,700 in 2027 and $2,700 in 2028 on average, while Broward County homeowners might save $1,300 and $2,300, respectively (Axios Miami).
The amendment is projected to cost local governments billions in lost revenue, raising concerns about funding for essential services like fire rescue and parks. As one observer noted, "The key question is whether municipalities and communities that depend heavily on property taxes will cut services or begin charging for them." This could influence how local governments approach budgeting and legal oversight in real estate matters (Axios Fort Lauderdale).
By the numbers:
- 62% — voter approval rate for Amendment 3 on November 3, 2026
- $150,000 — new homestead exemption amount for non-school property taxes starting in 2027
- 5% — new annual cap on assessment increases for non-homestead properties
Yes, but: While Amendment 3 will ease tax burdens for many homeowners, it may force local governments to reduce services or seek alternative revenue sources due to significant funding losses.
What's next: Legal teams and in-house counsel should monitor local government responses to budget impacts and update estate planning and real estate strategies accordingly.