What Amendment 3 Could Mean for Florida Homeowners

By Traci Bolen | Sand Sea Homes | eXp Realty Serving Sarasota, Manatee, and Charlotte County

Quick answer: If Florida voters approve Amendment 3 on November 3, 2026, most homesteaded homeowners, including those in Sarasota and Manatee County, would see the non-school homestead exemption jump from roughly $51,000 today to $150,000 in 2027 and $250,000 in 2028. A typical homeowner could save around $1,000 a year at first and roughly double that by 2028, according to Florida TaxWatch's calculator.

If Florida voters approve Amendment 3 on November 3, 2026, most homesteaded homeowners would see the exemption on non-school property taxes jump from roughly $51,000 today to $150,000 in 2027 and $250,000 in 2028. A typical homeowner could save around $1,000 a year at first and roughly double that by 2028, according to Florida TaxWatch's calculator using the statewide average millage rate. The amendment also lowers the assessment cap on second homes, rentals, and commercial property, and local governments say the lost revenue is substantial. This post explains what the measure does, who benefits most, and what's still uncertain. It isn't a recommendation on how to vote.

What Amendment 3 Actually Changes for Sarasota Homeowners

The measure, passed by the Legislature as CS/HJR 1F, bundles several changes into one ballot question:

• Homestead exemption on non-school taxes. The exemption would rise to $150,000 beginning January 1, 2027, and $250,000 beginning January 1, 2028, then adjust annually for inflation. Today's non-school exemption tops out at about $51,411.
• School taxes are unchanged. The $25,000 exemption on school millage stays as it is.
• Non-homestead assessment cap. The annual cap on assessed value growth for second homes, rentals, and commercial property would drop from 10% to 5%, again for non-school taxes only.
• New-resident rules. People who establish Florida residency after the cutoff would start with a reduced $50,000 exemption, with the full amount available after roughly four years, according to the property appraiser and tax-resource summaries reviewed for this post. Sources differ slightly in how they describe the waiting period, so check the final ballot text for exact wording.
• Limits on how local governments use property tax revenue. County and municipal property taxes would be restricted to specified purposes such as public safety, education, and infrastructure.

Approval requires 60% of voters. If it passes, the changes take effect January 1, 2027.

What stays the same: Save Our Homes (the 3% cap on annual assessment increases for homesteaded property) and portability are unchanged, and so are existing exemptions for seniors, veterans, widows and widowers, first responders, and people with disabilities, according to the Manatee County Property Appraiser.

How Much Could a Homeowner Save?

Florida TaxWatch's calculator, using the statewide average non-school millage of 10.5 mills, estimates savings of about $1,035 in 2027 and about $2,085 in 2028. Those figures exclude some special district taxes, so actual savings could run higher. The Florida Policy Institute's Holly Bullard has described the typical benefit as around $1,000 a year.

Two things affect your own number:

1. Your local millage rate. Savings equal the additional exempt value multiplied by your non-school millage, so a higher-millage jurisdiction sees larger savings.
2. Your assessed value, not your market value. The exemption can't reduce your taxable value below zero. Owners who have held a homestead for years under Save Our Homes may already have an assessed value well below market, which can limit how much of the new exemption they can use. Per one tax-resource analysis, a home assessed at $250,000 or less would owe no non-school property tax from 2028 on.

Your property appraiser's office or an online calculator can run the exact figures for your parcel using your real assessed value and millage.

Who Doesn't Benefit as Much

Second-home owners and snowbirds. The larger exemption applies to homestead property, which requires permanent Florida residency. Second homes get only the lower assessment-growth cap, which slows future assessment increases but doesn't cut today's bill the way the exemption does.

Investors and landlords. Rental properties also fall under the 5% cap rather than the larger exemption. The Florida Policy Institute notes that Florida has about 3 million renter households, who wouldn't receive the exemption directly, and that research suggests landlords sometimes pass part of property tax changes through to rents. Whether that happens here depends on market conditions and isn't certain.

New arrivals to Florida. Buyers who move here after the cutoff and establish homestead would start at the $50,000 level rather than the full exemption, so the benefit builds over time. If you're relocating to the Gulf Coast, this timing is worth understanding before you buy.

What Local Governments Say It Would Cost

This is the other side of the ledger, and it's why the measure is contested. State economists on Florida's Revenue Estimating Conference project the combined changes would reduce local government property tax revenue by about $4.9 billion in 2027-28, $8.7 billion in 2028-29, and roughly $12 billion annually once fully in effect.

Locally:

• Sarasota County Administrator Jonathan Lewis presented estimates of about $134 million in lost revenue over the first two years, including roughly $54 million affecting the Sheriff's Office, about $17.5 million for emergency services, and $8.6 million for the Environmentally Sensitive Lands Protection Program. He noted these figures assume proportional cuts and that no budget decisions have been made.
• The Florida Policy Institute's county-level figures, reported by WUSF, put Sarasota-area local government impacts in the neighborhood of $250 million, though that figure comes from a different method and timeframe than the county administrator's two-year estimate.
• North Port Fire Chief Scott Titus told local media that residential-heavy communities like North Port could feel larger budget losses than commercial-heavy ones like the City of Sarasota.
• I wasn't able to find comparable published estimates for Manatee or Charlotte County governments while preparing this post, so check each county's budget office for current projections.

Supporters, including Florida Realtors, respond that local property tax collections have roughly doubled over seven years, from $32 billion to $60 billion according to tax attorney French Brown, and that the amendment's restrictions on how property tax revenue is spent are intended to protect core services. Opponents argue local governments will have to cut services or raise other fees, and that the measure shifts costs onto renters, businesses, and consumers. Both positions rest on projections, and the actual effect would depend on decisions local governments make after the vote.

What It Could Mean for Buying and Selling

This is where honesty about uncertainty matters most. Lower carrying costs can increase what buyers are willing to pay, since property tax is part of the monthly payment lenders and buyers count. Some commentary argues this could push prices up. Florida Realtors frames the benefit as affordability through lower taxes rather than lower prices, and I haven't seen reliable data predicting a specific price effect, so treat any confident forecast with caution.

Practical points if you're buying or selling:

• Property tax estimates in listings may change. If the amendment passes, the tax bill a buyer sees today could look different in 2027 and 2028. Ask your agent and lender how they're estimating taxes for a purchase closing near the January 1, 2027 effective date.
• Sellers with long-held homesteads. Because Save Our Homes and portability are unchanged, the tradeoffs of moving versus staying put don't change on that front. The new exemption would apply to your next homestead, subject to the new-resident rules only if you're coming from out of state.
• Condo and HOA owners. The measure affects property tax, not association dues. Budgets that rely on county services and special assessments are a separate matter, covered in our post on Florida condo reserves.
• Buyers who recently purchased. Your purchase price doesn't change, but your future tax bill could.

Should You Wait on a Purchase or Sale Until After the Vote?

For most people, no. Timing a purchase around a ballot measure with a 60% approval threshold adds a variable you can't control, and your financial readiness, rate, and the specific home matter more. If you're closing in the next few months, run your numbers both ways: with current taxes, and with the projected 2027 and 2028 exemption, so you know your payment holds up under either outcome.

What Could Amendment 3 Mean for Florida Homeowners?

For a homesteaded owner, it could mean meaningful annual savings, roughly $1,000 starting in 2027 and potentially around $2,000 by 2028 at average millage, with Save Our Homes untouched. For second-home owners, investors, renters, and newcomers to Florida, the benefits are smaller or arrive later. For local governments, the projected revenue losses are large enough that service funding decisions would follow if it passes. How it plays out depends on the vote on November 3, 2026, and on budget choices that haven't been made yet.

Frequently Asked Questions

When is the Amendment 3 vote, and what does it need to pass?

The vote is November 3, 2026, and approval requires 60% of voters. If it passes, the changes take effect January 1, 2027.

How much could a Sarasota homeowner save under Amendment 3?

Florida TaxWatch's calculator, using the statewide average non-school millage of 10.5 mills, estimates savings of about $1,035 in 2027 and about $2,085 in 2028. Your own number depends on your local millage rate and your assessed value, not your market value.

Does Amendment 3 help second-home owners and investors?

Not as much. The larger exemption applies to homestead property, which requires permanent Florida residency. Second homes and rentals would get the lower non-school assessment cap, dropping from 10% to 5%.

What could Amendment 3 cost Sarasota County?

Sarasota County Administrator Jonathan Lewis presented estimates of about $134 million in lost revenue over the first two years, noting that no budget decisions have been made. Comparable published estimates for Manatee or Charlotte County governments weren't found, so check each county's budget office.

Should I wait to buy or sell until after the vote?

For most people, no. Timing a purchase around a ballot measure adds a variable you can't control, so run your numbers both ways: with current taxes and with the projected 2027 and 2028 exemption.

Want to see how a possible change in property taxes affects the numbers on a specific purchase or sale? Schedule a consultation with Traci today.

Sand Sea Homes | eXp Realty | Serving Sarasota, Manatee, and Charlotte County

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