Florida Amendment 3 Explained: What the 2026 Property Tax Vote Means for Northwest Florida Homeowners
The short answer
Florida Amendment 3 is a proposed change to the Florida Constitution on the November 3, 2026 ballot. If at least 60% of voters approve it, the homestead exemption on non-school property taxes would rise to $150,000 in 2027 and $250,000 in 2028, and the yearly cap on assessment increases for non-homestead property would drop from 10% to 5%. School taxes would not change, and people who become Florida residents on or after January 1, 2027 would wait until their fifth year of homestead to receive the larger exemption.
Whether you own a home in Panama City, are thinking about buying in Marianna or Port St. Joe, or hold a rental along the coast, here is what the amendment says, what it does not do, and what it could mean county by county across Northwest Florida.
What is Florida Amendment 3?
Amendment 3 is a property tax measure the Florida Legislature placed on the ballot (CS/HJR 1F). Its official ballot title is "Increased Homestead Exemption; Lower Cap on Increases in Non-Homestead Property Assessments."
Key dates and facts:
Election day: Tuesday, November 3, 2026. Mail ballots are already out.
Votes needed: at least 60% approval, as with every amendment to the Florida Constitution.
Effective date if approved: January 1, 2027. The first tax bills to reflect it would arrive in November 2027, after the August 2027 TRIM notices.
Ballot wording update: in August 2026, a Leon County circuit judge ruled the original ballot title and summary misleading. The Attorney General issued a rewritten title and summary. The amendment itself did not change.
A "yes" vote adds the changes below to the Florida Constitution. A "no" vote keeps the current homestead exemption and assessment rules in place.
How would the homestead exemption change?
For qualifying homestead owners, the exemption on non-school property taxes would roughly triple in 2027 and nearly quintuple in 2028. The first $25,000 of exemption against school taxes stays the same.
| Tax year | Exemption against school taxes | Exemption against non-school taxes (county, city, special districts) |
|---|---|---|
| 2026 (current law) | $25,000 | Up to $51,411 total, including the $25,000 |
| 2027 (if approved) | $25,000 | Up to $150,000 |
| 2028 (if approved) | $25,000 | Up to $250,000 |
| 2029 and later | $25,000 | Up to $250,000, adjusted each year for inflation |
How much could a homeowner save?
Savings depend on where the home sits, because each city and special district sets its own millage rate. Florida TaxWatch offers a simple way to estimate it:
Add up all of the non-school millage rates on your most recent tax bill.
Multiply that total by $98.59 for an estimate of 2027 savings.
Multiply it by $198.59 for an estimate of 2028 savings.
As a partial example, Bay County's own county-wide operating rate is 5.43 mills. On that one levy alone, savings would be about $535 in 2027 and $1,078 in 2028. City, fire and other special-district levies would add to that figure. Homes with an assessed value below the new exemption would owe no non-school property tax at all, but would still pay school taxes and any non-ad valorem assessments.
These estimates assume millage rates stay the same, which is not guaranteed (see "What would not change" below).
Two other provisions worth knowing
A path to a larger exemption. The amendment directs the Legislature to create a uniform process that counties and cities could use to raise the homestead exemption further, up to the full assessed value. Special districts could do the same with voter approval.
Limits on how local taxes are spent. Counties and cities would have to use property tax revenue only for listed purposes: public safety, education and schools, infrastructure, natural resources, bond debt service, employee retirement benefits, and operations and administration.
What if I move to Florida after December 31, 2026?
The date that matters is when you become a permanent Florida resident, not when you buy. Residents as of December 31, 2026 would qualify for the larger exemption whenever they buy and apply for homestead, even if that purchase happens years later.
People who become Florida residents on or after January 1, 2027 would start with a smaller exemption on non-school taxes of $50,000 (adjusted for inflation starting in 2028). After holding a Florida homestead exemption for four years, they would move to the larger exemption beginning January 1 of their fifth year. The ballot summary notes this applies to the extent the U.S. Constitution allows, so this provision could see legal review if the amendment passes.
If you are planning a move to Northwest Florida, the residency rules for homestead are specific. Talk with your county property appraiser's office and a tax professional before relying on any date.
How would Amendment 3 affect second homes, rentals and commercial property?
Non-homestead property does not receive the larger exemption. That includes second homes, vacation and long-term rentals, commercial buildings and vacant land.
The change for these owners is the assessment cap. Today, the assessed value of non-homestead property can rise up to 10% a year for non-school taxes. Amendment 3 would lower that cap to 5%.
Two points to keep in mind:
The cap limits assessed value, not the tax bill. If local millage rates go up, taxes can still rise.
School taxes are not capped for non-homestead property. They would continue to be based on full market value, as they are today.
What would not change?
School property taxes. Only the existing $25,000 exemption applies to the school portion of the bill.
Save Our Homes. Homestead assessments would still be limited to 3% or the rate of inflation per year, whichever is lower.
Portability. Homeowners could still transfer their Save Our Homes benefit to a new Florida homestead.
Other personal exemptions. Senior, widow and widower, veteran and disability exemptions stay as they are.
Non-ad valorem assessments. Charges such as solid waste or certain fire and stormwater fees are not reduced by any homestead exemption.
Local tax rates. The amendment does not stop local governments from raising millage rates or fees, and it does not provide state money to replace lost local revenue.
How would Amendment 3 affect Northwest Florida counties?
State and county estimates project that Amendment 3 would reduce county government revenue by an amount equal to under 2% to about 14% of each Northwest Florida county's total revenue once the $250,000 exemption is in place. Santa Rosa, Escambia and Bay show the largest shares; Liberty shows the smallest.
| County | All local governments ($M) | County government only ($M) | County total revenue, FY 2024 ($M) | County loss as % of total revenue | Fiscally constrained |
|---|---|---|---|---|---|
| Bay | 43.7 | 37.0 | 529.2 | 7.0% | No |
| Calhoun | 1.6 | 1.0 | 21.3 | 4.9% | Yes |
| Franklin | 3.3 | 2.4 | 51.3 | 4.8% | Yes |
| Gulf | 4.5 | 3.1 | 65.1 | 4.8% | Yes |
| Holmes | 4.4 | 1.3 | 25.5 | 5.1% | Yes |
| Jackson | 5.3 | 3.7 | 80.7 | 4.6% | Yes |
| Liberty | 0.9 | 0.4 | 26.9 | 1.6% | Yes |
| Walton | 27.8 | 16.6 | 340.8 | 4.9% | No |
| Washington | 4.3 | 2.8 | 59.3 | 4.7% | Yes |
| Escambia | 69.4 | 58.8 | 700.5 | 8.4% | No |
| Okaloosa | 43.3 | 27.5 | 413.1 | 6.7% | No |
| Santa Rosa | 45.0 | 39.5 | 278.3 | 14.2% | No |
How to read this table: "All local governments" combines county, city and special-district losses from the state's Revenue Estimating Conference (adopted July 10, 2026). "County government only" comes from the Florida Association of Counties impact table, and "County total revenue" from FAC's county property tax report for FY 2024, the latest year published. The percentage divides the first by the second. Because it compares a 2028–29 estimate with 2024 revenue, treat it as an approximate size of the impact, not a budget forecast. Fiscal years run October through September.
Why the rural counties are worth watching
Seven of the nine counties between the coast and the Alabama line, Calhoun, Franklin, Gulf, Holmes, Jackson, Liberty and Washington, are designated "fiscally constrained." That means one mill of property tax raises a relatively small amount of revenue there. The Legislature has historically sent these counties money to offset revenue lost to past property tax amendments, but Amendment 3 does not include that kind of reimbursement.
Measured against total county revenue, the rural counties' estimated losses (about 1.6% to 5.1%) are smaller than Santa Rosa's or Escambia's. One reason is that property tax makes up a smaller share of their revenue: about 11% in Liberty and 18% in Washington, compared with 34% in Santa Rosa and 39% in Walton. Even so, a few million dollars is a large amount for a small county, and the Florida Association of Counties has warned that fiscally constrained counties have the fewest alternative revenue sources. How each county responds would be up to its own commission.
Coastal counties: Walton and the beaches
Walton County's estimated reduction roughly doubles from FY 2027–28 to FY 2028–29 and keeps climbing to about $42.7 million by FY 2030–31 in the state's projection. Walton, Franklin and Gulf also have many second homes and vacation rentals, which do not qualify for homestead and would see only the lower 5% assessment cap.
A few cities show no city-level reduction in the state estimate, including Panama City Beach, Altha, Bascom, Caryville, Ebro, Grand Ridge, Paxton, Wausau and Westville. Homeowners there would still see changes to their county and special-district taxes.
What could Amendment 3 mean in Bay County?
Bay County officials estimate the amendment would reduce county property tax revenue by about $36 million out of roughly $164 million, according to Deputy County Manager Keith Bryant in September 2026. That figure covers county government only, not the cities or special districts.
What county leaders have shared so far:
About 87% of county property tax revenue goes to emergency services, constitutional officers, reserves and community redevelopment areas. The rest funds services such as libraries, parks, public works and veterans services.
The county plans to hold its operating millage at 5.43 mills for 2027. The larger revenue effect would arrive in 2028 and 2029.
The county has already slowed hiring and delayed some park projects while it plans for either outcome.
Statewide, state economists estimate the amendment would reduce local property tax revenue by close to $12 billion a year once fully in place. How each community responds, whether through spending changes, new fees or rate adjustments, would be decided locally.
Bay County has posted its own Understanding Amendment 3 page for residents who want the county's numbers.
What does Amendment 3 mean for buyers, sellers and investors?
No one knows yet how the vote will turn out, so the best approach is to understand both outcomes and plan around your own situation.
Buyers
A seller's current tax bill rarely predicts yours. Save Our Homes resets when a home sells, so estimate taxes on the purchase price with and without the proposed exemption.
If you are relocating to Northwest Florida, note the December 31, 2026 residency date described above, and get tax or legal advice before acting on it. A ballot measure should not rush a home purchase.
Remember to file for homestead with your county property appraiser after you buy. The standard deadline is March 1 of the tax year.
Sellers
Expect buyers to ask about Amendment 3. Having your current tax bill and exemption details ready helps the conversation.
Portability is unchanged, so if you sell one Florida homestead and buy another, you can still carry your Save Our Homes benefit with you within the usual time limits.
Investors and second-home owners
The 5% assessment cap could slow growth in assessed value, but school taxes stay uncapped and local rates can change.
Build a range of tax scenarios into your numbers instead of assuming a lower bill.
Our team is happy to walk through current tax figures on any Northwest Florida home you are considering. We do not offer tax or legal advice, so we will point you to the right professional for those questions.
Who supports and who opposes Amendment 3?
Supporters include Florida Realtors, the Central Panhandle Association of Realtors and the Republican Party of Florida. Their case is that a larger exemption gives homeowners meaningful tax relief and helps make owning a home more attainable.
Opponents include statewide sheriff and firefighter groups and the Vote No on 3 campaign. Locally, Bay County's manager and sheriff have raised concerns about funding for public safety and other services. Their case is that the lost revenue would lead to service cuts or higher fees, and that renters and businesses would not share in the savings.
Independent analyses from Florida TaxWatch, the Florida Policy Institute and county property appraisers lay out the numbers in more detail. Reviewing several viewpoints before you vote is a good idea.
Frequently asked questions about Florida Amendment 3
Does Amendment 3 eliminate property taxes in Florida?
No. School taxes, non-ad valorem assessments and taxes on non-homestead property would continue. The amendment does create a process the Legislature could use to let counties and cities raise the homestead exemption up to the full assessed value later.
When would Amendment 3 take effect?
January 1, 2027, if at least 60% of voters approve it on November 3, 2026. Homeowners would first see the change on November 2027 tax bills.
Does Amendment 3 lower school property taxes?
No. The school portion of the bill keeps the current $25,000 homestead exemption.
I already have a homestead exemption. Do I need to reapply?
The amendment does not say current homesteaders must reapply. Implementing details would come from the Legislature, so watch for guidance from your county property appraiser.
Does Amendment 3 change Save Our Homes or portability?
No. The 3% Save Our Homes cap and portability stay the same.
Would renters benefit from Amendment 3?
Not directly. Rental property is non-homestead, so it would only see the lower 5% assessment cap, and any effect on rent would depend on the owner and the market.
Is this the same as the 2024 Amendment 3?
No. Amendment numbers are reused each election. The 2024 Amendment 3 was a different measure, and voters rejected it.
The bottom line
Amendment 3 would bring one of the largest changes to Florida property taxes in decades, mainly for homesteaded owners, while school taxes, Save Our Homes and portability stay the same. How much any household saves, and how local services adjust, depends on millage rates and decisions that have not been made yet. Questions about a specific property anywhere from the coast to the Alabama line? Palms To Pines Real Estate is happy to help you find the current numbers.
This article is for general information only and is not tax, legal or voting advice. Palms To Pines Real Estate does not endorse or oppose any ballot measure in this post. Figures reflect publicly available information as of October 6, 2026 and may change. For your situation, consult your county property appraiser, a tax professional or an attorney.
Sources
Pinellas County Property Appraiser: Proposed 2026 Amendment 3 FAQs
Florida Chamber of Commerce: Florida's 2026 Property Tax Amendment 3
Florida Phoenix: Rewritten Amendment 3 ballot language (Aug. 13, 2026)
WJHG: Bay County leaders weigh $36 million hit (Sept. 16, 2026)
WJHG: Amendment 3 raises concerns among Bay County leaders (Oct. 3, 2026)
Florida Revenue Estimating Conference: CS/HJR 1F impact by county (July 10, 2026)
Florida Politics: Fiscally constrained counties and Amendment 3
Florida Association of Counties: HJR 1F county revenue impacts
Florida Association of Counties: Florida County Property Tax Report (FY 2024)
