Amendment 3 for Florida Home Buyers: 2027 Guide

Amendment 3, approved by about 62% of Florida voters on November 3, 2026 (unofficial count), raises the homestead exemption on non-school property taxes to up to $150,000 of assessed value in 2027 and $250,000 in 2028, then indexes it to inflation. Buyers who are permanent Florida residents by December 31, 2026 are expected to qualify for the larger amount when they homestead a home, while people who become residents later start with a smaller exemption and wait until their fifth year. School taxes and non-ad valorem assessments, such as fire, stormwater and Cape Coral utility charges, are not reduced.

Last updated November 6, 2026.

What did Florida's Amendment 3 change?

Amendment 3 enlarges the homestead exemption for non-school property taxes, lowers the yearly assessment cap on non-homestead property from 10% to 5%, and limits what counties and cities can spend property tax money on. It needed 60% and won about 62%, unofficially.

The measure began as HJR 1-F, passed by the Florida Senate on June 2, 2026. After a judge ruled the first ballot summary defective on August 4, 2026, the Attorney General rewrote it, and that revised wording is what voters approved (WJHG, August 14, 2026).

Quick facts

Vote: Yes 4,921,644 (62%), No 3,018,814 (38%), unofficial, state certification pending (News4Jax, November 4, 2026)
Homestead exemption, non-school levies: up to $150,000 of assessed value in 2027 and up to $250,000 in 2028, then indexed to CPI from 2029 (ClickOrlando, November 4, 2026; Florida Senate, June 2, 2026)
School taxes: not covered; the existing $25,000 school exemption continues (Florida Chamber, November 4, 2026)
Non-homestead cap: drops from 10% to 5% a year on non-school assessed value starting with 2027 (Leon County Property Appraiser, November 2026)

When do the new homestead exemptions start?

The amendment takes effect January 1, 2027, so the first tax bill it changes is the November 2027 bill. Your 2026 tax bill, which Lee County released around October 30, 2026, is not affected.

You will first see the new exemption on the August 2027 TRIM notice (the proposed tax notice), then on the November 2027 bill, per the Leon County Property Appraiser's post-election guidance. The state Revenue Estimating Conference treats the new exemption as self-executing, so it applies in 2027 without a new statute (Kaufman Rossin, November 3, 2026).

Normal homestead rules still apply. You must own the home and live in it as your permanent residence on January 1 of the tax year, and you must apply by March 1. For the 2027 tax year, the application deadline is March 1, 2027, per the Lee County Property Appraiser.

Do I qualify if I move to Florida before December 31, 2026?

People who are permanent Florida residents on or before December 31, 2026 qualify for the larger exemption, per the Florida Senate and the Leon County Property Appraiser. You still have to own and homestead a home to receive it.

Two property appraisers, Leon and Volusia, say a person who is a Florida resident by December 31, 2026 but buys later, for example a renter who buys in 2027 or 2028, qualifies for the higher amount when they apply for homestead. That means the residency date is the test, not the closing date.

"Permanent residency" is not defined in detail yet. The property appraiser makes the residency decision, and implementing legislation may add procedures. Kaufman Rossin notes that a former home state can challenge a Florida residency claim, and it recommends documenting the move with a Florida driver license, voter registration and a declaration of domicile.

In practice, a buyer who closes, moves in and establishes residency by December 31, 2026, then files by March 1, 2027, is positioned for the 2027 exemption, subject to the property appraiser's determination and any changes in the special session.

What if I become a Florida resident in 2027 or later?

New residents who establish Florida residency on or after January 1, 2027 start with a smaller exemption and become eligible for the larger one beginning in the fifth year of homestead. The exact starting tiers are described differently by different sources, so confirm with the property appraiser.

The Leon and Volusia County Property Appraisers describe a $50,000 non-school exemption for new residents, indexed to CPI from 2028, with the larger exemption beginning January 1 of the fifth year after four years of maintaining a Florida homestead. ClickOrlando describes the starting tiers in terms closer to today's exemption, and the Florida Chamber's timeline says new residents begin qualifying after January 1, 2032. Read together, a new resident should plan on roughly the current level of exemption for the first four years of homestead, then the larger exemption in the fifth year.

The amendment applies this "to the extent permitted by the U.S. Constitution," and a residency-based rule could draw legal challenges; none had been reported after the election as of November 6, 2026. For your own situation, check with the Lee County Property Appraiser or the Collier County Property Appraiser.

What are homes selling for where the new exemption applies?

Over the 12 months to October 2026, the single-family median was $385,000 in Cape Coral and $820,000 in Naples, so a $250,000 exemption in 2028 would cover a large share of non-school taxable value on many Lee County homesteads.

Single-family sales by city, 12 months to October 2026
City	Median price	Median days list to contract	Median days contract to close	Sale vs original list	Sales with a price reduction
Cape Coral	$385,000	53	33	94.6%	55.3%
Fort Myers	$545,000	45	35	94.4%	50.5%
Lehigh Acres	$310,000	59	34	96.2%	54.3%
North Fort Myers	$340,000	60	32	93.3%	50.4%
Estero	$650,000	62	37	93.9%	51.7%
Bonita Springs	$730,000	58	36	92.9%	48.6%
Naples	$820,000	62	36	92.7%	49.4%
Marco Island	$1,550,000	72	35	90.0%	54.2%

Source: Cameron Smith analysis of Southwest Florida MLS data, pulled November 6, 2026.

How these numbers were measured. Figures come from closed MLS sales and listings in Southwest Florida MLS, pulled November 6, 2026. Each city follows the MLS City field. Estero includes Miromar Lakes, Fort Myers covers only the city limits and downtown MLS areas (unincorporated Fort Myers mailing addresses are left out), and Naples is the Naples postal city on the Collier mainland, with Marco Island counted separately. Single-family means detached homes and detached villas that are not condo owned. Condo and townhouse covers condo-owned units in low, mid and high rise buildings, attached villas and townhouses. Manufactured homes, co-ops, timeshares, land and rentals are excluded. Sales under $20,000 or below 50% or above 150% of list price were dropped, and sales entered after the fact without MLS marketing count toward prices but not toward days or sale-to-list figures. Days list to contract runs from the listing date to the first pending date. Months of supply is active listings at period end divided by average monthly closed sales over the prior 12 months. Flood zone is not in the MLS export, so any flood zone figures on this page come from FEMA or county sources.

How much could I save on a Lee or Collier County home?

Savings depend on your assessed value and the millage rates where you buy, so there is no single number. WGCU reported that an online estimator using 2025 Lee County millage projected about $1,736 in 2028 savings for a homeowner with $400,000 of taxable value (WGCU, October 15, 2026).

The cleaner way to see the effect is through taxable value, because that is what the exemption changes. Here is a simplified example using the schedule as described by ClickOrlando (November 4, 2026); the property appraiser's figures control.

Worked example: $400,000 assessed homestead

Tax year	Non-school exemption	Non-school taxable value	School taxable value
2026 (current rules)	$50,000	$350,000	$375,000
2027	up to $150,000	about $250,000	$375,000
2028	up to $250,000	about $150,000	$375,000

Your bill is taxable value times each authority's millage, plus non-ad valorem assessments, and local rates can change. Lee County staff modeled about $121 million in lost county revenue in fiscal 2027-28 and discussed MSTUs, user fees and a "roll-up" millage (CitizenPortal, September 1, 2026). The City of Naples raised its millage from 1.23 to 1.29 mills for fiscal 2026-27 (Gulfshore Business, September 2026).

What taxes and fees does Amendment 3 not reduce?

The exemption does not touch school district taxes or non-ad valorem assessments. Those can be a large share of a Southwest Florida tax bill.

School taxes: you still pay on assessed value above the existing $25,000 school exemption (Florida Chamber, November 4, 2026).
Non-ad valorem assessments: fire, stormwater, solid waste, CDD charges and utility assessments stay on the bill (Leon County Property Appraiser, November 2026).
Cape Coral utility assessments: the North 1 East UEP assessment runs about $32,288 per standard lot before an expected $4,000 grant, with a 30-year default annual payment of $3,385 at up to 6.25%, first billed November 2026 (Cape Coral Breeze, November 20, 2025).
Second homes: no homestead exemption, before or after Amendment 3 (Kaufman Rossin, November 3, 2026).

Before you write an offer, I pull the parcel's current tax bill, separate the ad valorem and non-ad valorem lines, and estimate your 2027 and 2028 bills under your expected exemption.

Should I buy before the end of 2026?

If you plan to make Florida your permanent home, establishing residency by December 31, 2026 matters more than the closing date itself. Buying and moving in by then also lets you file for the 2027 homestead exemption by March 1, 2027.

As of November 6, 2026, 55 days remain, which leaves little slack for appraisal, insurance or condo document delays. Over the 12 months to October 2026, cash buyers closed in a median 31 days after contract and financed buyers in 36 days for single-family homes across the eight MLS areas we track, and 38 days for financed condos.

Median days from contract to closing, cash versus financed, 12 months to October 2026
Area	Single-family cash	Single-family financed	Condo cash	Condo financed
All 8 areas	31	36	31	38
Cape Coral	26	35	28	36
Fort Myers	35	36	30	37
Lehigh Acres	21	35	25	33
North Fort Myers	29	34.5	28	37
Estero	35	40	31	38
Bonita Springs	34	39	32	39
Naples	33	39	31	39
Marco Island	30	38	29	40

Source: Cameron Smith analysis of Southwest Florida MLS data, pulled November 6, 2026.

Here is the sequence I plan with buyers aiming for the line.

Get financing or proof of funds now. The 30-year fixed averaged 7.18% on November 5, 2026 (Freddie Mac). A cash closing usually has fewer moving parts.
Get insurance quotes before you write the offer. Citizens will require flood coverage on all wind-covered personal residential policies starting January 1, 2027 (Citizens Property Insurance).
Pick a closing date with room to spare. I work backward from your move-in date with the lender, title company and inspectors.
Document residency. Florida driver license, vehicle registration, voter registration and a declaration of domicile, as Kaufman Rossin recommends.
File homestead by March 1, 2027. Apply with the Lee or Collier County Property Appraiser.

What is still being decided in Tallahassee?

Implementing details are still open. Gov. DeSantis said on November 4, 2026 that he will call a special session within about two months, before his term ends in early January 2027, and the 2027 regular session runs March 2 to April 30, 2027.

Open items include how "permanent residency" is proven, the schedule for further increases, limits on local fees, and procedures for people who move within Florida. Starting January 1, 2030, a county or city may shorten the new-resident wait by a two-thirds vote if it finds a critical local need (Kaufman Rossin; Florida Chamber). I will update this page after the special session.

Frequently asked questions

Does Amendment 3 eliminate property taxes in Florida?

No. Amendment 3 raises the homestead exemption for non-school property taxes to up to $150,000 of assessed value in 2027 and $250,000 in 2028, then indexes it to inflation. Homeowners still pay school taxes, non-school taxes on value above the exemption, and non-ad valorem assessments. The Legislature is expected to set a schedule for further increases, but no full elimination has been enacted as of November 6, 2026.

Does the exemption apply to school taxes?

No. The larger exemption applies only to non-school levies such as county, city and special district taxes. The existing $25,000 exemption for school district taxes continues, so school taxes are still charged on most of your assessed value. On a typical Southwest Florida tax bill, the school portion is a meaningful share, so budget for it when you estimate your 2027 and 2028 payments.

If I rent in Florida now and buy in 2027, do I get the $250,000 exemption?

The Leon and Volusia County Property Appraisers say a person who is a permanent Florida resident by December 31, 2026 qualifies for the higher amount when they later buy and apply for homestead. Residency is the test, not the purchase date. Keep records such as your lease, Florida driver license and voter registration, and confirm with the Lee or Collier County Property Appraiser.

When is the homestead application deadline?

The deadline is March 1 of the tax year. To receive a homestead exemption for 2027, you must own and occupy the home as your permanent residence on January 1, 2027 and file with the county property appraiser by March 1, 2027. If you are also transferring a Save Our Homes benefit from a prior Florida homestead, file the portability form at the same time.

Does Amendment 3 apply to second homes?

Second homes and part-time residences do not get a homestead exemption, and Amendment 3 does not change that. What does change is the yearly assessment cap on non-homestead property, which drops from 10% to 5% starting with the 2027 tax year. Property appraisers say the 5% cap applies to non-school assessed value, while school taxes on non-homestead property stay based on market value.

Will my Cape Coral utility assessment go down?

No. Utility expansion assessments in Cape Coral are non-ad valorem charges, which means they are billed per parcel rather than by value, and exemptions do not reduce them. The North 1 East assessment runs about $32,288 per standard lot before an expected $4,000 grant, with a default annual payment of $3,385 over 30 years, per the Cape Coral Breeze in November 2025.

Can a city shorten the wait for new residents?

Yes, but not right away. Starting January 1, 2030, a county or city may shorten the waiting period for new residents by a two-thirds vote of its governing body if it finds a critical local need, per Kaufman Rossin and the Florida Chamber. Until then, people who establish residency on or after January 1, 2027 should plan on the standard wait before the larger exemption applies.

Talk to Cameron

If you want to be a Florida resident and homeowner before December 31, 2026, the calendar is the hard part. I build the timeline with you: financing or proof of funds, insurance quotes before the offer, a closing date with room for delays, and a checklist for documenting residency and filing homestead by March 1, 2027. Call or text me at (239) 940-2101, or search current listings. City guides: Cape Coral, Fort Myers, Naples, Estero, Bonita Springs and Marco Island. Already own in Florida? Read selling and portability after Amendment 3. See also the condo buyer checklist, the 2027 Citizens flood rule and Fort Myers vs Cape Coral.

Cameron Smith, eXp Realty LLC. Florida Sales Associate, license SL3246540. In real estate full time since 2009 and a second-generation agent. This page is general information, not tax or legal advice. Amendment 3 results are unofficial until certified, and implementing legislation may change the details. Confirm your eligibility and exemption amounts with the Lee County Property Appraiser or Collier County Property Appraiser, and talk to a CPA or attorney about residency, especially if you are leaving another state.

Sources

Southwest Florida area guides

Naples Cape Coral Fort Myers Bonita Springs Marco Island

Buying a Home in Florida After Amendment 3: What Changes in 2027