Florida Amendment 3 Explained: What It Means for Tampa Bay Homeowners

On November 3, 2026, Florida voters will decide Amendment 3, the property tax measure the Legislature placed on the ballot in June. If you own a home in Hillsborough, Pinellas or Pasco County, or you're thinking about buying one, here is a plain-English look at what it would and would not change. This is not a recommendation on how to vote; it's a guide to what's on the ballot.

What would change for homeowners with a homestead exemption?

Today, a Florida homestead exemption takes up to $50,000 off your home's assessed value. If Amendment 3 passes, the exemption for non-school property taxes would rise to $150,000 in 2027 and $250,000 in 2028, with inflation adjustments starting in 2029. According to the Hillsborough County Tax Collector, current homestead owners would not need to file anything new; the larger exemption would apply automatically.

Would school taxes go down?

No. School taxes are not affected, and the school portion of the exemption stays the same whether or not the amendment passes.

What about Save Our Homes and portability?

They stay as they are. The Save Our Homes cap still limits annual increases in a homestead's assessed value to 3% or the change in CPI, whichever is lower, and portability rules don't change.

What would change for second homes, rentals and investment property?

Non-homestead property, including second homes, rentals, vacant land and commercial property, would see its annual assessment-growth cap drop from 10% to 5%. That doesn't freeze taxes, but it slows how fast the taxable value can climb.

Is there anything different for people moving to Florida?

Yes. The bigger exemption applies to people who are Florida residents as of December 31, 2026. Anyone who establishes permanent residence on or after January 1, 2027 would start with an exemption of up to $50,000 for non-school taxes, adjusted for inflation, and would qualify for the full amount beginning in the fifth year of their exemption. Starting in 2030, a county or city could shorten that wait by a two-thirds vote of its governing body. If you're relocating to Tampa Bay, ask the Property Appraiser how this would apply to you.

When would tax bills change?

Amendment 3 needs at least 60% of the vote to pass. If approved, it takes effect January 1, 2027, so the first changes would show up on 2027 tax bills (mailed in late 2027). The November 2026 bill you're about to receive is not affected either way.

What this means if you're buying or selling

• Buyers: when you estimate taxes on a home, use the current $50,000 exemption until the result is known, and remember the seller's tax bill reflects their exemption and Save Our Homes cap, not yours.
• Sellers: if you plan to buy again in Florida, portability still lets you carry Save Our Homes savings to your next home.
• Investors: the 5% cap on non-homestead assessments could change long-term holding math on rentals.

Every property is different, and savings depend on your taxable value, local millage rates and other assessments. For an estimate on your home, contact your county Property Appraiser. If you're weighing a move in Tampa Bay and want to talk through how taxes fit into the numbers, call me at (813) 802-7777.

Sources: Hillsborough County Tax Collector, "What Amendment 3 Means for Your Property Taxes"; Florida Senate bill summary of CS/HJR 1-F (2026 Special Session F). Information current as of October 2026; ballot outcome pending.