Amendment 3 ballot measure would triple homestead exemption in Northeast Florida

A statewide ballot measure on the November ticket would deliver the largest expansion of Florida's homestead exemption in decades, nearly quintupling the tax break for Northeast Florida homeowners while reducing annual assessment increases on rental properties, second homes, and commercial real estate.

Amendment 3 would raise the homestead exemption on non-school property taxes from approximately $51,411 to $150,000 in 2027 and $250,000 in 2028, with annual inflation adjustments beginning in 2029. The measure would also cut the annual cap on assessed-value increases for non-homestead property from 10 percent to 5 percent for non-school taxes. The amendment requires 60 percent of the vote to pass.

What's on the ballot

Florida Realtors, the statewide trade association, briefed members on the amendment during an October webinar featuring Tallahassee tax attorney French Brown, who has advised the organization on Florida tax policy for more than a dozen years. Florida Realtors President Chuck Bonfiglio and CEO Margy Grant hosted the session.

Both changes apply only to non-school property taxes. School taxes—levied by county school boards—would not be affected, meaning homeowners would continue to pay school levies regardless of their home's value. A homeowner with a $250,000 property would still owe school taxes under the amendment.

Current homestead owners would not need to file any new paperwork if the amendment passes. The increased exemption would appear automatically on 2027 TRIM (Truth in Millage) notices, the annual property-tax statements mailed to Florida property owners in late summer.

December 31, 2026, is the critical residency date. Anyone whose primary residence is in Florida on that date qualifies for the full enhanced exemption, including renters who later purchase a home. Brown advised renters to retain proof of residency—driver's licenses, voter registration cards, or utility bills—to establish eligibility. People who move to Florida after December 31, 2026, would receive the current exemption for their first four years and the enhanced exemption beginning in year five.

The amendment does not alter Save Our Homes, the 1995 law that caps annual taxable-value increases on homesteaded property at 3 percent or the rate of inflation, whichever is lower. Portability, which allows homeowners to transfer up to $500,000 of accumulated Save Our Homes benefit to a new primary residence, also remains unchanged.

What it means for Jacksonville and Duval County homeowners

For homeowners in Jacksonville and the rest of Duval County, the measure would reduce the non-school portion of the property-tax bill—the slice that funds city and county general services, fire rescue, libraries, parks, and infrastructure. The school levy, set by the Duval County School Board, would remain unaffected.

The practical savings would vary by property value, millage rate, and jurisdiction. A homeowner in Jacksonville's consolidated city limits, for example, pays city, county, and special-district millage on top of the school levy. The expanded exemption would apply to the city and county portions but not to schools. Homeowners in the beaches communities—Atlantic Beach, Neptune Beach, Jacksonville Beach—and Baldwin pay their own municipal millage as well as county millage; again, the exemption would cover the non-school layers.

The timing of the measure also matters in the context of recent valuation surges across Northeast Florida. The Duval County Property Appraiser's office has recorded year-over-year increases in assessed values through much of the 2020s, reflecting a regional real-estate market driven by in-migration, low inventory, and Florida's relative affordability compared to higher-cost metros. For homeowners whose assessed values have climbed despite Save Our Homes protections on taxable value, the higher exemption would chip away at the gap.

Brown noted during the webinar that local property-tax collections statewide have roughly doubled in the last seven years, growing from $32 billion to $60 billion—a pace far exceeding inflation and population growth. He explained that many counties and cities held millage rates flat during that period, but rising property values translated into higher tax bills for homeowners and larger budgets for local governments.

Impact on rental housing and the investment market

The second provision—lowering the annual cap on non-homestead assessed-value increases from 10 percent to 5 percent—would apply to second homes, rental properties, commercial real estate, and vacant land. This change targets the non-school portion of the tax bill for properties that do not receive homestead protection.

For landlords and multifamily investors in Jacksonville's booming Southside apartment corridors, the Baymeadows office-and-residential belt, and emerging rental projects in the Rail Yard District and eTown, the 5 percent cap would slow the year-over-year growth in non-school property taxes. It would not freeze assessments—values can still rise—but the annual increment would be cut in half for the non-school levy.

Whether that translates into lower rents or higher returns depends on market dynamics the amendment does not control. Landlords facing slower tax-bill growth may retain more cash flow, potentially making rental-property investment more attractive in a high-interest-rate environment. Conversely, if developers and institutional investors view the cap as a long-term cost advantage, it could spur additional rental construction, adding supply to a market where inventory has lagged demand.

Commercial property owners—shopping centers along Blanding Boulevard, industrial buildings near Cecil Commerce Center and JAXPORT, office parks in Deerwood—would see the same 5 percent cap apply to non-school taxes. The measure does not change how those properties are assessed or the school portion of the levy.

Questions for local governments and services

Amendment 3 requires local governments to use property taxes for public safety and infrastructure. Beyond that mandate, the amendment leaves budget decisions to cities, counties, and special districts. Brown emphasized during the webinar that every community is different and local leaders will decide how best to manage budgets if the measure passes.

In Jacksonville and Duval County, the consolidated government funds police, fire rescue, road maintenance, libraries, parks, and general administration from property taxes alongside other revenue streams such as sales tax, utility taxes, and fees. The City Council sets the annual millage rate each budget cycle. If Amendment 3 shrinks the non-school property-tax base by expanding exemptions, the Council would face a choice: cut spending, find new revenue, raise the millage rate on the remaining taxable base, or some combination.

Smaller municipalities in the coverage area—Green Cove Springs in Clay County, Fernandina Beach and Yulee in Nassau County, Flagler Beach in Flagler County—operate on tighter margins and rely heavily on property taxes. The impact would depend on each city's mix of homestead and non-homestead property. A beach town with many second homes and vacation rentals, for instance, would see a different fiscal effect than a suburban city dominated by primary residences.

Brown said during the webinar that Realtors will have an important role as cities and counties decide how to implement the amendment. That suggests an active period of budget hearings, millage-setting workshops, and public input once election results are certified.

What happens next

Amendment 3 appears on the November 2026 ballot statewide. It requires 60 percent approval to become part of the Florida Constitution. If it passes, the first phase—raising the homestead exemption to $150,000—would take effect for the 2027 tax year, with TRIM notices mailed in August 2027. The exemption would increase to $250,000 for the 2028 tax year, and inflation indexing would begin in 2029.

The 5 percent cap on non-homestead property would likewise take effect in 2027. County property appraisers across the state would implement both changes through their annual assessment and exemption processes; no new state agency or oversight body is created by the amendment.

Voters can track the measure as Amendment 3 on their sample ballots. Early voting in Florida runs for approximately two weeks before Election Day, and vote-by-mail ballots are available upon request through county supervisors of elections.

The outcome will help define the next chapter of Florida's decades-long effort to balance property-tax relief for homeowners with the revenue needs of fast-growing local governments—a tension especially acute in Northeast Florida, where new rooftops, industrial projects, and infrastructure demands continue to reshape county budgets and the tax base that funds them.