Florida Amendment 3 (2026): Property Tax Savings—and What You’d Still Owe
My Lake Mary home could save about $1,816 a year—and still have a $6,355 tax bill. See what changes, what stays, and what the numbers could mean for your home.
2028 illustration using unchanged 2026 assessed value and rates, continued eligibility and standard homestead. Excludes separate assessments and early-payment discounts.
The basic idea: Florida’s proposed Amendment 3 would increase the homestead exemption used to calculate non-school property taxes for qualifying homeowners. School taxes and separate assessments could still remain.
I started with my own Lake Mary home, then compared it with a hypothetical home assessed at $200,000. The examples below show both sides: what a homeowner could save and the tax bill that would remain.
For a retired household living on Social Security and a pension, the savings could help with everyday expenses. For a buyer, the first step is understanding which assessment to use.
Buying a home? Read this first.
All dollar examples hold the assessed value and tax rates unchanged and assume continued eligibility for standard homestead. They exclude early-payment discounts and separate assessments unless entered in the calculator. They illustrate the exemption change; they are not promised future bills.
The larger exemption is intended for qualifying homesteads of people who are permanent Florida residents by December 31, 2026. Later arrivals have a different rule, explained below.
My home: about $1,816 saved, $6,355 still owed.
My 2026 property-appraiser record shows an assessed value of $610,216 before exemptions and already reflects homestead. That record is the starting point for this illustration. It is not a prediction of what the home will be assessed at in 2027 or 2028.
| Taxing authority | 2026 baseline | 2027 illustration | 2028 illustration |
|---|---|---|---|
| Seminole County | $3,004 | $2,474 | $1,936 |
| City of Lake Mary | $2,006 | $1,652 | $1,293 |
| St. Johns River water district | $100 | $83 | $65 |
| School taxes | $3,061 | $3,061 | $3,061 |
Whole-dollar rounding can cause individual rows to differ from the total by $1. School taxes stay constant in this illustration because the assessment and school rate are held constant. This does not freeze future school bills. The scenario assumes the property continues to qualify as a homestead.
My total bill falls by about 22% in this illustration. If you see a figure of roughly 36%, that is the reduction in the non-school part of this particular bill. It is not a 36% reduction in my whole bill or in the county’s budget.
Florida Amendment 3 Property Tax Calculator
Choose your county and tax area, then enter your assessed value before exemptions. Buying? Use a post-purchase estimate, not the seller’s assessment. Read the buyer warning. Your entries stay in your browser.
Your tax bill has three different parts.
One tax bill can collect money for several different purposes. That is why a bigger exemption does not necessarily bring the total to zero.
1. School property taxes
The proposed larger exemption does not apply here. The standard school-tax homestead exemption remains $25,000.
2. Non-school property taxes
This is where the larger exemption applies: county, city and applicable special-district taxes. The total exemption would become $150,000 in 2027 and $250,000 in 2028 for eligible homeowners. These are local taxes. Beginning in 2029, the $250,000 amount would adjust upward for positive inflation.
3. Separate assessments
Your bill may also contain charges for services or district obligations, such as garbage or certain community development district assessments. A homestead exemption does not remove these non-ad valorem charges.
“Exemption” means value removed from the tax calculation. It is not a $250,000 payment, and it is not $250,000 added on top of the existing homestead exemption. For a home assessed at $200,000, a $250,000 non-school exemption leaves zero value to tax for those levies. The school calculation is separate.
A hypothetical household · A $200,000 assessed home
A $200,000 assessment: about $1,359 saved, $915 still owed.
At the Lake Mary rates used here, a qualifying home assessed at $200,000 would have no non-school property tax left in the 2028 illustration. It would still owe about $915 in school taxes, plus any separate assessments. Here is how that compares with homes assessed at higher amounts.
| Assessed value | 2026 baseline | 2028 estimate | Annual saving | Bill reduction |
|---|---|---|---|---|
| $200,000 | $2,274 | $915 | $1,359 | 60% |
| $250,000 | $2,993 | $1,177 | $1,816 | 61% |
| $500,000 | $6,587 | $4,771 | $1,816 | 28% |
| $610,216 | $8,171 | $6,355 | $1,816 | 22% |
The last three homes each save about $1,816 because they can use the full additional exemption. The $200,000 home saves fewer dollars, but gets a much larger percentage reduction than my home. That is why a blanket claim that everyone saves 10%, 20% or 60% is misleading.
Assessed value is also different from what a home could sell for. Florida’s Save Our Homes cap can leave a longtime owner with an assessment well below market value.
For a retired homeowner, $113 a month can matter.
Now put that $200,000 example into a household budget. Imagine a retired couple who have owned their home for years and receive a combined $3,000 a month from Social Security and a pension. They qualify for the larger exemption and have no additional personal property-tax exemptions.
Their illustrated saving of $1,359 a year works out to about $113 a month. That is nearly 4% of their monthly income available for groceries, prescriptions, utilities or another expense. On an income of less than $3,000, the same saving would take up an even bigger share of their budget.
But this is not a seniors-only tax break. A working homeowner with the same assessment, rates and exemptions would get the same saving. Longtime ownership can help explain a smaller assessment; being retired does not automatically make someone eligible or give them the biggest dollar benefit.
Existing senior, veteran or other exemptions can change the result. Someone already fully exempt from property taxes would not gain the saving shown here. And $113 is a monthly equivalent of the annual saving; an escrow payment changes on the servicer’s schedule.
Buying? The seller’s tax bill is not your budget.
Before making an offer, find out what the taxes would be for you.
A house advertised for $500,000 might have a much lower assessment because the seller has owned it for years. A buyer generally faces reassessment after the ownership change, with their own exemptions and any applicable Save Our Homes portability considered. The seller’s assessment does not simply become yours.
For illustration: if your post-purchase assessment is $500,000, a $250,000 non-school exemption still leaves $250,000 exposed to non-school taxes. The school-tax calculation remains separate. A $500,000 purchase price does not itself establish an exact $500,000 assessment.
Use the local property appraiser’s buyer estimator and have the full tax, insurance and association-cost picture reviewed before relying on a monthly payment. The Florida Department of Revenue’s first-time homebuyer guide explains reassessment and why the former owner’s bill can mislead a buyer.
If you are planning a purchase, our Florida first-time homebuyer guide explains the broader buying process and costs to consider.
Residency timing matters too. People who become permanent Florida residents on or after January 1, 2027 would start with a $50,000 non-school exemption, adjusted for positive inflation beginning in 2028. The larger amount would first become available in the fifth year of maintaining a homestead exemption, to the extent permitted by the U.S. Constitution. Existing Florida residents do not have to own a home by the end of 2026 to potentially qualify later.
What about schools, police and fire?
The larger exemption does not apply to school-district taxes. It does apply to eligible non-school taxes that help fund police, fire, roads and other local services.
So there are two things to consider: homeowners keep more money, and local governments collect less at unchanged rates. The unanswered question is how each government would adjust. It could change spending, use other revenue or pursue rate or fee changes where allowed. Those decisions could affect services and the saving a homeowner ultimately sees.
Having reserves does not settle that question. Some money is restricted or already committed, and savings can cover a gap only for so long. An annual revenue reduction keeps coming back. We cannot conclude from a reserve balance that there is enough waste to cut—or that a particular service must be reduced.
For homeowners, the practical point is simple: the proposed exemption is a tax break you can estimate. Future budget decisions are something to watch.
Show the Orange and Seminole county projections and sources
These are the counties’ own planning estimates of recurring annual revenue losses at full phase-in, not our forecasts. Orange projects about $275 million in total annual losses. Seminole projects about $119 million, with its full $250,000 exemption scenario reflected in FY 2029, following the 2028 tax-year change.
| County / revenue affected | Projected annual loss | Scope |
|---|---|---|
| Orange countywide levies | $157 million | General, capital projects and parks components |
| Orange Fire Rescue | $72 million | Unincorporated fire taxing district |
| Orange sheriff levy | $46 million | Unincorporated taxing district |
| Seminole general fund | $85 million | General-fund revenue |
| Seminole fire fund | $33 million | Fire-fund revenue |
| Seminole roads fund | $1 million | Roads-fund revenue |
Orange source: FY 2027 public-hearing Budget in Brief, “A Changing Property-Tax Landscape” in the introduction. Its countywide millage combines general, capital projects and parks components. Seminole source: August 25 presentation, slide 11 for the fund breakdown and the FY 2029 phase-in discussion. City budgets are separate.
What the reserve figures do—and do not—show
These FY 2027 reserve lines describe an earlier budget year. They do not forecast available balances at full phase-in. Orange’s general-fund reserve also covers a narrower set of funds than its countywide revenue-loss figure.
| Budget fund | Budgeted reserves | What the figure tells us |
|---|---|---|
| Orange general revenue | $130.4 million | General fund only; not all countywide levy components |
| Orange Fire / EMS | $79.6 million | Budgeted fire-fund reserve line |
| Orange unincorporated tax district | $0 | Reserve line in this district’s budget—not all Sheriff’s Office resources |
| Seminole general fund | $80.6 million | FY 2026–27 budgeted reserve line |
| Seminole fire protection | $15.3 million | FY 2026–27 budgeted reserve line |
Reserve sources: Orange’s budget summary; Seminole FY 2026–27 second public-hearing budget, countywide reserves table, page 16. These are budgeted reserve lines, not audited unrestricted cash. The $0 Orange district reserve is not a statement that the entire Sheriff’s Office has no resources.
Florida Amendment 3: Common Questions
Does Amendment 3 eliminate Florida property taxes?
No. It expands an exemption for qualifying homesteads. Some homes could owe no non-school property tax by 2028, but school taxes and separate assessments can remain. The Legislature would have to provide a uniform procedure allowing counties and cities to increase exemptions up to full assessed value for their own levies. Special districts could do so with referendum approval. Those further exemptions would require additional action; they would not automatically eliminate everyone’s taxes in 2028.
Is $250,000 taken off on top of my existing exemption?
No. It is the total proposed non-school homestead exemption. For a home using the full $51,411 standard non-school exemption in 2026, the additional exempt value in the 2028 comparison is $198,589.
Will my November 2026 bill change if it passes?
No. The vote is November 3, 2026, and requires at least 60% approval. The first scheduled increase would affect the 2027 tax year, generally billed in November 2027, followed by the second increase for the 2028 tax year.
Does my home have to be paid off?
No. The proposed benefit is based on homestead eligibility and other qualifying rules, not whether you have a mortgage.
What about rentals, second homes and businesses?
They do not receive this expanded homestead exemption. A separate provision would lower the annual non-school assessment-growth cap from 10% to 5%. That limits assessed-value growth, not the tax bill or rent.
Will my mortgage payment immediately drop?
Not necessarily. If taxes are escrowed, the servicer’s escrow analysis and any shortage or surplus affect when the payment changes. This does not reduce mortgage principal and interest, homeowners insurance or HOA dues.
Does a longtime owner automatically qualify?
No. The property must qualify for homestead, and the residency and other applicable rules matter. Save Our Homes can limit assessment growth for an existing homestead, but a change in ownership, improvements or portability can change the assessment. Retirement is not a requirement.
Does the $250,000 exemption rise with inflation?
Yes. Beginning in 2029, it would be adjusted for positive inflation under the amendment’s formula.
Does a fire-district tax count?
An applicable non-school ad valorem fire-district levy is part of the exemption calculation. A separate non-ad valorem fire assessment is different. Check the actual lines on your bill rather than assuming every charge labeled “fire” receives the same treatment.
Does it guarantee funding for police and fire?
No replacement funding amount is guaranteed by the amendment. It sets broad permitted uses for county and municipal property-tax revenue, including public safety, education, infrastructure and administration. Other expenditures may be approved unless prohibited by general law. Local budget decisions would still determine funding.
Can higher tax rates reduce the savings?
Yes. Future rates and separate charges matter. That is why the estimator labels its fixed-rate assumption beside the results.
Before you count on a lower payment.
Check your assessed value, your homestead eligibility and every line on your tax bill. If you are buying, get an estimate based on the ownership change and your own exemptions.
A useful estimate should give you two numbers: what you could save and what you would still owe. You need both to decide what this proposal would mean for your budget.
How the estimates were calculated.
For the real-home illustration, the combined non-school rate is 9.1439 mills. The school rate is 5.231 mills. The 2026 baseline uses the standard $25,000 school exemption and up to $51,411 in non-school homestead exemptions.
Non-school taxable value is $558,805 in the baseline, $460,216 in the 2027 illustration and $360,216 in 2028. School taxable value is $585,216 throughout. Multiply each taxable value by its applicable millage divided by 1,000, then add any separate assessments.
The calculator applies the existing exemption bands rather than subtracting $51,411 blindly from small assessments: the first $25,000 is exempt, with up to $26,411 additionally exempt above $50,000. It floors taxable values at zero. It does not model special personal exemptions or new-resident waiting periods.
The baseline freezes 2026 law and exemption amounts. It is not a forecast of 2027 or 2028 taxes if the amendment fails. Future CPI adjustments, assessment changes and rates could alter either side of a future-year comparison. Monthly amounts are annual amounts divided by 12.
Educational estimate only. Actual liability depends on assessed value, eligibility, adopted rates, assessments and implementing legislation. Have unusual exemptions, ownership changes or portability reviewed with the property appraiser. Check the final tax bill and current property-appraiser guidance before relying on an estimate.
Sources you can check.
- Florida Department of State: updated 2026 amendment booklet — current ballot summary, page 12; full text, pages 13–23.
- Florida Legislature: enrolled CS/HJR 1F — proposed constitutional provisions.
- Florida Division of Elections — current ballot listing and wording.
- Volusia County Property Appraiser: Amendment 3 FAQ — eligibility, exemptions, timing and estimator limitations.
- Florida Department of Revenue: inflation-adjusted exemption — 2026 additional exemption.
- Seminole County Property Appraiser — property-tax initiative information. The real-home calculation uses the owner’s 2026 appraisal record.
- Florida Department of Revenue: first-time homebuyer guide — reassessment and portability.
- Orange County FY 2027 public-hearing budget — reserves and projected revenue impacts.
- Seminole County FY 2026–27 second public-hearing budget — budgeted reserves.
- Seminole County August 25 impact presentation — affected-fund revenue estimates, slide 11.
Buying a home? Put the whole payment together.
Property taxes are one part of the cost. Before you commit to a home, look at the mortgage payment, homeowners insurance, HOA dues and any separate assessments together.
- See current mortgage rate examples to understand the financing side of your budget.
- Compare conventional loans, FHA loans and VA loans to see which options may fit your situation.
- Read the Florida first-time homebuyer guide for help preparing for a purchase.
- Visit Mortgage Expert to learn how I help Florida buyers compare their mortgage options.
A possible tax saving is not a substitute for a verified homebuying budget. Confirm the property’s estimated taxes with the property appraiser.