No, Amendment 3 does not reset every homestead to market value
The sentence being circulated as a new reset is existing constitutional language. Save Our Homes remains in place.
Amendment 3 changes exemptions after assessed value is determined. It does not create a new annual market-value reset for homesteads.
A sentence in Amendment 3 has been shared as proof that every Florida homestead would suddenly be reassessed at market value. That is not what the proposal does.
The disputed sentence comes from existing Article VII language. CS/HJR 1-F prints that language again because the resolution reenacts the broader constitutional section while changing other parts of it.
Reprinting existing law does not create a new command to reassess every home.
Save Our Homes stays
Florida property taxes begin with just value, the property appraiser's estimate of market value under state law. Assessment limits are applied after that.
For eligible homesteads, Save Our Homes generally limits the annual increase in assessed value to the lower of 3 percent or the change in the Consumer Price Index, subject to existing exceptions.
Amendment 3 does not remove that cap.
The order still matters
The basic sequence remains:
- The property appraiser determines just value.
- Assessment limits, including Save Our Homes when they apply, determine assessed value.
- Exemptions determine taxable value for each levy.
- Each taxing authority applies its millage rate.
Amendment 3 changes the exemption at step three. It does not replace the assessment limits at step two.
That is why a house can have a market value, a lower assessed value under Save Our Homes and different taxable values for school and non-school levies all at the same time.
The claim that Amendment 3 creates a new blanket market-value reset is false.
Sources
Notes
- None.
Read next
- What Amendment 3 would actually change The proposal would raise the homestead exemption on non-school taxes, tighten an assessment cap on some other property and make newer Florida residents wait for the larger break.
- Market value, assessed value and taxable value are not the same number Amendment 3 changes an exemption and one assessment cap. It does not set every local tax rate, and it does not produce the same savings for every home.