Homeowners get the direct break. Renters do not.
The size of the benefit depends on assessed value and local tax rates. Newer Florida residents would wait, while some rental and commercial property would get a tighter assessment cap.
Eligible homestead owners receive the direct exemption on covered non-school lines. Renters do not receive that exemption on the home they lease, though covered rental property may benefit from the lower assessment-growth cap.
Amendment 3 would not spread the same tax break evenly across every household. The direct benefit goes to eligible homestead owners, and the amount depends on how much taxable value they have left on each covered levy.
Current homestead owners
An eligible homeowner could use the larger exemption on city, county, fire and other covered non-school taxes. A lower-value homestead may run out of taxable value before using the full exemption. A higher-value homestead can use more of it.
That is why there is no single savings number for every homeowner. Assessed value and local millage still matter.
People who move to Florida after 2026
The ballot summary says people who were not Florida residents on Dec. 31, 2026 would begin under the current exemption and reach the larger one in their fifth year.
The state still has to spell out some administrative details, including how the waiting rule applies in less straightforward ownership situations.
Renters
Renters do not claim the homestead exemption on the property they lease. There is no direct homestead tax cut for a tenant.
But that is not the end of the property-tax story. Specified rental property may fall under the amendment's tighter 5 percent assessment-growth cap on non-school lines. Whether any tax difference reaches a tenant through rent is unknown. The amendment does not require a landlord to pass it through.
Commercial and other non-homestead property
Specified commercial and other covered real estate would also move from a 10 percent assessment-growth cap to 5 percent on non-school lines. That matters only when rising just value would otherwise push assessed value above the new cap.
School levies remain outside both changes.
For qualifying homestead owners, the direct result is clear: taxable value falls on covered lines. What happens after that depends on assessed value, millage and any later decisions by local governments.
Situations
Sources
Notes
- None.
Read next
- Why Amendment 3 would change some lines on your tax bill, not all of them Property-tax bills are built from separate city, county, school and district levies. The larger homestead exemption would apply to covered non-school lines while the school exemption stays at $25,000.
- Orange County says Amendment 3 would cost $165 million. It has not shown the math. The county's estimate is official, but the public workbook and assumed millage are not. Its fire and sheriff figures are levy projections, not adopted department cuts.