Webinar: The nuts and bolts of how Amendment 3 improves affordability

Florida Realtors® members recently got a plain-language look at how Amendment 3 could provide meaningful tax relief and help improve affordability. The webinar featured Tallahassee tax attorney French Brown, who has advised the association on Florida tax policy for more than a dozen years. 2026 Florida Realtors President Chuck Bonfiglio and CEO Margy Grant hosted the session.

The amendment will be on the November ballot and needs 60% of the vote to pass. Here are some of the key points members heard during the webinar:

Bigger homestead exemption. The exemption on non-school property taxes, now about $51,411, would rise to $150,000 in 2027 and $250,000 in 2028. Starting in 2029, it would be adjusted for inflation.

Lower cap for non-homestead property. For second homes, rentals, commercial property and vacant land, the annual cap on increases in assessed value would drop from 10% to 5% for non-school taxes.

Schools aren't affected. Both changes apply only to non-school taxes. That means homeowners would still pay school taxes, including owners whose homes are valued at $250,000 or less.

Save Our Homes and portability stay the same. "Amendment 3 does nothing to change Save Our Homes," Brown said. Portability also remains in place.

Current homestead owners don't need to do anything. If the amendment passes, owners who already have a homestead exemption would see the increase on their TRIM notices automatically.

Dec. 31, 2026, is the date that matters. Anyone whose primary residence is in Florida on that date qualifies for the full benefit, and that includes renters who buy a home later. Brown advised renters to keep proof of residency, such as a driver's license, voter registration or utility bills. People who move to Florida after that date would receive the current exemption for their first four years and the enhanced exemption starting in year five.

Local governments will evaluate their own budgets and priorities. Every community is different, and local leaders will decide how best to manage their budgets when Amendment 3 passes. Brown noted that local property-tax collections have roughly doubled in the last seven years, growing from $32 billion to $60 billion, far outpacing inflation and population growth. He also explained that while many counties and cities kept tax rates flat during that time, the growth in property values meant higher taxes for homeowners and bigger budgets for local governments.

Core services are spelled out. The amendment requires local governments to use property taxes for public safety and infrastructure. Brown said Realtors will have an important part to play as cities and counties decide how to put the amendment into effect.

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