Last Updated: November 4, 2026

Florida voters approved Amendment 3 in the November 3, 2026 general election, with approximately 62% voting in favor and 38% opposed. The amendment introduces significant changes to Florida's property tax system, including larger homestead exemptions, new residency requirements, and reduced limits on annual assessment increases for non-homestead properties.

Under the Florida Constitution, proposed constitutional amendments must receive at least 60% voter approval to pass. Amendment 3 exceeded that threshold by approximately two percentage points, making it the only one of three proposed constitutional amendments approved by Florida voters in the November 2026 election.

The changes are scheduled to take effect January 1, 2027, with additional homestead exemption increases in 2028 and inflation adjustments beginning in 2029.

For homeowners and prospective buyers in Sanibel, Captiva, Fort Myers, Fort Myers Beach, Estero, Bonita Springs, and Cape Coral, the new law raises important questions about future tax savings, residency requirements, second homes, and local government funding.

The key distinction: Amendment 3 does not eliminate all Florida property taxes. It substantially increases exemptions for qualifying primary residences while preserving school district property taxes.

Did Florida Amendment 3 Pass in 2026?

Yes. Florida voters approved Amendment 3 on November 3, 2026.

According to unofficial election-night results published by the Florida Division of Elections, approximately 62% of voters supported the amendment, while 38% voted against it.

Florida's Constitution requires proposed constitutional amendments to receive at least 60% approval. This is known as a supermajority requirement, meaning a simple majority of 50% plus one vote is not sufficient.

Amendment 3 passed because it exceeded the 60% threshold.

The other two constitutional amendments on Florida's November 2026 ballot did not receive the required voter approval.

The measure, originally advanced by the Florida Legislature as House Joint Resolution 1-F, is officially titled "Increased Homestead Exemption; Lower Cap on Increases in Non-Homestead Property Assessments."

The election-night results remain unofficial until certified.

What Is Florida Amendment 3?

Amendment 3 changes how certain Florida properties are assessed and taxed.

The amendment establishes several major reforms:

  • Increases the non-school homestead exemption to $150,000 in 2027.

  • Increases that exemption to $250,000 in 2028.

  • Provides inflation adjustments beginning in 2029.

  • Establishes different exemption eligibility rules for individuals who become Florida residents after December 31, 2026.

  • Reduces the annual assessment-growth cap on many non-homestead properties from 10% to 5%.

  • Creates a process for counties and municipalities to provide additional homestead exemptions.

  • Establishes restrictions on how counties and municipalities may use property tax revenues.

The changes are intended to provide property tax relief while also limiting future assessment increases on qualifying non-homesteaded properties.

However, the financial benefits will vary significantly depending on whether a property is a primary residence, second home, vacation rental, or investment property.

How Will Amendment 3 Change Florida Homestead Exemptions?

Florida's homestead exemption reduces the taxable assessed value of qualifying primary residences.

Amendment 3 substantially increases the exemption available for property taxes other than school district taxes.

The new schedule is:

2026: Existing exemption rules

2027: $150,000 non-school homestead exemption

2028: $250,000 non-school homestead exemption

2029 and beyond: Inflation-adjusted exemption

These figures represent reductions in taxable assessed value, not dollar-for-dollar reductions in property tax bills.

For example, consider a qualifying Florida homesteaded property with an assessed value of $400,000.

Under the new exemption schedule, the property's taxable assessed value for applicable non-school property taxes could be reduced to approximately:

  • $250,000 in 2027

  • $150,000 in 2028

The actual tax savings will depend on applicable millage rates, assessed values, other exemptions, and individual property circumstances.

School district property taxes will continue under separate exemption rules.

Florida's existing Save Our Homes provision also remains important. It generally limits annual increases in assessed value for qualifying homesteaded properties to 3% or the rate of inflation, whichever is lower.

Does Amendment 3 Eliminate Florida Property Taxes?

No. Amendment 3 does not immediately eliminate every property tax paid by Florida homeowners.

Instead, it significantly increases the exemption from non-school property taxes for qualifying primary residences.

Some homeowners with lower assessed property values may eventually owe little or no non-school property tax because their applicable exemption could exceed their taxable assessed value.

However, school district property taxes remain in place.

Property owners may also continue paying special assessments and other charges that are not eliminated by the amendment.

For homeowners with higher assessed property values, including many waterfront properties on Sanibel and Captiva, the increased exemption could reduce the tax bill without eliminating non-school property taxes entirely.

The distinction between a property's market value and its assessed value is particularly important when estimating potential savings.

What Happens to Florida Residents Who Move After December 31, 2026?

One of the amendment's most consequential provisions concerns when an individual establishes Florida residency.

Qualifying individuals who maintained permanent Florida residence as of December 31, 2026, generally fall under the expanded exemption schedule.

Individuals establishing permanent Florida residency on or after January 1, 2027, face different rules.

Under Amendment 3, newly qualifying residents generally receive the existing non-school homestead exemption initially, with applicable inflation adjustments.

The larger exemption generally becomes available beginning in the fifth year of qualifying for the homestead exemption.

Beginning in 2030, counties and municipalities may be permitted to shorten that waiting period under specified circumstances involving a critical local need and a two-thirds vote of the governing body.

For individuals planning to relocate permanently to Sanibel, Captiva, or elsewhere in Southwest Florida, residency timing may become an important financial consideration.

Buying a Florida home does not automatically establish permanent Florida residency or qualify the property for a homestead exemption.

Prospective buyers should verify eligibility with the county property appraiser and consult a qualified tax or legal professional before making residency decisions based on the new rules.

How Does Amendment 3 Affect Second Homes, Vacation Properties, and Investment Properties?

Second homes, seasonal residences, vacation rentals, and commercial properties generally do not qualify for Florida's homestead exemption.

However, Amendment 3 includes an important provision affecting many non-homestead properties.

Previously, the assessed value of qualifying non-homestead properties could increase by as much as 10% annually, excluding school district assessments.

Amendment 3 reduces that annual assessment-growth cap to 5%.

This change may benefit owners of:

  • Second homes and seasonal residences

  • Vacation rental properties

  • Investment condominiums

  • Commercial real estate

  • Other qualifying non-homesteaded properties

For example, an eligible non-homestead property with a capped assessed value of $600,000 would generally face a maximum annual assessment increase of $30,000 under a 5% cap, compared with $60,000 under the previous 10% cap.

This does not guarantee that property taxes will decrease.

Changes in millage rates, ownership, property improvements, reassessments, and other factors may still affect the final tax bill. School district assessments remain subject to separate rules.

For Sanibel and Captiva, where second homes, vacation properties, and investment condominiums are a significant part of the real estate market, this provision may be particularly relevant.

What Does Amendment 3 Mean for Sanibel and Captiva Property Owners?

Sanibel and Captiva have a distinctive mix of permanent residents, seasonal homeowners, waterfront estates, condominiums, and investment properties.

As a result, Amendment 3 will not affect every property owner in the same way.

Permanent residents: Qualifying homesteaded homeowners may benefit from substantially larger exemptions on non-school property taxes beginning in 2027.

Seasonal homeowners: Owners of second homes generally will not qualify for the expanded homestead exemption but may benefit from the lower annual assessment-growth cap.

Vacation rental owners: Eligible rental properties may benefit from the reduction in the non-homestead assessment cap from 10% to 5%.

Prospective buyers: Residency timing, homestead eligibility, assessed value, and future property taxes will become increasingly important when comparing ownership costs.

Longtime homeowners: Existing Save Our Homes benefits may continue to provide meaningful protection against increases in assessed value, alongside the new exemption provisions.

For buyers considering properties on Sanibel or Captiva, understanding the difference between the seller's current property tax bill and the taxes that may apply after a purchase remains essential.

A property's existing tax bill should not automatically be used as an estimate of what a new owner will pay.

How Could Amendment 3 Affect Local Government Funding?

One of the most debated aspects of Amendment 3 concerns its potential impact on local government revenue.

An October 2026 Tax Foundation analysis cited statewide estimates of approximately $4.9 billion in reduced local property tax revenue during the first year and approximately $8.7 billion in the second year.

Longer-term projections suggested annual revenue reductions could approach $11.8 billion by tax year 2031.

These figures are statewide estimates, not projections specifically for Sanibel, Captiva, or Lee County.

Supporters of Amendment 3 argue that the changes provide needed financial relief to homeowners facing rising property values, insurance expenses, and overall housing costs.

They also argue that reducing property tax burdens encourages greater accountability in local government spending.

Opponents have expressed concerns that lower property tax revenue could create financial pressure on counties and municipalities, potentially affecting public services, infrastructure, emergency response, or future fees.

Amendment 3 also restricts how counties and municipalities may use property tax revenues, directing expenditures toward specified purposes, including public safety, infrastructure, education-related purposes, natural resources, flood control, certain government obligations, and other authorized operations.

The actual effects will depend on future budgets, implementing legislation, and decisions by state and local governments.

What Could Amendment 3 Mean for Sanibel's City Budget?

For Sanibel, property taxes help support important municipal functions and community priorities.

These include public safety, infrastructure, stormwater management, environmental protection, and other services.

Because Sanibel has a substantial number of homesteaded residential properties, changes in taxable assessed values could affect future municipal revenue.

However, the extent of any reduction will depend on the city's tax base, applicable exemptions, millage rates, and budget decisions.

The City of Sanibel will need to evaluate the amendment's financial implications as it develops future budgets.

Captiva property owners may also be affected by changes involving Lee County and other applicable taxing authorities.

It would be premature to predict specific service reductions, new fees, or changes in local tax rates before governing bodies evaluate the law and make budget decisions.

For island property owners, following future municipal and county budget discussions will be important.

Will Amendment 3 Change Property Taxes Throughout Lee County?

Yes. Amendment 3 applies statewide, including Lee County and the municipalities of Sanibel, Fort Myers, Fort Myers Beach, Cape Coral, Bonita Springs, and Estero.

However, actual tax savings will vary by property.

Two homes with similar market values may have very different taxable assessed values because of differences in ownership history, homestead exemptions, Save Our Homes benefits, and other factors.

Local millage rates also differ by taxing jurisdiction.

A qualifying homeowner in Cape Coral may experience different dollar savings than a similarly valued homeowner in Sanibel or Fort Myers.

Owners should review their individual property records and applicable taxing authorities rather than relying on generalized statewide savings estimates.

Could Amendment 3 Change Florida Real Estate Buying and Selling Trends?

Beyond individual property tax savings, Amendment 3 raises some interesting questions about Florida's real estate market. Could more seasonal homeowners establish permanent residency? Might longtime homeowners become less inclined to sell? Could the new assessment limits influence second-home purchases or investment decisions?

While it's too early to predict how the market will respond, these possibilities are worth exploring.

Food for Thought: Could Florida Amendment 3 Change How People Buy and Sell Real Estate? explores eight potential trends worth watching as the new property tax rules take effect.

What Should Florida Homeowners Do Before 2027?

With Amendment 3 approved, homeowners should begin reviewing their current property tax information and understanding how the new rules may apply.

Important steps include:

  1. Verify homestead eligibility. Confirm that the property has the appropriate homestead exemption if it qualifies as a permanent primary residence.

  2. Review assessed and taxable values. These figures, rather than market value alone, help determine property taxes.

  3. Examine the annual TRIM Notice. Florida's Truth in Millage Notice provides information about property assessments and proposed tax rates.

  4. Understand school versus non-school taxes. The expanded exemption applies to non-school property taxes.

  5. Review residency requirements. Individuals relocating to Florida should understand how the December 31, 2026 residency provisions may affect eligibility.

  6. Monitor implementation. Additional legislation and administrative guidance may clarify how the new provisions will be applied.

Lee County homeowners can review their property information through the Lee County Property Appraiser.

Frequently Asked Questions About Florida Amendment 3

Did Florida Amendment 3 pass in November 2026?

Yes. Florida voters approved Amendment 3 on November 3, 2026, with approximately 62% voting in favor and 38% opposed, according to unofficial election-night results.

Why did Amendment 3 need 60% of the vote to pass?

Florida's Constitution requires proposed constitutional amendments to receive at least 60% voter approval. This supermajority requirement is higher than the simple majority required in many other elections. Amendment 3 exceeded the threshold by approximately two percentage points.

When does Florida Amendment 3 take effect?

The amendment takes effect January 1, 2027. The expanded non-school homestead exemption begins at $150,000 in 2027 and increases to $250,000 in 2028.

Is Florida eliminating property taxes in 2027?

No. Amendment 3 increases exemptions from non-school property taxes for qualifying primary residences. School district property taxes remain in place.

Will every Florida homeowner receive a $250,000 exemption?

No. Eligibility depends on homestead qualification, residency requirements, and the applicable tax year. The $250,000 non-school exemption is scheduled for 2028.

Will Amendment 3 reduce property taxes on vacation homes?

Vacation homes generally do not qualify for the expanded homestead exemption. However, many eligible non-homestead properties will benefit from the lower annual assessment-growth cap of 5%.

Does Amendment 3 benefit investment property owners?

Potentially. The amendment reduces the annual assessment-growth cap for many non-homestead properties from 10% to 5%, excluding school district assessments. Actual tax bills may still increase.

Does Amendment 3 change Florida's Save Our Homes benefit?

The existing Save Our Homes assessment limitation for qualifying homesteaded properties remains separate from the expanded exemption. Amendment 3 also reduces the assessment-growth cap on many non-homestead properties.

Does purchasing a Florida home before December 31, 2026, guarantee the larger exemption?

No. Property ownership alone does not establish permanent Florida residency or homestead eligibility. Individuals should verify the applicable requirements before making financial decisions.

Will Amendment 3 affect Sanibel and Captiva property taxes?

Yes. Qualifying homesteaded homeowners may receive larger non-school property tax exemptions, while eligible second homes and investment properties may benefit from the reduced assessment-growth cap.

Could Amendment 3 affect local government services?

Potentially. Reduced property tax revenues could influence future budget decisions. However, the actual effects will vary by community and depend on future decisions by state and local officials.

How can homeowners estimate their property tax savings?

Homeowners should review their property's assessed value, current exemptions, and applicable millage rates. The county property appraiser can provide assessment and exemption information, while the tax collector provides tax bill information.

What Happens Next for Florida Property Taxes?

With Amendment 3 approved by voters, attention now turns to implementing the constitutional changes.

The first expanded homestead exemption is scheduled to take effect January 1, 2027, followed by a larger exemption in 2028 and inflation adjustments beginning in 2029.

Additional state legislation and administrative guidance may clarify implementation details, including procedures for local governments to offer additional exemptions.

For homeowners, the most important next step is understanding how the changes apply to their individual property.

For prospective buyers, especially those relocating to Southwest Florida, the relationship between residency, homestead eligibility, assessed value, and future tax obligations deserves careful consideration.

Pfeifer Realty Group will continue monitoring property tax developments affecting Sanibel, Captiva, Fort Myers, Fort Myers Beach, Estero, Bonita Springs, and Cape Coral as the new law is implemented.

Editor's note: This article was updated November 4, 2026, to reflect the November 3 election results and the approval of Amendment 3. Election-night results are unofficial until certified. Property tax information is provided for general educational purposes and should not be considered legal or tax advice. Property owners should consult the appropriate property appraiser or qualified professional about individual circumstances.