Florida’s November Property Tax Vote: What Homeowners, Buyers and Landlords Should Know

By Andi Kay | South Florida Realtor, Douglas EllimanUpdated October 5, 2026 | Approximately 5-minute read

Property taxes are an important part of the cost of owning a home in South Florida. Whether you live in a Boca Raton condo, own a home in Delray Beach or rent out an investment property in Boynton Beach, understanding a proposed tax change can help you plan your housing budget.

This November, Florida voters will consider Amendment 3, a proposed constitutional amendment addressing homestead exemptions, property assessments and local-government spending. It will appear on the November 3, 2026 ballot and requires at least 60% voter approval. If approved, its initial changes would begin January 1, 2027. (townofpalmbeach.com⁠)

The question many property owners are asking is: Would this help only homeowners with homestead, or could landlords benefit, too?

Both groups could benefit, but in different ways.

What does a homestead exemption actually do?

A homestead exemption reduces the portion of a qualifying primary residence’s assessed value that is subject to property taxes. Rental properties and vacation homes generally do not qualify. (ocfl.net⁠)

Think of an exemption as a reduction in the value used to calculate certain taxes. An exemption of $150,000 does not mean receiving $150,000 or saving that amount on your tax bill.

It also helps to distinguish three figures: what a home might sell for, its assessed value for tax purposes and its taxable value after applicable exemptions. When reviewing potential savings, the assessed and taxable values are the figures to examine.

What would change for qualifying homeowners?

Amendment 3 would increase the homestead exemption applicable to non-school property taxes to:

• $150,000 in 2027.

• $250,000 in 2028.

• An amount adjusted annually for positive inflation beginning in 2029.

The existing $25,000 homestead exemption for school district taxes would remain unchanged. (townofpalmbeach.com⁠)

For an illustration, assume a qualifying home has an assessed value of $400,000. With a $150,000 exemption, its taxable value for the affected non-school taxes would be $250,000. With a $250,000 exemption, that figure would be $150,000.

These are simplified calculations of taxable value, not estimates of a complete tax bill. Other exemptions, tax rates and charges could affect the result.

Would landlords benefit?

Yes, potentially. Although a rental property generally would not receive the expanded homestead exemption, the amendment includes a separate change for qualifying non-homestead properties.

It would lower the annual assessment-increase cap for non-school taxes from 10% to 5%. This provision can apply to rental properties, second homes and other eligible non-homestead real estate. (flchamber.com⁠)

Consider a rental with an assessed value of $300,000. If its value rose enough for the maximum annual increase to apply, the current 10% cap could allow the assessment to reach $330,000. A 5% cap would generally limit it to $315,000, assuming no event requiring a separate reassessment.

That could help an owner manage future increases. It would not automatically reduce the existing assessment or cut the tax bill in half.

The proposed limit also would not prevent reassessment following certain ownership changes or adjustments for improvements. Investors should account for those rules when evaluating a purchase. (flsenate.gov⁠)

Why a lower assessment does not guarantee a particular tax bill

Property taxes depend on both taxable value and the rates set by taxing authorities. Other assessments and charges may also appear on the bill. A percentage limit on assessment growth therefore is not the same as a percentage limit on the total bill. (townofpalmbeach.com⁠)

For budgeting, separate two questions: How would this proposal change the value being taxed, and what rates and charges would apply to that value?

That distinction matters when comparing properties. A promising exemption or assessment cap is only one part of the ownership-cost calculation.

What should buyers moving to Florida know?

The proposal treats certain new residents differently. Owners who had not maintained a permanent Florida residence by December 31, 2026 would generally start with a smaller non-school exemption, with eligibility for the expanded amount beginning in their fifth year of exemption under the provision. Administrative rules would govern how this is applied. (flsenate.gov⁠)

If you are relocating, confirm your individual eligibility with the county property appraiser before including the expanded exemption in your budget.

A property’s current tax bill also should not be treated as your guaranteed future bill. Ownership changes can trigger reassessment, and the seller’s exemptions may differ from yours. (flsenate.gov⁠)

What is the broader community impact?

The proposal reaches beyond individual tax savings. It would also change rules governing the use of county and municipal property-tax revenue.

Local governments have raised concerns that reduced collections could affect funding for services and infrastructure. Possible responses could include spending changes, adjustments to services or other legally available revenue options. Those outcomes are not predetermined. (ocfl.net⁠)

For property owners, the discussion involves both household affordability and the services supporting their communities.

How to prepare before making a real estate decision

Start with your property record and current tax bill. Check whether the property has homestead, identify its assessed value and look at the different taxes and assessments listed.

Palm Beach County’s Property Appraiser offers an Amendment 3 calculator⁠ to explore the potential homestead effect. Use it as a starting point, then confirm property-specific questions with the appraiser’s office. (pbcpao.gov⁠)

When purchasing, also include insurance, association fees, maintenance and any special assessments in your budget. My recommendation is to make decisions using costs you can verify today, then consider potential tax relief as an additional planning factor.

Whether you are buying a primary home, searching for a seasonal residence or evaluating a rental investment, I can help you compare properties and understand the ownership costs to investigate before moving forward.

How to prepare before making a real estate decision

Start with your property record and current tax bill. Check whether the property has homestead, identify its assessed value and look at the different taxes and assessments listed.

Palm Beach County’s Property Appraiser offers an Amendment 3 calculator⁠ to explore the potential homestead effect. Use it as a starting point, then confirm property-specific questions with the appraiser’s office. (pbcpao.gov⁠)

When purchasing, also include insurance, association fees, maintenance and any special assessments in your budget. My recommendation is to make decisions using costs you can verify today, then consider potential tax relief as an additional planning factor.

Whether you are buying a primary home, searching for a seasonal residence or evaluating a rental investment, I can help you compare properties and understand the ownership costs to investigate before moving forward.

Andi KaySouth Florida Realtor | Douglas EllimanServing Boca Raton, Delray Beach, Boynton Beach and surrounding communities

Information reflects the proposal as of October 5, 2026. Individual eligibility and savings vary; consult your county property appraiser or tax adviser for guidance specific to your property.