Florida Amendment 3 is on the November 3, 2026 ballot. Here's a neutral summary of what it would change, based on the official ballot summary. If you own a rental (non-homestead) property in Florida, one part of it applies directly to you.
Prefer to read? The key points are below.
Official ballot title: "Increased Homestead Exemption; Lower Cap on Increases in Non-Homestead Property Assessments."
What Amendment 3 would change
Per the official ballot summary:
- Bigger homestead exemption. It would raise the homestead exemption for all non-school property taxes to $150,000 in 2027 and $250,000 in 2028, adjusted for inflation after that.
- Local option to go further. The Legislature would set a uniform procedure letting counties and municipalities raise the exemption up to full assessed value. Special districts could do the same with referendum approval.
- New Florida residents. People who are not Florida residents on December 31, 2026 would receive the existing exemption when they qualify, with the increased exemption beginning in their fifth year of exemption (to the extent permitted by the U.S. Constitution).
- Lower cap for non-homestead property. The annual cap on assessment increases for non-homestead property (which includes most rental properties) would drop from 10% to 5%.
- Limits on local property-tax use. Counties and municipalities would have to use property taxes solely for public safety, education and schools, infrastructure, natural resources, bond debt service, employee retirement benefits, and operations and administration (other expenditures may be approved as described in the summary).
- Effective date: January 1, 2027, if approved.
How it got on the ballot
The Florida Legislature placed it on the ballot (HJR 1F). Florida constitutional amendments need at least 60% approval to pass.
Why rental owners are paying attention
Item 4, the non-homestead assessment cap, applies to rental and investment property. If you're deciding whether to rent out a former primary residence, remember that renting out your homestead can affect your homestead exemption. Check with your county property appraiser. Our free guide, How to Rent Out Your House in Florida, covers the Florida tax basics.
Official sources
- Florida Division of Elections, Constitutional Amendments
- Official Amendment 3 ballot title, summary & text (PDF)
- 2026 Proposed Constitutional Amendments booklet (PDF)
Key takeaways
- On the Nov. 3, 2026 ballot; needs 60% to pass; would take effect Jan. 1, 2027.
- Homestead exemption for non-school taxes: $150,000 (2027), $250,000 (2028), then inflation-adjusted.
- Non-homestead (including most rental) assessment cap would drop from 10% to 5%.
- Neutral summary. Read the official sources before you vote.
What could your home rent for?
Get a free rental price analysis from Belmont Management Group. Enter your property address at belmontmanagementgroup.com or call (407) 745-0696. Free, no obligation.
Get my free rental analysis →FAQ
When is the election?
Tuesday, November 3, 2026.Who put Amendment 3 on the ballot?
The Florida Legislature (HJR 1F).What does it need to pass?
At least 60% approval.
This is a neutral summary of the official ballot summary for educational purposes. Belmont Management Group does not support or oppose any ballot measure. This is not legal or tax advice. See the official sources above and consult a tax professional about your situation.
Belmont Management Group · 1133 Louisiana Avenue, Suite 101, Winter Park, FL 32789 · (407) 745-0696 · Central Florida property management since 2009.
