·Government
Florida Amendment 3: What It Would Change for Property Taxes in Lake County
Florida voters will decide Amendment 3 in November. LCN breaks down the proposed homestead exemption changes, the lower assessment cap for non-homestead property, what the amendment does not change, and what would happen if it passes.
THE LCN BREAKDOWN
WHAT HAPPENED
Florida Amendment 3 is a statewide constitutional amendment on the Nov. 3, 2026 ballot. It would increase the homestead exemption for non-school property taxes, lower the annual assessment-growth cap on certain non-homestead property from 10% to 5%, and establish rules for how counties and municipalities may use property-tax revenue.
WHY IT MATTERS
The proposal would change the taxable value of qualifying homestead and non-homestead property for non-school levies. Because it is statewide, the changes would apply in Lake County and its municipalities if at least 60% of Florida voters approve it.
WHO IT AFFECTS
The amendment directly affects qualifying homestead property owners, owners of covered non-homestead property, counties, municipalities and special districts. Renters do not directly receive the homestead exemption, and the expanded exemption does not apply to school-district levies.
WHAT CHANGES
For qualifying Florida residents, the non-school homestead exemption would rise to $150,000 in 2027 and $250,000 in 2028, with positive-inflation adjustments beginning in 2029. The non-homestead assessment-growth cap for non-school taxes would fall from 10% to 5%.
WHAT'S NEXT
Amendment 3 goes before voters Nov. 3, 2026 and needs at least 60% statewide approval. If approved, it takes effect Jan. 1, 2027. Additional state legislation would still be required to create the uniform process for any future county or municipal increases to the exemption.
FULL LCN REPORT
WHAT HAPPENED
Florida voters will decide Amendment 3 during the Nov. 3, 2026 general election.
The statewide constitutional amendment is titled “Increased Homestead Exemption; Lower Cap on Increases in Non-Homestead Property Assessments.” It was placed on the ballot by the Florida Legislature.
Amendment 3 would change three major parts of Florida property-tax policy:
• It would increase the homestead exemption that applies to non-school property taxes.
• It would reduce the annual assessment-growth cap on certain non-homestead property from 10% to 5% for non-school taxes.
• It would place constitutional limits on how counties and municipalities may use property-tax revenue.
The amendment would require approval from at least 60% of voters statewide. If approved, it would take effect Jan. 1, 2027.
WHY IT MATTERS
Property taxes are based in part on a property’s assessed value, applicable exemptions and the millage rates imposed by taxing authorities.
Amendment 3 would change the amount of assessed value that can be exempt from non-school property taxes for qualifying homesteads. It would also change how quickly the assessed value of certain non-homestead property can increase for non-school tax purposes.
Because these changes would apply statewide, they would also apply in Lake County and its municipalities.
The amendment does not set a single property-tax bill for any homeowner or business. The actual effect on an individual property would depend on factors including assessed value, homestead status, applicable taxing authorities and local millage rates.
WHO IT AFFECTS
Florida residents with a homestead exemption
People who maintained permanent residence in Florida as of Dec. 31, 2026, and have or later establish a homestead would be eligible for a larger exemption from non-school property taxes.
The exemption would be up to $150,000 of assessed value beginning Jan. 1, 2027, and up to $250,000 beginning Jan. 1, 2028. Beginning in 2029, the $250,000 amount would be adjusted annually for positive inflation.
People who become Florida residents after Dec. 31, 2026
People who establish permanent Florida residency on or after Jan. 1, 2027, would not immediately receive the same larger exemption available to people who were permanent Florida residents by the end of 2026.
Under the legislative summary, those residents would receive an exemption of up to $50,000 from non-school property taxes beginning in 2027, adjusted for positive inflation beginning in 2028. Beginning with the fifth year of the exemption, they could become eligible for the larger exemption available to earlier Florida residents, subject to constitutional requirements.
Beginning in 2030, a county or municipality could shorten that five-year period by a two-thirds vote if it determines the change is warranted for a critical local need under procedures established by state law.
Owners of non-homestead property
The amendment would lower the annual assessment-growth cap for non-homestead, non-agricultural property from 10% to 5% for non-school tax purposes.
This category can include rental property, second homes and commercial property that does not receive a homestead exemption.
Renters
Renters do not directly receive a homestead exemption because the exemption applies to qualifying property owners. Rental property may, however, fall under the non-homestead assessment cap depending on the property.
Counties, municipalities and special districts
Local taxing authorities would calculate non-school taxable value under the new exemption and assessment rules if the amendment passes.
The amendment also requires the Legislature to create a uniform process allowing counties and municipalities, for their respective levies, to increase the homestead exemption further, up to the full assessed value of a homestead.
Special districts could increase the exemption for their own levies only with voter approval through a referendum.
WHAT CHANGES
For established Florida residents with homestead property
2027: Up to $150,000 of assessed value would be exempt from non-school property taxes.
2028: The exemption would increase to up to $250,000.
2029 and after: The $250,000 amount would receive annual adjustments for positive inflation.
For certain non-homestead property
The maximum annual increase in assessed value for non-school tax purposes would fall from 10% to 5%.
For county and municipal property-tax revenue
The amendment would specify categories for which counties and municipalities may use ad valorem property-tax revenue. Those categories include public safety; education and schools; infrastructure; natural-resource projects; bond debt service; employee retirement obligations; and government operations and administration.
Other expenditures could be approved by county officers or county or municipal governing bodies unless prohibited by general law.
WHAT AMENDMENT 3 DOES NOT DO
It does not apply the larger exemption to school-district property taxes.
The expanded $150,000 and $250,000 homestead exemptions apply to non-school property-tax levies. Amendment 3 does not eliminate school-district property taxes.
It does not automatically eliminate all non-school property taxes on homesteads.
The amendment requires the Legislature to create a uniform process through which counties and municipalities could increase the exemption further. That future process is separate from the automatic $150,000 and $250,000 exemption amounts contained in the amendment.
It does not automatically change local millage rates.
The amendment changes exemptions, assessment limits and rules governing property-tax revenue. It does not itself set the millage rate adopted by Lake County, a city or another taxing authority.
It does not mean a non-homestead owner’s tax bill can rise by no more than 5%.
The 5% limit applies to annual growth in assessed value for covered non-homestead property for non-school tax purposes. A final tax bill can also be affected by millage rates, exemptions, changes in ownership, improvements and other factors.
It does not apply to every charge that can appear on a property-tax bill.
Amendment 3 concerns ad valorem property taxation. It does not eliminate separate non-ad valorem assessments, user fees or other charges that may be collected for specific services.
It does not itself guarantee a specific dollar amount of savings for every property owner.
The dollar effect would vary by property and taxing jurisdiction.
WHAT HAPPENS IF VOTERS APPROVE IT?
If at least 60% of voters statewide vote yes, the constitutional changes would take effect Jan. 1, 2027.
The higher homestead exemption and lower non-homestead assessment cap are designed to begin with the 2027 property-tax roll.
The Legislature would also need to enact general law establishing the uniform procedure required by the amendment for any future county or municipal increases to the homestead exemption.
WHAT HAPPENS IF VOTERS REJECT IT?
If Amendment 3 receives less than 60% approval statewide, the proposed constitutional changes would not take effect.
The existing constitutional property-tax rules would remain in place unless changed through some separate future action.
WHAT'S NEXT
Amendment 3 will appear on Florida’s Nov. 3, 2026 general-election ballot.
Because it is a proposed constitutional amendment, it needs at least 60% statewide approval to pass.
Between now and Election Day, voters can review the official ballot summary and full proposed constitutional language through the Florida Department of State.
LCN BOTTOM LINE
Amendment 3 would make several property-tax changes at the same time.
For qualifying Florida homestead owners, it would increase the exemption from non-school property taxes to $150,000 in 2027 and $250,000 in 2028, with inflation adjustments after that.
For covered non-homestead property, it would lower the annual non-school assessment-growth cap from 10% to 5%.
It would also establish constitutional rules for the use of county and municipal property-tax revenue and require additional state legislation for a process that could allow larger local homestead exemptions in the future.
The expanded exemption would not apply to school-district levies, and the amendment would not automatically eliminate every non-school property tax or set local millage rates.
Florida voters make the decision Nov. 3.
OFFICIAL SOURCES
Florida Department of State, Division of Elections — Amendment 3 ballot record
Florida Senate — 2026 Special Session bill summary for CS/HJR 1-F
Florida Legislature Office of Economic and Demographic Research — Revenue Estimating Conference analysis
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