Florida Amendment 3 Passed: What It Means for Miami Homeowners, Buyers and Sellers

Florida voters approved Amendment 3 on November 3, 2026, with about 62% of the vote according to unofficial results (it needed 60%). For homesteaded homes, the exemption from non-school property taxes rises to $150,000 on January 1, 2027 and to $250,000 on January 1, 2028. School taxes, your Save Our Homes cap and portability do not change, and people who become Florida residents after December 31, 2026 wait four years for the larger exemption.

What Amendment 3 changes

Amendment 3 (the Legislature's HJR 1-F, passed in June 2026) amends the Florida Constitution. Its main parts, as described by the Florida Senate and county property appraisers:

• A bigger homestead exemption for non-school taxes: up to $150,000 of assessed value starting January 1, 2027, and up to $250,000 starting January 1, 2028. After 2028 the amount is adjusted each year for inflation (CPI), starting in 2029.
• School taxes stay the same: only the first $25,000 of value remains exempt from school board taxes, as today.
• A tighter cap for non-homestead property: the yearly limit on assessed-value increases for non-homestead property drops from 10% to 5% for non-school taxes.
• Room for more relief later: the Legislature can set a uniform procedure for counties and cities to exempt more value, up to all of it, without another statewide vote.

The first bills that reflect the change are the August 2027 TRIM notice and the November 2027 tax bill.

What does NOT change

• Save Our Homes: the assessed value of a homestead can still rise only 3% a year or the CPI, whichever is lower.
• Portability: you can still carry your Save Our Homes savings to a new Florida homestead.
• Other personal exemptions: senior, widow/widower, veteran and disability exemptions stay as they are.
• Non-ad valorem charges: garbage, stormwater, special district and CDD fees on your bill are not reduced by any homestead exemption.
• The rules to qualify: you must own the home and make it your permanent residence on January 1, and file with the Miami-Dade Property Appraiser (or Broward's) by March 1.

The December 31, 2026 residency rule

This is the part that matters most to people moving to Miami. According to the Florida Senate and the property appraisers' FAQs:

• If you are a permanent Florida resident on or before December 31, 2026, you qualify for the larger amounts, including when you buy a home later and apply for homestead then.
• If you establish Florida residency on or after January 1, 2027, your non-school exemption starts at $50,000 (adjusted for CPI starting in 2028). After four years of homestead, the larger exemption applies starting January 1 of your fifth year.

The amendment applies this newcomer rule "to the extent permitted" by the U.S. Constitution, and implementing laws are still to come, so details could be refined or challenged. Residency is a question of facts, not one document. A Florida driver's license, voter registration, vehicle registration, a lease in your name and a recorded Declaration of Domicile all help show it. Only claim residency if Florida truly is your permanent home.

How much could a Miami homeowner save?

Your savings depend on your assessed value (not the market value) and on your city's non-school millage, which you can see on your TRIM notice. Here is an illustration for a homestead assessed at $400,000, assuming a non-school rate of 11 mills ($11 per $1,000) and no change in rates:

Real numbers will differ. Local governments set their millage each year, and Miami-Dade's administration estimated a loss of roughly $385 million in county revenue in the first year, so rates and budgets may change. Check our Miami-Dade property tax guide to read your bill line by line.

What it means if you are buying

1. Already living in Florida and renting? Keep proof that you were a Florida resident by December 31, 2026. When you buy, you file homestead by March 1 of the following year and should get the larger exemption.
2. Moving from another state or country? If your move is real and already underway, timing matters. Talk to a CPA or attorney about when your residency is established.
3. Budget with the right number. The assessed value resets to roughly market value on January 1 after you buy, so do not rely on the seller's tax bill. Use our mortgage calculator with an estimate based on your own exemption.
4. Buying a second home or rental? There is no homestead benefit. You only get the lower 5% cap, and the value resets at market value when you buy.

What it means if you are selling

If you are selling and buying again in Florida, you keep your status as a Florida resident, and portability still lets you move your Save Our Homes savings. File the new homestead and portability application by March 1 after you buy. It is too early to know how the amendment will affect prices, but lower taxes for many local homeowners may make moving up within Miami easier to budget. Before you list, get a free home value so you can compare what you would net against your next home's taxes.

How we can help

We help families in Miami-Dade and Broward plan a purchase or sale around the new homestead rules, from estimating your real tax bill to timing a move. Read our Florida homestead exemption guide for the filing steps, or call us at (786) 545-9222 in English or Spanish.

Frequently asked questions