Everything the Florida homestead does for you, how Save Our Homes and portability protect your savings, and what the Amendment 3 proposal on the November 3, 2026 ballot would change.
Maximum 2026 homestead exemption: $25,000 off all taxes plus $26,411 off non-school taxes.
2026 Save Our Homes cap: the most a homestead's assessed value can rise this year.
Maximum Save Our Homes benefit you can carry to a new Florida homestead.
Non-school exemption by 2028 if Amendment 3 wins at least 60% of the vote.
Exemptions reduce taxable value. They are not cash payments or tax credits.
Homestead is more than a tax break. Once your Florida home is your permanent residence, it unlocks a set of protections most states don't offer.
Up to $51,411 off your home's assessed value in 2026, adjusted for inflation each year.
Assessed value rises no more than 3% or CPI a year, even when the market jumps 10%.
Move within Florida and carry up to $500,000 of accumulated tax savings with you.
Only homesteads can add senior, widow/widower, disability and veteran exemptions.
The Florida Constitution shields a homestead from forced sale by most creditors, with no dollar cap (size limits apply).
Special rules protect a surviving spouse and minor children when the owner passes away.
A capped assessment makes long-term carrying costs easier to plan in a rising market.
Only homesteads could receive the proposed $150,000 (2027) and $250,000 (2028) exemptions.
It has two parts. School taxes, often the largest single line on a Miami-Dade bill, only receive the first $25,000.
| $1M homestead | Calculation | Annual tax |
|---|---|---|
| Non-school | ($1,000,000 − $51,411) × 12 mills | $11,383 |
| School | ($1,000,000 − $25,000) × 7 mills | $6,825 |
| Total | vs. $19,000 with no homestead | $18,208 |
1 mill = $1 of tax per $1,000 of taxable value. Examples use an assumed 12 non-school + 7 school mills (19 mills ≈ 1.9%).
Starting the year after you receive homestead, your assessed value can rise only 3% or the change in CPI, whichever is lower. The 2026 cap is 2.7%. The gap between market and assessed value is your Save Our Homes benefit.
Illustration, not a forecast. The cap limits assessed value, not your bill: millage changes and new charges can still raise it. A falling market does not always lower the assessment ("recapture").
| Example: $2M home to $2M home | Value |
|---|---|
| Old home market value | $2,000,000 |
| Old home assessed value | $1,000,000 |
| Save Our Homes difference | $1,000,000 |
| Maximum you can port | $500,000 |
| New home assessed value | $1,500,000 |
Buying equal or higher value: port the full difference, up to $500,000. Old $1M home assessed at $700K → $300K ported → new $2M home assessed at $1.7M.
Buying lower value: a proportional share ports. Old $1M home assessed at $700K, new $600K home → $180K ported → new assessment $420K.
Establish the new homestead within three years after January 1 of the year you left the old one, and file by March 1. Florida-to-Florida only.
| Exemption | Who qualifies | Benefit |
|---|---|---|
| Senior (65+) | Age 65 by January 1, household income under the annual limit ($38,686 for 2026); adopted locally | Up to $50,000 more (local levies) |
| Long-term senior | 65+, income-qualified, 25+ years in the home, just value under $250,000 | Full exemption from adopting levies |
| Widow / widower | Florida resident whose spouse has died (not divorced) | $5,000 |
| Blind or disabled | Legally blind or totally and permanently disabled residents | $5,000 (full for qualifying cases) |
| Disabled veterans | 10%+ service-connected disability; 100% total and permanent disability | $5,000 to full exemption |
| Deployed military | Service members deployed outside the U.S. during the prior year | Based on days deployed |
| First responders | Totally and permanently disabled in the line of duty | Full exemption |
Eligibility, income limits and documentation vary by county and year. Confirm with your county property appraiser before filing.
Renting all or substantially all of your homestead counts as abandonment. You keep it for the year only if it isn't rented more than 30 days per calendar year for two consecutive years.
You and your spouse can hold only one homestead, in Florida or anywhere else. A residency-based exemption in another state disqualifies you.
An improper homestead can bring back taxes plus a 50% penalty and 15% interest a year, looking back up to ten years (F.S. 196.161).
"Increased Homestead Exemption; Lower Cap on Increases in Non-Homestead Property Assessments." On the ballot November 3, 2026. It needs at least 60% of the vote to pass.
Voters decide. Approval requires at least 60%.
Permanent Florida residents by this date qualify for the larger exemption, even if they buy later.
Takes effect. First seen on August 2027 TRIM notices and November 2027 bills.
The non-school exemption rises to its second step.
Adjusts annually for inflation. Details depend on implementing laws.
If it fails, current law stays: the $25,000 + CPI-indexed exemption, the 3%/CPI homestead cap and the 10% non-homestead cap.
| Provision | Current law | If it passes |
|---|---|---|
| Non-school homestead exemption | Up to $51,411 (2026) | $150,000 in 2027, $250,000 in 2028, CPI-adjusted from 2029 |
| School homestead exemption | $25,000 | Unchanged |
| Save Our Homes cap | 3% or CPI | Unchanged |
| Portability & other exemptions | As today | Unchanged |
| Non-homestead cap (non-school) | 10% a year | 5% a year |
| Further local increases | Not provided | Legislature sets a process for cities and counties to go further, up to full value; special districts by referendum |
| Local spending | Local discretion | Property taxes limited to listed core purposes (public safety, schools, infrastructure and others) |
Non-school homestead exemption by year. Gray: current law. Blue: proposed.
Receive $150K (2027) and $250K (2028), including if they buy a home later.
Start with a $50,000 non-school exemption; the larger one begins January 1 of the fifth year.
Assessed close to market value, so most likely to use the full exemption.
No homestead exemption, but non-school assessments could rise only 5% a year.
Enter your assessed value (from your TRIM notice or the property appraiser's site) and your millage rates. The estimate holds rates flat, so treat it as an illustration.
Miami-Dade school levy 2025: 6.633 mills. New residents after 2026 would start with a $50,000 non-school exemption (the CPI adjustment from 2028 is not modeled).
| Assessed value | 2026 | 2027 | 2028 |
|---|---|---|---|
| $500K | $8,708 | $7,525 | $6,325 |
| $1M | $18,208 | $17,025 | $15,825 |
| $2M | $37,208 | $36,025 | $34,825 |
| $10M | $189,208 | $188,025 | $186,825 |
| Year 10 | Homestead | Investment |
|---|---|---|
| Non-school taxable | $1,093,916 | $1,628,895 |
| School taxable | $1,318,916 | $1,790,848 |
| Non-school tax | $13,127 | $19,547 |
| School tax | $9,232 | $12,536 |
| Total | $22,359 | $32,083 |
6% market growth, 3% CPI, no sale or improvements, 19 assumed mills, $250K exemption held flat. School taxes stay uncapped at market value for non-homestead property.
School taxes continue on value above $25,000, and non-school taxes on value above the exemption.
It lowers taxable value, not tax rates. Local governments could raise millage or fees to replace revenue.
Non-ad valorem charges such as solid waste, stormwater or special districts are not reduced.
Counties and cities would have to use property taxes for listed core purposes.
The Legislature must pass implementing laws; some details can't be known until then.
Supporters include Florida Realtors; many cities, counties and public-safety groups oppose it over service cuts.
No. School taxes remain, non-school taxes remain on value above the exemption, and non-ad valorem fees still apply.
No. Homestead is only for your permanent residence. The proposed 5% cap is the separate benefit for non-homestead owners.
No. The cap limits assessed value. Millage changes, improvements and new charges can raise the bill further.
No. A sale resets the assessment to market value the next January 1. Your own portability can reduce it.
No. Portability only moves a Save Our Homes benefit from one Florida homestead to another.
If Amendment 3 passes, permanent residency by December 31, 2026 means you avoid the five-year wait for the larger exemption. Speak with a tax professional about your situation.
Contact the property appraiser promptly. Late applications may be accepted with extenuating circumstances, up to the Value Adjustment Board petition deadline after TRIM notices are mailed.
Taxes change the math on every purchase. I'll pull the folio, the current assessment and exemptions for any property you're considering, so you see the real carrying cost before you commit.
Amendment 3 FAQ, Pinellas County Property Appraiser
pcpao.gov/amendment3
CS/HJR 1-F full text, Florida House
flhouse.gov
Bill analysis, Florida Senate
flsenate.gov
Revised ballot language, Florida Phoenix
floridaphoenix.com voter guide
Save Our Homes cap table (rev. Jan 2026), Florida DOR
floridarevenue.com
Save Our Homes & portability guide (PT-112), Florida DOR
floridarevenue.com
Homestead rental rule, F.S. 196.061
flsenate.gov
Homestead exemption, Miami-Dade Property Appraiser
miamidadepa.gov
Portability, Miami-Dade Property Appraiser
miamidadepa.gov
2025 adopted millage chart, Miami-Dade Property Appraiser
miamidadepa.gov
Forms DR-501 & DR-501T, Florida DOR
floridarevenue.com
This page is for general education and is not tax, legal, accounting or investment advice. It does not guarantee eligibility, savings, assessments or tax bills. Amendment 3 is a proposal on the November 3, 2026 ballot and is not law as of September 30, 2026; ballot status, implementation, laws, exemptions and local tax rates may change. Examples use stated assumptions and exclude other exemptions, special assessments and payment discounts. Verify with your county property appraiser, tax collector and Florida state agencies, and consult a qualified tax professional or attorney.