Insights

Florida’s Amendment 3: What Property Owners Need to Know About the New Tax Changes

by Sequoia Financial Group

November 6, 2026

Florida voters have approved a significant change to the state’s property tax system. Here’s what homeowners, prospective buyers, and real estate investors may need to understand, and how these changes may affect their broader financial plans.

On November 3, 2026, Florida voters approved Amendment 3 with approximately 62% of the vote, exceeding the 60% threshold required for a constitutional amendment. The measure expands property tax exemptions for qualifying homeowners and changes how certain other properties are assessed. ¹

While the amendment could provide meaningful tax savings, its impact will depend on property ownership, residency status, and individual circumstances.

What Is Florida’s Amendment 3?

Amendment 3 is a constitutional amendment designed to reduce property taxes for qualifying Florida homeowners by increasing the homestead exemption: the portion of a primary residence’s assessed value excluded from property taxation.

The amendment takes effect January 1, 2027, with additional changes scheduled for 2028 and beyond. ²

What Does Amendment 3 Change for Florida Property Owners?

The amendment introduces several important changes:

Expanded homestead exemption: For qualifying primary residences, the exemption for non-school property taxes increases to $150,000 in 2027 and $250,000 in 2028, with inflation adjustments beginning in 2029.
School taxes remain separate: The expanded exemption does not apply to school-district property taxes, meaning homeowners would continue paying those taxes under existing rules.
New residency requirements: Individuals who are not Florida residents by December 31, 2026, generally must wait until their fifth year of qualifying for a homestead exemption to receive the expanded exemption.
Changes for investment properties: The annual cap on assessment increases for non-homestead properties, including rental and commercial real estate, decreases from 10% to 5%.
Local government considerations: The amendment also changes how counties and municipalities may use property tax revenue, potentially affecting local budgets and services. ² ³

What Should Homeowners Consider?

Although Amendment 3 may lower property taxes, the financial implications extend beyond an individual tax bill.

Review your property tax obligations. Homeowners may want to evaluate their eligibility for the expanded exemption and consider how potential savings could affect household cash flow and long-term financial planning.
Evaluate residency decisions. Individuals considering relocating to Florida should understand how the new residency requirements may influence their eligibility and the timing of potential tax benefits.
Revisit real estate strategies. Owners of second homes, rental properties, or commercial real estate should consider how the lower assessment-growth cap could affect future carrying costs and investment decisions.
Maintain a broader perspective. Property tax savings are only one component of homeownership costs. Insurance, maintenance, potential changes in local taxes, and other expenses remain important considerations.

Planning With Sequoia Financial Group

Amendment 3 may create opportunities for Florida property owners to reassess their financial plans, particularly those contemplating relocation, retirement, real estate purchases, or changes to their investment portfolios.

Your Sequoia Financial Group team can help evaluate how these changes fit within your broader financial picture, coordinating with your tax and legal professionals when appropriate.

Because meaningful financial planning isn’t built around a single tax change. It’s BUILT FOR YOU.

Sources

The views expressed represent the opinion of Sequoia Financial Group. The views are subject to change and are not intended as a forecast or guarantee of future results. This material is for informational purposes only. It does not constitute investment advice and is not intended as an endorsement of any specific investment. Stated information is derived from proprietary and nonproprietary sources that have not been independently verified for accuracy or completeness. While Sequoia believes the information to be accurate and reliable, we do not claim or have responsibility for its completeness, accuracy, or reliability. Statements of future expectations, estimates, projections, and other forward-looking statements are based on available information and Sequoia’s view as of the time of these statements. Accordingly, such statements are inherently speculative as they are based on assumptions that may involve known and unknown risks and uncertainties. Actual results, performance or events may differ materially from those expressed or implied in such statements. Investing in equity securities involves risks, including the potential loss of principal. While equities may offer the potential for greater long-term growth than most debt securities, they generally have higher volatility. Past performance is not an indication of future results. Investment advisory services offered through Sequoia Financial Advisors, LLC, an SEC Registered Investment Advisor. Registration as an investment advisor does not imply a certain level of skill or training.

This material is provided for informational purposes only and does not constitute personalized investment advice, an offer, or a solicitation to buy or sell any security or service. The views expressed are those of Sequoia Financial Group as of the date of publication, are subject to change without notice, and are not a forecast or guarantee of future results. Forward-looking statements are speculative in nature, and actual results may differ materially.

Information contained herein has been obtained from third-party sources believed to be reliable, but Sequoia has not independently verified it and makes no warranty as to its accuracy or completeness.

This content is general in nature and is not intended to provide legal or tax advice. Please consult your attorney or tax professional regarding your specific situation. Tax preparation services are referred to Sequoia Tax Services or a third party and are not provided by Sequoia Financial Group.

Investment advisory services offered by Sequoia Financial Advisors, LLC, an SEC Registered Investment Advisor. Registration as an investment advisor does not imply a certain level of skill or training.