November 4, 2026 | Scott & Jan Langa, Coldwell Banker

Florida voters approved Amendment 3 on November 3, opening the door to a larger homestead exemption and potential property tax savings. For homeowners in Sarasota and Manatee counties, here's what to know as you plan ahead. Election-night results remain unofficial pending certification.

Downtown Sarasota, Florida

What changes - and when?

The amendment takes effect January 1, 2027. For eligible homestead properties, the exemption for non-school property taxes increases to:

  • 2027: Up to $150,000
  • 2028: Up to $250,000
  • 2029 onward: Adjusted for inflation

These figures represent the total exemption for non-school taxes, rather than an amount added to the existing exemption. School taxes remain subject to a separate $25,000 homestead exemption.

An exemption reduces the property value used to calculate taxes. It is not a dollar-for-dollar reduction in your tax bill.

A key detail for buyers relocating to Florida

The amendment includes an important residency distinction. People who are not Florida residents on December 31, 2026 will initially receive the existing exemption upon qualifying for homestead. The increased exemption begins in their fifth year of homestead exemption, to the extent permitted by the U.S. Constitution.

If you're planning a move to Sarasota or Manatee County, this provision deserves attention. Purchasing a property and establishing permanent residency are separate considerations; confirm your eligibility with the county property appraiser.

Does this change Save Our Homes?

The existing Save Our Homes protection continues to limit annual increases in a qualifying homestead's assessed value to 3% or inflation, whichever is lower.

The exemption and assessment cap work together: one reduces taxable value, while the other limits assessment growth.

What about second homes and investment properties?

The amendment also reduces the annual assessment-increase cap for non-homestead properties from 10% to 5% for non-school taxes. This may help owners of qualifying vacation homes and rental properties manage future assessment growth. It does not cap the total tax bill.

How much could you save?

Savings will depend on your assessed value, exemptions and local tax rates. School taxes and non-ad valorem assessments remain payable where applicable, and implementation details still require legislative action.

For buyers, a seller's current tax bill should never be your only budgeting guide. Ask for a property-specific estimate before deciding what ownership will cost.

Whether you're buying your first Florida home, relocating or exploring a second home near the beach, we can help you understand the local market and connect you with the right resources.

Scott & Jan Langa | Coldwell Banker
SRQHouseHunters.com | Contact Scott & Jan

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