What is Florida's Save Our Homes From Excessive Property Taxes Amendment? (2026 Guide)

Key Takeaways

• The Save Our Homes From Excessive Property Taxes amendment is Florida's 2026 ballot measure (Amendment 3); it needs 60% voter approval on Nov. 3, 2026, and would take effect Jan. 1, 2027.

• It would raise the non-school homestead exemption to $150,000 in 2027 and $250,000 in 2028, indexed to inflation afterward.

• It cuts only non-school (county, city, special-district) taxes; the $25,000 school exemption and your school taxes are unchanged.

• It is not the same as the 1995 Save Our Homes 3% assessment cap or 2024's Amendment 5; those protections stay in place.

• Regardless of the vote, you can lower your bill now by claiming your homestead exemption and appealing an over-assessment with your county's Value Adjustment Board (VAB).

Introduction

74% of U.S. homeowners have never appealed their property tax bill, according to our 2026 National Homeowner Survey. In a state with no income tax, where your annual tax burden can climb thousands of dollars in a single year, that's money left on the table.

Now Florida voters face a confusingly named ballot measure, the "Save Our Homes From Excessive Property Taxes" amendment. It shares a name with the well-known 1995 Save Our Homes assessment cap, but it's an entirely different proposal.

This guide explains what the amendment does, how it differs from the existing rules, and the steps you can take today to reduce what you owe the county, whether or not it passes. At Ownwell, we file Florida homestead exemptions and Value Adjustment Board appeals daily, so we'll walk you through the dollar impact in plain English.

What Is the Save Our Homes From Excessive Property Taxes Amendment?

The Save Our Homes From Excessive Property Taxes amendment is a proposed change to the Florida Constitution. It appears as Amendment 3 on the November 3, 2026 ballot, enacted via CS/HJR 1-F after Governor DeSantis called a special session on property tax relief.

The measure requires 60% voter approval. If passed, it takes effect January 1, 2027. The legislature passed the bill 75-26 in the House and 30-9 in the Senate in June 2026.

Understanding what's on the ballot matters because this isn't a minor tweak. It's one of the most significant proposed changes to Florida's property tax structure in decades.

The amendment would do four things:

1. Expand the non-school homestead exemption: The exemption rises from $25,000 to $150,000 in 2027 and $250,000 in 2028, then adjusts for inflation starting in 2029.

2. Restrict how local governments spend property tax revenue: Counties and municipalities could only spend property tax dollars on enumerated core services like public safety, infrastructure, and debt service.

3. Lower the non-homestead assessment cap: The annual cap on assessment increases for rentals, second homes, and commercial property drops from 10% to 5%, starting in 2027.

4. Phase in the benefit for new residents: Anyone establishing Florida residency after December 31, 2026 starts with a $50,000 non-school exemption and must wait five years to receive the full amount.

These changes apply to non-school levies only. The existing $25,000 school exemption and your school district taxes remain unchanged.

Why the distinction? Florida funds public schools partly through property taxes levied by school districts. The amendment's sponsors chose to protect school funding while cutting county, municipal, and special-district levies. That means your school taxes stay the same even if the amendment passes.

How the Expanded Homestead Exemption Would Work

Understanding the current exemption structure helps you see exactly what changes.

Under current Florida law, the standard homestead exemption reduces your taxable value by up to $50,000. The first $25,000 applies to all taxes, including school levies. The second $25,000 applies only to non-school taxes (county, city, and special district) on assessed value between $50,000 and $75,000. You claim it by filing Form DR-501 with your county Property Appraiser by March 1.

If Amendment 3 passes, the non-school exemption would jump significantly:

• 2027: Non-school exemption rises to $150,000

• 2028: Non-school exemption rises to $250,000

• 2029 and beyond: Exemption adjusts annually for inflation

The ballot language also calls for a schedule toward "full elimination" of non-school homestead property taxes, though that timeline remains undefined. No specific legislation has been introduced to set the elimination schedule, so treat "full elimination" as a long-term goal rather than an imminent change.

What This Means in Dollars

Let's walk through a worked example using a Florida home with an assessed value of $400,000 and a combined non-school millage rate of 15 mills (1.5%). Homeowners without a mortgage or escrow account pay their tax bill directly to the county on the due date; those with escrow see changes reflected in their monthly payment.

Current Law (2026):

After Amendment 3 (2028, $250,000 exemption):

In this scenario, you would save $3,375 per year on non-school taxes alone. Your school taxes remain unchanged because the school exemption stays at $25,000.

That's a meaningful reduction, roughly $280 per month if you pay through escrow. If you pay directly to the county, you'd see the full savings reflected on your November due date.

For higher-value homes, the savings scale proportionally. A $600,000 home with the same millage rate would see non-school taxable value drop from $575,000 to $350,000, saving $3,375 annually. A $300,000 home would see taxable value drop from $275,000 to $50,000, saving $3,375 as well, since the $250,000 exemption covers more of the total value.

The key takeaway: the closer your assessed value is to $250,000, the greater the percentage reduction in your non-school bill.

Save Our Homes From Excessive Property Taxes vs. the Original Save Our Homes Cap and Amendment 5

The name "Save Our Homes" has appeared on three distinct Florida measures. Here's how they differ:

The new amendment adds to the protections you already have. It does not replace the 3% assessment cap or 2024's inflation adjustment.

Here's why this matters: if you've owned your Florida home for years, the 3% cap has likely kept your assessed value well below market value. That "portability" benefit transfers when you move within Florida. The new amendment wouldn't touch that protection; it simply exempts more of your taxable value from non-school levies.

For a deeper look at how the original Save Our Homes cap interacts with your annual valuation, see our Florida property tax guide.

What the Amendment Means for Renters, Businesses, and New Residents

The ballot measure affects more than primary-residence homeowners.

Non-Homestead Properties

The current 10% annual cap on assessment increases for non-homestead properties, including rentals, second homes, and commercial buildings, would drop to 5% starting January 1, 2027. This applies to non-school levies only.

What does a 5% cap mean in practice? If your rental property's market value jumps 15% in a single year, the county can only increase your assessed value by 5% annually for non-school taxes. Over time, this creates a gap between market value and assessed value, lowering your tax bill.

Investors and business owners would see slower assessment growth, though critics argue landlords may not pass the savings on to renters. The Florida Policy Institute notes that renters, who don't benefit from homestead exemptions, could face indirect costs if local governments raise other fees to offset revenue losses.

We handle commercial and investment-property appeals through the same VAB process. If you manage a portfolio, we can file across multiple properties under a single account.

New Florida Residents

If you establish Florida residency after December 31, 2026, you start with a smaller non-school exemption of $50,000 and must maintain residency for five years before qualifying for the full $250,000. This creates a two-tier system that benefits current residents over newcomers.

For those moving to Florida in 2027 or later, the immediate tax benefit is smaller, but the 3% Save Our Homes assessment cap still applies once you claim your homestead exemption. That cap alone can save thousands over time as your assessed value lags behind market appreciation.

Local Government Spending

The amendment restricts how counties and cities can spend property tax revenue, limiting it to public safety, education, infrastructure, natural resources, flood control, bonds and debt, employee retirement, and government operations.

Fiscal Impact

Legislative staff estimates the amendment would reduce local government revenue by approximately $4.6 billion in fiscal year 2027-28 and $8.4 billion in fiscal year 2028-29, according to Ballotpedia. The Florida Revenue Estimating Conference estimates roughly $12 billion in recurring annual losses.

Opponents note these cuts could shift costs to sales taxes or other fees, potentially affecting renters and lower-income residents who don't benefit from the homestead exemption. Supporters counter that Florida's local property tax revenue nearly doubled over seven years, from $32 billion to $60 billion, and is projected to reach $83 billion by 2032, justifying relief for homeowners.

The fiscal debate will likely intensify as the November vote approaches. What's clear is that local services depend on property tax revenue, and any significant reduction will require adjustments somewhere.

What Florida Homeowners Should Do Now (Regardless of the Vote)

The vote is months away, and any changes wouldn't take effect until 2027 at the earliest. But you can lower your 2026 bill today.

Our 2026 National Homeowner Survey found that 57% of homeowners who never appealed didn't know they had the right to. Meanwhile, 9 in 10 homeowners are concerned about the long-term impact of rising property taxes.

The good news: Florida offers clear paths to savings, and neither involves waiting for a ballot measure.

Here are three steps to take now:

1. Claim or verify your homestead exemption: File your homestead exemption with your county Property Appraiser by March 1. This unlocks the current $50,000 exemption and the Save Our Homes 3% assessment cap. If you already have it, confirm it's correctly applied on your TRIM notice.

2. Appeal an over-assessment: File a petition with your county Value Adjustment Board (VAB) within 25 days of your TRIM notice, which is mailed mid-to-late August. Our guide on how to lower your property tax assessment walks through the evidence that wins. Florida homeowners cannot have their assessed value raised for filing an appeal, so the process is low-risk.

3. Check for additional exemptions you may be missing: Florida offers exemptions for seniors, veterans, surviving spouses, and homeowners with disabilities. Each can reduce your taxable value further. Many homeowners don't realize they qualify until someone reviews their property record.

Why Acting Now Matters

Even if the amendment passes and your non-school exemption grows to $250,000, an over-assessment still inflates your school taxes and any remaining non-school liability. Your school district still taxes your assessed value above the $25,000 school exemption, so every dollar of over-assessment costs you real money.

Claiming every eligible exemption and appealing an unfair valuation compounds your savings year after year. The Save Our Homes 3% cap works best when your starting assessed value is accurate. If you're over-assessed today, that inflated baseline follows you, and you pay more than necessary every year until you correct it.

The VAB appeal process is straightforward, and Florida law protects homeowners from retaliation. Your assessed value cannot be raised simply because you filed an appeal. The worst outcome is that your current value stays the same.

How Ownwell Can Help

We manage the end-to-end Florida property tax appeal and exemption process. That means handling the paperwork, building evidence with local market data, and representing you at VAB hearings, so you don't spend hours navigating county offices or preparing your own case.

After analyzing your property, we compare it to recent sales and current listings to determine if you're over-assessed. If an appeal makes sense, we file the petition, compile the evidence, and handle the hearing. You get updates along the way and a clear accounting of your savings at the end.

Our pricing is straightforward: 35% of your savings, with no upfront cost. You pay only if you save. Ownwell customers save an average of $774 per year, and we maintain an 88% success rate across the appeals we file.

We also handle exemption applications. If you're not sure whether you've claimed everything you're entitled to, we can review your property record and file on your behalf.

If you're unsure whether your home is over-assessed or which exemptions you qualify for, start with a free savings estimate. It takes about 15 seconds, and there's no obligation.