Florida homeowners have questions about what Amendment 3 could mean for their property tax bills, including whether the proposal would change the way their homes are assessed.
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The proposed constitutional amendment would increase the homestead exemption for non-school property taxes to $150,000 in 2027 and $250,000 in 2028, if approved by voters.
But what happens to your home’s assessed value?
A viewer from Coral Springs asked NBC6 whether current assessment values would be used if Amendment 3 passes.
Broward County Property Appraiser Marty Kiar said the proposal would increase the homestead exemption, but it would not change how property assessments are calculated.
If the amendment takes effect in 2027, the 2027 assessed value would be used, and the increased homestead exemption would then be applied to that value.
Kiar said other existing exemptions and benefits would remain in place, including homestead, senior and veterans’ exemptions, as well as portability.
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The assessed value of a homesteaded property is used to determine its taxable value after applicable exemptions are deducted.
Florida’s Save Our Homes law generally limits annual increases in the assessed value of a homesteaded property to 3% or the change in the Consumer Price Index, whichever is lower.
The proposed amendment would not change that assessment calculation. Instead, it would increase the amount of the homestead exemption that can be deducted from the assessed value for applicable property taxes.
That means the potential tax savings would come from a lower taxable value — not from changing the property’s assessed value.
Amendment 3 would need at least 60% voter approval to pass.
Homeowners who want to know how the proposal could affect their specific tax bill should check with their county property appraiser or local government. Some cities and counties have published estimates of the potential financial impact.
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