Florida homeowners have an important change coming to their property tax bills.

On November 3, 2026, Florida voters approved Amendment 3, a constitutional amendment designed to reduce property taxes on qualifying primary residences while making additional changes to property assessments.

For homeowners throughout Broward County — including Fort Lauderdale, Weston, Parkland, Davie, Plantation, Coral Springs, Hollywood, and Pembroke Pines — the new law could mean substantial savings beginning in 2027.

But there's an important distinction: Not every homeowner or homebuyer will receive the same benefit, and some new Florida residents may have to wait several years to qualify for the larger exemption.

Let's break down what changed, when the changes take effect, and what homeowners, sellers, and prospective buyers should understand before making their next real estate decision.

Florida Amendment 3 changes the state's property tax system by increasing the homestead exemption on qualifying primary residences.

The homestead exemption reduces the assessed value of a property that is subject to taxation. In other words, a homeowner is taxed on a smaller portion of the home's assessed value.

Before Amendment 3, eligible Florida homeowners generally received an exemption of approximately $50,000 from most non-school property taxes.

Under the newly approved amendment, that exemption increases significantly.

The existing $25,000 homestead exemption for school property taxes remains unchanged.

This means the increased exemption applies to non-school property taxes, not the entire property tax bill.

The amendment takes effect January 1, 2027, with the first changes expected to appear on property tax bills issued in November 2027.

This is probably the biggest question homeowners are asking.

The answer depends on several factors, including the property's assessed value, existing exemptions, local millage rates, and eligibility for the new benefits.

Consider a simplified example.

Assume you own a primary residence in Broward County with an assessed value of $400,000 and qualify for the expanded exemption.

Under the previous system, approximately $50,000 of assessed value was exempt from non-school property taxes.

In 2027, the new $150,000 exemption would reduce the taxable assessed value for non-school taxes to $250,000.

In 2028, the $250,000 exemption would reduce that taxable value to just $150,000.

To understand the potential savings, assume a hypothetical combined non-school tax rate of 10 mills, equivalent to $10 for every $1,000 of taxable value.

Under that assumption:

• The 2027 exemption could reduce non-school taxes by approximately $986 compared with the 2026 exemption structure.
• The 2028 exemption could reduce non-school taxes by approximately $1,986 compared with that same baseline.

These are illustrative calculations, not guaranteed savings. They assume the same assessed value and tax rate for comparison and do not account for future changes in millage rates or other charges.

Important: A home's market value and assessed value are not necessarily the same. Longtime homeowners may have substantially lower assessed values because of Florida's Save Our Homes protection.

Some homeowners with assessed values below the new exemption thresholds could eventually have no taxable value remaining for non-school property taxes.

However, school property taxes and non-ad valorem assessments may still apply.

For many homeowners who already have a homestead exemption, Amendment 3 represents an opportunity for lower annual property taxes.

The increased exemption could also help offset some of the rising expenses associated with homeownership, including insurance premiums, maintenance, and other housing costs.

According to Broward County Property Appraiser Marty Kiar, homeowners who already have an approved homestead exemption generally will not need to reapply to receive the increased exemption.

The Property Appraiser's Office is expected to make the applicable adjustments automatically for eligible homeowners.

Broward homeowners should also watch for information from the Property Appraiser's Office explaining the changes.

Homeowners should review their 2027 Notice of Proposed Property Taxes — commonly called the TRIM notice — when it arrives in August.

Remember that the expanded exemption will not reduce your November 2026 property tax bill.

This is where the changes become particularly interesting.

Amendment 3 could make owning a home in Florida more affordable for some buyers, but eligibility depends partly on when someone established permanent residency in the state.

Suppose you've been living in Broward County for several years and decide to purchase your first home in 2027.

If you were a permanent Florida resident as of December 31, 2026, you may qualify for the increased homestead exemption when you purchase a qualifying primary residence and meet the applicable requirements.

This is important because you do not necessarily need to have owned a home in Florida before December 31, 2026.

The key distinction is whether you already maintained permanent residency in Florida by the required date.

For an existing Florida resident purchasing a home after January 1, 2027, the first year of homestead eligibility will generally be the following tax year, assuming the applicable ownership and permanent-residence requirements are met.

For someone moving to Florida from another state beginning in 2027, the rules are different.

Under Amendment 3, new Florida residents will initially receive the smaller homestead exemption when they qualify.

They generally will not receive the expanded exemption immediately.

Instead, they become eligible for the larger exemption beginning with their fifth year of homestead exemption, subject to applicable constitutional and implementing rules.

The smaller exemption for new residents begins at $50,000 for non-school taxes, with inflation adjustments beginning in 2028.

What this means: A buyer relocating to Broward County in 2027 may initially have a different property tax obligation than an otherwise similarly situated buyer who established Florida residency before the end of 2026.

This makes careful financial planning particularly important for people considering a move to South Florida.

As a South Florida REALTOR® with more than 21 years of local experience, this is something I regularly discuss with buyers.

When you purchase a home in Florida, the seller's existing property tax bill is not necessarily a reliable indication of what you will pay after closing.

The seller may have owned the property for many years and benefited from Florida's Save Our Homes assessment limitations.

When ownership changes, the property is generally reassessed for the following tax year based on its just value, subject to applicable rules and exemptions.

That reassessment can significantly increase the property's assessed value.

Even with Amendment 3's expanded exemption, buyers should carefully estimate their future property taxes rather than relying on the seller's current bill.

For example, a homeowner in Weston who purchased a property 20 years ago could have a substantially different assessed value from someone purchasing a similar property today.

The same applies to homes in Parkland, Fort Lauderdale, Coral Springs, Hollywood, Plantation, and throughout Broward County.

Before making an offer, buyers should review:

• Estimated property taxes following a transfer of ownership
• Homestead exemption eligibility
• Save Our Homes portability, if applicable
• Homeowners insurance costs
• Flood insurance requirements
• HOA or condominium fees
• Any special assessments or additional property-related charges

A home that appears affordable based on the seller's existing expenses may have a different monthly ownership cost after closing.

The Broward County Property Appraiser offers a New Homebuyer's Tax Estimator. As of November 2026, the estimator indicates that it does not yet reflect Amendment 3, so buyers should consider that limitation when reviewing estimates.

No. Florida's existing Save Our Homes protection remains in place.

Under Save Our Homes, the annual increase in assessed value for a qualifying homestead property is generally limited to 3% or the Consumer Price Index, whichever is lower.

This protection can be especially valuable for homeowners who have owned their properties for many years.

Amendment 3 increases the homestead exemption but does not eliminate the existing Save Our Homes assessment limitation.

Florida's portability provisions also remain available to eligible homeowners who move from one homesteaded property to another.

That means some current Florida homeowners may benefit from both the larger exemption and their existing assessment protections when they make their next move.

Amendment 3 also includes a change that may be significant for real estate investors.

Although rental properties, second homes, and vacation properties generally do not qualify for the expanded primary-residence homestead exemption, the amendment reduces the annual assessment increase cap for qualifying non-homestead properties from 10% to 5%.

This applies to non-school property tax assessments.

For investors, a lower assessment growth cap could help limit how quickly taxable assessed values increase over time.

However, the 5% cap does not guarantee that property tax bills will increase by no more than 5%.

Changes in millage rates, school assessments, ownership, and other factors can still affect the final bill.

Investors should also remember that the assessment limitation generally does not prevent reassessment following a qualifying change in ownership.

One of the most interesting questions is whether lower property taxes could influence buyer demand and home values.

Property taxes are an important part of a homeowner's monthly housing expenses, particularly when combined with mortgage payments, insurance, and association fees.

For eligible buyers, lower anticipated property taxes could improve affordability and make some homes more financially attractive.

That could potentially encourage additional buyers to explore homeownership or consider moving to a different property.

However, there is no guarantee that Amendment 3 will cause home prices to increase or lead to an immediate rise in real estate sales.

Mortgage rates, available inventory, insurance costs, employment conditions, and overall consumer confidence will continue to influence the housing market.

For sellers, the amendment may become another factor buyers evaluate when considering the total cost of owning a property.

The most important point is that the tax changes should be considered alongside current market conditions rather than treated as a reason to expect higher selling prices automatically.

Although Amendment 3 is intended to reduce certain property taxes, there are additional financial considerations.

Cities and counties rely on property tax revenue to help fund services such as public safety, infrastructure, parks, and local government operations.

Reducing the taxable value of qualifying residential properties will reduce property tax revenue unless other factors offset those reductions.

Local governments may need to evaluate budgets, tax rates, service levels, or alternative sources of revenue.

Amendment 3 also establishes restrictions on how counties and municipalities may use property tax revenues, while allowing certain additional expenditures subject to its provisions.

The amendment provides a framework under which local governments may further increase qualifying homestead exemptions, subject to implementing laws and applicable approval requirements.

For homeowners, this means the actual long-term financial impact will depend not only on the expanded exemption but also on future decisions made by local taxing authorities.

It's important to monitor these developments rather than assume every component of a property tax bill will decrease.

For homeowners in Broward County, there are several practical steps worth considering before the new rules take effect.

1. Confirm your homestead exemption. Make sure your property has the correct exemption and that your ownership and residency information are accurate.

2. Review your assessed value. The amount of potential savings depends partly on your property's assessed value, which may be substantially different from its market value.

3. Watch for your 2027 TRIM notice. This notice will show your proposed property taxes and provide important details about your assessed and taxable values.

4. Understand the deadlines. Buyers seeking a 2027 homestead exemption generally must own and occupy the property as their permanent residence by January 1, 2027. The standard timely application deadline is March 1, 2027.

5. Reevaluate your housing plans if necessary. If you're considering selling, downsizing, purchasing another home, or relocating within Florida, evaluate the entire financial picture, including property taxes, insurance, and mortgage payments.

For more information or to apply for a homestead exemption, visit the Broward County Property Appraiser's Office.

Yes. Florida voters approved Amendment 3 on November 3, 2026, with approximately 62% voting in favor, exceeding the 60% threshold required for constitutional amendments.

The amendment takes effect January 1, 2027. The expanded homestead exemption will first appear on property tax bills issued in November 2027.

Homeowners who already have an approved homestead exemption generally do not need to reapply. The Broward County Property Appraiser's Office is expected to apply the increased exemption automatically for eligible properties.

The expanded homestead exemption applies only to qualifying primary residences. However, Amendment 3 does reduce the annual assessment increase cap for non-homestead properties from 10% to 5% for non-school property taxes.

No. Buyers who establish Florida residency after December 31, 2026 will initially receive the smaller exemption. They generally become eligible for the larger expanded exemption beginning with their fifth year of homestead exemption, subject to applicable rules.

No. Save Our Homes remains in place. The annual increase in assessed value for qualifying homestead properties continues to be limited to 3% or the Consumer Price Index, whichever is lower.

Florida's property tax changes are one of many factors that affect the true cost of homeownership in South Florida.

Whether you're considering buying, selling, or simply evaluating your options, understanding the full financial picture — including property taxes, insurance, HOA fees, and mortgage costs — is essential to making a confident decision.

At Your Realtor For Life Team at Florida Grande Real Estate, we help buyers and sellers throughout Broward County navigate the local market with clarity and confidence.

Thinking about selling your Broward County home? We offer full-service real estate representation with a 1% listing-side commission, providing professional marketing, hands-on service, experienced negotiation, and guidance from listing through closing.

Request a free home valuation to find out what your Broward County home is worth in today's market, or contact us with any questions.

This article is for informational purposes only and does not constitute legal, tax, or financial advice. Property tax rules, exemption eligibility, and implementing legislation are subject to change. Consult a qualified tax professional or the Broward County Property Appraiser's Office for guidance specific to your situation.

1% commission applies to the listing side only. A $3,500 minimum listing commission applies to properties below $350,000. Buyer-broker compensation, if any, is separate and negotiable. Closing costs are additional. Eligibility and terms are subject to a written listing agreement.

Erik Granda is a Florida REALTOR® with more than 21 years of South Florida real estate experience and the founder of Your Realtor For Life Team at Florida Grande Real Estate. He specializes in residential sales throughout Broward, Miami-Dade, and Palm Beach counties. Contact Erik to discuss your real estate goals.