What Florida homeowners, buyers, sellers, investors, and future residents should know about the proposed 2026 property tax amendment
Property taxes are an important part of the cost of owning real estate in Palm Coast, Flagler County and throughout Florida. In November 2026, Florida voters will consider Amendment 3, a proposed constitutional amendment that could significantly change homestead exemptions and the way certain non-homestead properties are assessed.
The measure will appear on Florida's November 3, 2026, general election ballot and needs at least 60% voter approval to pass. If approved, the principal changes would begin January 1, 2027.
Here are answers to some of the most frequently asked questions about Florida Amendment 3 and property taxes.
What is Florida Amendment 3?
Amendment 3 is a proposed amendment to the Florida Constitution designed to change several aspects of Florida's property tax system.
Among its major provisions, Amendment 3 would increase the homestead exemption applying to non-school property taxes, reduce the annual assessment-growth cap on non-homestead properties, and establish additional rules governing property-tax revenue.
For qualifying Florida residents, the proposed non-school homestead exemption would increase to:
$150,000 beginning in 2027
$250,000 beginning in 2028
Beginning in 2029, the maximum exemption would receive annual inflation adjustments.
Does a $250,000 homestead exemption mean homeowners save $250,000?
No. This is an important distinction.
A homestead exemption reduces the portion of a home's assessed value that is subject to certain property taxes. It does not mean a homeowner receives $250,000 or that their annual tax bill is reduced by $250,000.
The actual tax savings would depend on factors including the home's assessed value and the applicable local millage rates.
For Palm Coast and Flagler County homeowners, that means two homes with different assessed values or taxing circumstances could see different dollar savings even if both qualify for the exemption.
Would Amendment 3 affect school funding?
The increased $150,000 and $250,000 homestead exemptions apply to non-school property taxes.
The proposal maintains a separate $25,000 exemption for school district property taxes, so the expanded exemption itself does not apply against school millage.
What happens to non-homestead properties?
Amendment 3 isn't only important for people living in their primary residences.
The proposal would reduce the annual assessment-growth cap on qualifying non-homestead properties from 10% to 5%.
That provision could be particularly relevant to owners of:
- Second homes and vacation properties
- Rental properties
- Commercial real estate
- Other qualifying non-homestead properties
For a real estate market such as Palm Coast and Flagler County, where second homes, vacation properties and investment properties are common, this is an important part of Amendment 3 to understand.
What if I move to Florida after December 31, 2026?
Amendment 3 contains an important provision for future Florida residents.
People who are not Florida residents on December 31, 2026, would initially receive the existing-level homestead exemption once they qualify. Under the amendment, the larger exemption generally becomes available beginning with the fifth year of exemption, subject to federal constitutional requirements.
This provision could be particularly important for people considering relocating to Palm Coast, Florida, in 2027 or later.
When would Amendment 3 take effect?
Florida voters will decide Amendment 3 during the November 3, 2026, general election.
A Florida constitutional amendment requires at least 60% voter approval. If Amendment 3 passes, it is scheduled to take effect January 1, 2027, with the larger $250,000 non-school homestead exemption beginning in 2028.
Why does Florida Realtors support Amendment 3?
Florida Realtors' Board of Directors voted to support Amendment 3 in August 2026. The organization says the proposal could provide meaningful property-tax relief and help make homeownership more attainable and sustainable for Floridians.
Florida Realtors has since launched a Vote Yes on 3 campaign supporting the amendment.
It is also worth recognizing that a major reduction in property-tax revenue can raise questions about local-government budgets and services. State estimates project substantial reductions in local non-school property-tax revenues if the amendment passes, so voters may want to consider both potential homeowner savings and the broader fiscal effects when evaluating the proposal.
What could Amendment 3 mean for Palm Coast homeowners?
For qualifying homeowners with a Palm Coast homestead exemption, Amendment 3 could mean a larger portion of their assessed property value is exempt from non-school property taxation.
But the exact savings would not be identical for every homeowner. Your assessed value, exemptions, millage rates and individual circumstances all affect the final property-tax bill.
That's why homeowners should not simply assume that a "$250,000 exemption" translates into a particular dollar amount of annual savings.
What could Amendment 3 mean for Palm Coast real estate?
Property taxes are one component of the overall cost of homeownership, along with mortgage payments, homeowners’ insurance, HOA or community fees, maintenance and other expenses.
Changes that affect property taxes can therefore become part of the conversation for people considering buying a home in Palm Coast, selling a Palm Coast home, purchasing a Florida vacation property or relocating to Flagler County.
For current homeowners, understanding the proposed changes can also help with long-term financial and real estate planning.
Stay Informed About Palm Coast Real Estate
Amendment 3 is still a proposal as of September 2026. Current Florida property-tax laws remain in effect unless Florida voters approve the amendment.
As the election approaches, homeowners should rely on official state and local sources for the latest ballot language, eligibility requirements, and property-tax information.
At The Goellner Team, we believe real estate is about much more than simply buying or selling a house. It's also about helping our community understand the local issues that can affect homeownership, property values, and the Palm Coast real estate market.
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Richard Goellner | Listing Specialist
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Heidi Epperson | Buyer Specialist
📞 636-312-1913
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Whether you're considering selling your Palm Coast home, buying property in Flagler County, relocating to Florida or simply want to stay informed about issues affecting local homeowners, The Goellner Team is here to help.
