Amendment 3 homestead exemption changes are now official: on November 3, 2026, Florida voters approved Amendment 3 with roughly 62 percent of the vote, clearing the 60 percent threshold. For Palm Beach County homeowners, and for anyone buying a primary residence here, it is the biggest property tax change in years. Here is what it does, who qualifies and how it can affect your next move.
What the Amendment 3 homestead exemption does
The amendment expands the homestead exemption for non-school property taxes to $150,000 starting in 2027 and $250,000 starting in 2028, with the exemption adjusted for inflation in later years. School district taxes are treated separately: the existing $25,000 school exemption stays in place. You can read the Legislature's own summary of the joint resolution in this Florida Senate release.
Who qualifies, and why the calendar matters
The larger exemption is aimed at owners who established permanent Florida residency by December 31, 2026. Owners who establish a new homestead after that receive a smaller non-school exemption for an initial period of years before stepping up to the full benefit. The Legislature is still setting the implementing details, so confirm your own eligibility with the Palm Beach County Property Appraiser before you make a decision based on it. For the filing basics, see our homestead exemption guide for Palm Beach County.
Save Our Homes and portability still apply
Amendment 3 keeps the Save Our Homes cap, which limits annual increases in a homestead's assessed value to 3 percent or the change in CPI, whichever is lower. Portability, which lets you carry up to $500,000 of accumulated savings to a new Florida homestead, is also preserved. For many move-up and downsizing sellers, portability combined with the new exemption makes a local move more affordable than it looks on paper.
What it means for buyers
Buyers should look past the seller's current tax bill. Taxes reset after a sale, so ask your agent to estimate what you will pay based on the purchase price, your homestead status and the new exemption schedule; our guide to property taxes in Palm Beach County explains how the bill is built. Remember the basics too: you must own and live in the home as your permanent residence on January 1, then file by March 1 to claim the homestead exemption for that year. Our home buying resources walk through the rest of the process.
What it means for sellers and investors
Lower carrying costs for homesteaded owners can support demand for primary residences across Palm Beach County. Investors and second-home owners do not receive the homestead exemption, but the annual assessment cap on certain non-homestead property drops from 10 percent to 5 percent beginning in 2027. If you are weighing a sale, see why sellers list with us and how we price homes in today's market.
Key dates to watch
Mark these on your calendar: the $150,000 non-school exemption takes effect for the 2027 tax year, the homestead filing deadline for 2027 is March 1, 2027, and the exemption rises to $250,000 for the 2028 tax year. Local governments expect the largest budget impact in 2028, so watch for changes in local millage rates as budgets are reset.
Plan your next move with a local expert
Every situation is different, so talk with a tax professional about your numbers, and talk with us about the market. The John Diaz Group at KW Reserve Palm Beach helps buyers and sellers across Palm Beach County real estate make confident, well-timed decisions. Call 844-456-4647 for a free home valuation or a buyer consultation. Hablamos español.
