Amendment 3 passed on November 3, 2026, and now every Florida homeowner wants the same answer: what does this mean for my tax bill? The good news is that you can calculate your homestead exemption savings yourself in about two minutes. You need three numbers, one simple formula, and the rules of the new law. This guide walks you through it, and the free calculator below runs the math for you.
The Three Numbers You Need
Start with your assessed value. That is the number on your TRIM notice or your latest tax bill, and it is lower than your market value if you have owned your home for a while. Next, find your total tax rate, called your millage, printed on the same bill. Finally, find your school tax rate, which is also listed on the bill by taxing authority. Broward County homeowners pay a school rate of 6.4527, Miami Dade pays 6.6230, and Palm Beach pays 6.2870.
You need the school rate separately because Amendment 3 does not touch school taxes at all. The bigger exemption applies only to county, city, and district taxes. I have said since 2023 that property taxes should be abolished, and Amendment 3 is the first real step Florida voters have taken in that direction, but it is a step on the non school side of your bill only.
The Math, Step by Step
Today, the homestead exemption takes $51,411 off your assessed value for non school taxes and $25,000 off for school taxes. Amendment 3 raises the non school exemption to $150,000 in 2027 and $250,000 in 2028. Your savings come from the extra amount that stops being taxed.
Here is a real example. Take a Broward County home assessed at $450,000, with a total tax rate of 20 mills and the Broward school rate of 6.4527. The non school rate is 20 minus 6.4527, which is 13.5473 mills. In 2027 the extra exempt amount is $150,000 minus $51,411, which is $98,589. Multiply $98,589 by 13.5473 and divide by 1,000, and you get savings of about $1,336 for the year. In 2028 the extra exempt amount grows to $198,589, and the same math gives savings of about $2,690 a year. That is the whole formula: extra exempt value times your non school rate, divided by 1,000.
Run Your Own Numbers
Florida Homestead Exemption Calculator
See what Amendment 3 saves you in 2027 and 2028
How this works: today the homestead exemption takes $51,411 off your assessed value for non school taxes and $25,000 for school taxes. Amendment 3 raises the non school exemption to $150,000 in 2027 and $250,000 in 2028, adjusted for inflation after that. School taxes stay exactly as they are, which is why this calculator splits your rate into a school part and an everything else part.
This is an estimate. It holds your assessed value and tax rates steady so you can see the exemption effect on its own. Your real bill will move with your 2027 and 2028 assessed values and with the rates your county, city, and districts set each year. If you become a Florida resident after December 31, 2026, you receive the current exemption first and the increased exemption beginning with your fifth year of homestead.
Enter your assessed value, pick your county, and type the total rate from your own tax bill. If you are buying a home in South Florida and want to know what the taxes will look like after you file homestead, a local brokerage like Sunset Realty can pull the numbers for any address before you make an offer.
What This Estimate Leaves Out
A calculator holds your assessed value and your tax rates steady so you can see the exemption effect by itself. Your real 2027 and 2028 bills will also move when your assessed value changes and when your county, city, and districts set new rates each fall. One more rule matters: if you become a Florida resident after December 31, 2026, you get the current exemption first, and the increased exemption begins with your fifth year of homestead. Everyone homesteaded by the end of 2026 gets the increase on schedule.
For the full picture of Florida homeowner costs, including insurance, flood coverage, and HOA fees, visit our Florida Homeownership Costs hub.
Your tax savings are only useful if the freed up money has a job. Download the free ebook, Unlocked Vol 2: The Financial Freedom Playbook, for the 30 day sprint and the checklists that turn a lower tax bill into real financial breathing room.
