Florida’s proposed 2026 property-tax Amendment 3 is on the November 3, 2026 general-election ballot. It is not the 2024 cannabis measure that also used the Amendment 3 label. If voters approve it, some homestead owners could receive a larger exemption from non-school property taxes—but school taxes and other charges would remain. A Mortgage Expert example for one Lake Mary home estimates a $1,816 annual reduction while leaving a $6,355 bill; those figures are not a statewide estimate or a promise of what a future bill will be.
What the $1,816 cut and $6,355 bill represent
In an October 5, 2026 release, Mortgage Expert estimated annual property taxes on a Lake Mary home at $8,171 under current rules and $6,355 under the proposed 2028 exemption. The $1,816 reduction is the difference between those two estimates.
The illustration uses a home assessed at $610,216 before exemptions. It assumes standard homestead eligibility, no additional exemptions, and holds 2026 assessed values and tax rates constant. It excludes separate assessments and early-payment discounts. Mortgage Expert describes the calculation as educational, not a guaranteed future bill. The company did not provide an independently audited calculation in the materials available for the estimate.
Shahram Sondi, identified in the release as a licensed mortgage loan originator and Certified Mortgage Advisor™, said: “I ran my own home through the calculation first. Saving about $1,800 a year matters. So does knowing I would still owe about $6,400. Homeowners need both numbers.” That is his statement in the company release, not independent verification of the estimate. Mortgage Expert’s release
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What Amendment 3 would change if voters approve it
The Volusia County Property Appraiser’s FAQ describes a proposed non-school homestead exemption of up to $150,000 beginning January 1, 2027, rising to up to $250,000 beginning January 1, 2028. It says the amounts would receive CPI adjustments beginning in 2029. The proposal would retain a $25,000 exemption for school taxes. These changes are conditional on voter approval and implementation; they are not current tax rules. Volusia County Property Appraiser Amendment 3 FAQ
Residency timing matters
Under the county FAQ’s description, permanent Florida residents as of December 31, 2026 could qualify for the larger proposed exemptions, subject to constitutional requirements. People establishing Florida residency on or after January 1, 2027 would start with a separate exemption. The FAQ says they could qualify for the larger exemption after maintaining a Florida homestead exemption for four years, applying in the fifth year. That distinction means the proposal should not be treated as giving every new buyer the same exemption immediately.
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Non-homestead properties
Florida TaxWatch says the proposal would also reduce the assessment cap for non-homestead properties from 10% to 5%. TaxWatch warns that lower local property-tax revenue could create pressure for service reductions or alternative revenue, such as taxes or fees. These are possible local-government responses described by TaxWatch, not certain effects on any particular household. Florida TaxWatch analysis of Amendment 3
Why homeowners could still owe substantial property taxes
The proposed increase applies to non-school taxes. School taxes would not disappear: the county FAQ says the first $25,000 of assessed value would remain exempt from school taxes. Other parts of a bill may also remain, including taxes tied to taxable value and any separate assessments.
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A larger exemption reduces the value subject to certain levies; it does not erase every levy or charge. The result depends on the property’s assessed and taxable value, local non-school millage rates, school levies, existing exemptions, and any Save Our Homes benefits. Volusia County says actual savings cannot be determined until implementing legislation is finalized and future tax rates are established.
How the example compares with a statewide illustration
Florida TaxWatch offers a separate statewide-average illustration using its stated average non-school tax rate. It estimates that homes assessed above $250,000 would save $1,035 in 2027 and $2,085 in 2028. These are TaxWatch’s estimates, not a validation of Mortgage Expert’s Lake Mary calculation. The two examples use different stated assumptions and should not be combined.
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| Illustration | Assumption and result | What it does not establish |
|---|---|---|
| Mortgage Expert, Lake Mary | For a home assessed at $610,216 before exemptions, estimated annual taxes fall from $8,171 to $6,355 under the proposed 2028 exemption, a $1,816 difference. The calculation holds 2026 values and rates constant and assumes standard homestead eligibility without additional exemptions. | A typical Florida bill, an independently audited result, or a guaranteed future amount. |
| Florida TaxWatch, statewide-average illustration | At its stated average non-school rate, TaxWatch estimates savings of $1,035 in 2027 and $2,085 in 2028 for homes assessed above $250,000. | The savings for a specific home or a confirmation of Mortgage Expert’s assumptions. |
What to check before estimating your own savings
A seller’s current tax bill may not be a sound basis for your own housing budget. Mortgage Expert recommends getting a property-specific estimate. To make that estimate useful, check:
- Whether the home qualifies for a Florida homestead exemption and when you establish Florida residency.
- The property’s assessed value and the exemptions already applied.
- Local non-school millage rates and the school-tax portion of the bill.
- Any Save Our Homes benefit, other exemptions, or separate assessments.
- Whether the estimate uses current values and rates or assumes future changes.
Until the proposal’s implementation details and future rates are settled, a property-specific estimate can clarify assumptions but cannot guarantee a future bill.
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