Florida Amendment 3 and Fort Lauderdale Real Estate: What Buyers, Sellers and Investors Should Know Before November 3rd

For anyone buying, selling or holding property in Fort Lauderdale and across Broward County, the outcome could change the math on monthly carrying costs, investment returns and even the timing of a move. Here’s a plain-English breakdown of what’s on the ballot and what it could mean for you.

What Is Florida Amendment 3?

Amendment 3, officially the “Save Our Homes From Excessive Property Taxes” amendment, was passed by the Florida Legislature in a June 2026 special session (House 75–26, Senate 30–9). Despite the similar name, it does not replace the original 1995 Save Our Homes 3% assessment cap. That protection stays in place.

If approved, the amendment would:

• Expand the homestead exemption for non-school taxes to $150,000 starting January 1st, 2027, and $250,000 starting January 1st, 2028, adjusted for inflation from 2029.
• Lower the assessment cap on non-homestead property (rentals, second homes and commercial buildings) from 10% to 5% a year, starting in 2027.
• Phase in benefits for newcomers. People who establish Florida residency after December 31st, 2026 would start with a smaller $50,000 non-school exemption and wait five years for the full amount.
• Limit how counties and cities spend property tax revenue to listed purposes such as public safety, infrastructure, flood control and debt service.
• Direct the Legislature to create a future schedule for fully eliminating non-school homestead property taxes. No timeline has been set.

School district taxes are not affected. Your school levy and its $25,000 exemption stay the same either way.

What It Could Mean for Fort Lauderdale Homeowners

For a primary residence, the savings can be meaningful. Using a $400,000 assessed value and a 15-mill non-school tax rate as an example, the non-school portion of the bill would fall from about $5,625 a year today to about $2,250 once the $250,000 exemption is fully phased in. That’s roughly $3,375 a year, or about $280 a month for homeowners paying through escrow.

Your actual savings depend on your assessed value (not your market value) and your local millage rate, which varies across Fort Lauderdale, Wilton Manors, Oakland Park and the rest of Broward. Long-time owners whose assessed value is already held well below market by the 3% cap would see a larger share of their bill disappear.

Buyers: Does It Pay to Buy Before 2027?

This is the question we’re hearing most. The answer depends on where you’re coming from.

• Buyers already living in Florida would generally qualify for the full enhanced exemption on a new homestead, and can still port up to $500,000 of accumulated Save Our Homes benefit from a previous Florida home.
• Buyers relocating from out of state face a real timing question. If the amendment passes, establishing Florida residency before December 31st, 2026 could mean the difference between the full exemption and a five-year phase-in. Residency rules have specific requirements, so talk with a tax professional before making a move based on this alone.
• Everyone else should keep in mind that the market itself isn’t waiting. Broward’s single-family market has tightened considerably over the past year, as the numbers below show.

Source: Florida Realtors data via the Miami Association of Realtors, released August 17, 2026.

Sellers: A Stronger Pitch to Local Move-Up Buyers

If Amendment 3 passes, the lower ongoing tax bill on a primary residence becomes part of the value story for homes in the $500,000 to $1.5 million range, where the $250,000 exemption covers a large share of assessed value. Listings that clearly show buyers their estimated taxes under both scenarios will stand out. It’s also a reason to keep an eye on condo listings, where buyers are already weighing milestone inspection reports and reserve requirements alongside taxes.

Investors and Second-Home Owners: The 5% Cap Is the Headline

Rental properties and second homes don’t qualify for the homestead exemption, so the bigger change for investors is the cap on annual assessment increases dropping from 10% to 5%. In a market where values keep climbing, that slows the growth of your tax bill and makes long-term holding costs more predictable.

This is especially relevant for international and part-time owners, including many of our French-speaking and international clients, who hold Fort Lauderdale property as a second home and can’t claim a homestead.

The Debate Behind the Vote

Supporters, led by Governor DeSantis, argue that property taxes have become a major affordability burden. They point to local property tax collections that grew from about $32 billion to $60 billion in seven years and are projected to reach $83 billion by 2032.

Critics, including Democratic legislators and fiscal groups like the Tax Foundation and Florida Policy Institute, call it a tax shift rather than a tax cut. Legislative estimates put the hit to local government revenue at about $4.6 billion in 2027–28 and $8.4 billion in 2028–29. Opponents warn that cities and counties may raise fees or other taxes to fill the gap, costs that could fall on renters and newcomers who don’t benefit from the exemption.

How you vote is your call. Our job is to help you understand how either outcome affects your property decisions.

What to Do Now, Whatever Happens on November 3rd

1. Confirm your homestead exemption is filed and correctly applied on your TRIM notice. The filing deadline is March 1.
2. Check your assessed value. If you believe your home is over-assessed, you can appeal through the Broward County Value Adjustment Board.
3. Run both scenarios before you buy, sell or refinance. Look at your carrying costs with and without the amendment.
4. If you’re relocating, talk to a tax advisor now about the December 31, 2026 residency date.

Frequently Asked Questions

When would Amendment 3 take effect?
If approved by at least 60% of voters on November 3, 2026, most provisions take effect January 1st, 2027. The $250,000 exemption begins January 1st, 2028.

Does Amendment 3 eliminate property taxes in Florida?
No. It raises the homestead exemption on non-school taxes and directs the Legislature to plan a path to eliminating them, with no deadline. School taxes are unchanged.

Does Amendment 3 apply to rental properties or second homes?
They don’t get the larger homestead exemption, but their annual assessment cap would drop from 10% to 5% starting in 2027.

I’m moving to Florida in 2027. Will I get the full exemption?
Under the amendment, new residents after December 31st, 2026 would start with a $50,000 non-school exemption and need five years of residency to reach the full amount.

Does it replace the Save Our Homes 3% cap?
No. The existing 3% cap on homestead assessment increases, and portability, remain in place.

Thinking About Buying or Selling in Fort Lauderdale?

Whether Amendment 3 passes or not, timing and taxes will shape the smartest move for your situation. Contact us today for a personalized look at what your home, or your next one, would cost to own under both scenarios.

This article is for general information only and is not tax or legal advice. Consult a qualified tax professional about your specific situation.