New Florida TaxWatch estimates reveal the potential savings across the Space Coast.
ABOVE VIDEO: Amendment 3 could save qualifying homesteaded homeowners in Brevard County between $352 and $1,131 on their non-school property taxes in 2027, and between $710 and $2,279 in 2028, according to new estimates from Florida TaxWatch.
BREVARD COUNTY, FLORIDA – Amendment 3 could save qualifying homesteaded homeowners in Brevard County between $352 and $1,131 on their non-school property taxes in 2027, and between $710 and $2,279 in 2028, according to new estimates from Florida TaxWatch.
Florida voters will decide the amendment in the General Election on Tuesday, November 3, 2026.
The estimates break down potential savings for 18 Brevard County locations, including Cocoa Beach, Cape Canaveral, Merritt Island, Melbourne, Palm Bay, Satellite Beach, Titusville and Viera.
They show that where a homeowner lives can change the potential savings by hundreds of dollars a year.
Bobby Freeman, a lifelong Space Coast resident and Brevard County Realtor with the McCoy Freeman Group at Compass Florida, has been tracking Amendment 3 and what it could mean for local homeowners, property owners and the Brevard County real estate market.
Key Takeaways: Amendment 3 in Brevard County
What it does: Raises Florida’s homestead exemption for non-school property taxes to $150,000 in 2027 and $250,000 in 2028, then adjusts it for inflation.
Largest Brevard savings: Satellite Beach, at an estimated $1,131 in 2027 and $2,279 in 2028.
Smallest Brevard savings: Unincorporated Brevard County, at an estimated $352 in 2027 and $710 in 2028.
Cocoa Beach: An estimated $944 in 2027 and $1,902 in 2028.
Cape Canaveral: An estimated $658 in 2027 and $1,326 in 2028.
Merritt Island: An estimated $882 in 2027 and $1,780 in 2028.
School taxes: Not affected. The expanded exemption does not apply to school property taxes.
Non-homestead property: The annual assessment cap on many second homes, rentals and commercial properties would drop from 10% to 5% for non-school taxes.
To pass: Requires at least 60% voter approval. If approved, it takes effect January 1, 2027.
“One of the biggest questions I hear from Brevard County homeowners is what Amendment 3 could actually mean for their property tax bill,” Freeman said. “These new estimates put the proposal into real local numbers.
A homeowner in Cocoa Beach could see a different impact than someone in Cape Canaveral or Merritt Island, which is why it’s important for Space Coast property owners to understand both the potential savings and what the amendment could mean for local government revenue.”
What Is Florida Amendment 3?
Amendment 3 is a proposed change to the Florida Constitution that would significantly increase the homestead exemption for property taxes other than school taxes.
If approved by at least 60% of Florida voters, Amendment 3 would:
Increase the applicable homestead exemption to $150,000 in 2027
Increase it again to $250,000 in 2028
Adjust the exemption for inflation in the years after 2028
Reduce the annual assessment increase cap on many non-homestead properties from 10% to 5% for non-school property taxes
If approved, the changes would take effect January 1, 2027.
How Much Could Brevard County Homeowners Save Under Amendment 3?
Florida TaxWatch estimates the following potential annual savings for a homesteaded property with enough assessed value to use the full increased exemption. Savings vary by location because each property is subject to a different combination of county, municipal and special district millage rates.
Estimated Amendment 3 Annual Savings by Brevard County Location (Source: Florida TaxWatch)
Brevard County Location
2027 Estimated Savings
2028 Estimated Savings
Cape Canaveral
$658
$1,326
Cocoa
$1,038
$2,091
Cocoa Beach
$944
$1,902
Grant-Valkaria
$708
$1,424
Indialantic
$968
$1,949
Indian Harbour Beach
$896
$1,804
Melbourne
$1,044
$2,102
Melbourne Beach
$806
$1,623
Merritt Island
$882
$1,780
Palm Bay
$1,013
$2,041
Rockledge
$880
$1,772
Satellite Beach
$1,131
$2,279
Sharpes
$641
$1,293
Suntree
$901
$1,814
Titusville
$974
$1,961
Viera
$964
$1,942
West Melbourne
$531
$1,070
Unincorporated Brevard
$352
$710
Satellite Beach shows the highest estimated savings in Brevard County at $1,131 in 2027, followed by Melbourne ($1,044), Cocoa ($1,038) and Palm Bay ($1,013).
Unincorporated Brevard County shows the lowest at $352, followed by West Melbourne ($531) and Sharpes ($641). In every location, estimated savings roughly double in 2028 when the exemption rises to $250,000.
Will Every Brevard Homeowner Save These Amounts?
No. These figures are estimates for a homesteaded property with enough assessed value to use the full increased exemption. They are not the amount every homeowner will save.
Actual savings depend on three factors:
Assessed value: Properties with lower assessed values may not have enough taxable value to use the entire additional exemption.
Homestead status: The expanded exemption applies only to homesteaded primary residences.
Local millage rates: The combination of county, municipal and special district non-school millage rates that apply to the property.
Because school property taxes do not receive the expanded exemption, Amendment 3 would not remove $150,000 or $250,000 from the value used to calculate every portion of a homeowner’s tax bill.
Why Do Cocoa Beach and Cape Canaveral Homeowners Save Different Amounts?
Two homeowners with similarly valued homes can see different savings depending on which city they live in. A qualifying homesteaded property in Cocoa Beach shows estimated savings of $944 in 2027 and $1,902 in 2028, compared with $658 and $1,326 in neighboring Cape Canaveral.
The difference comes primarily from the non-school millage rates charged by each municipality and its taxing districts. Along the Space Coast, a total property tax bill can include levies from Brevard County, the city, and several special taxing districts in addition to school taxes. The higher a location’s combined non-school millage, the more a larger exemption is worth.
How Could Amendment 3 Affect Brevard County Government Revenue?
The other side of the equation is the effect on the local governments and special districts that currently receive those property tax dollars.
A calculator released September 29 by the Florida Policy Institute, using analysis from the Institute on Taxation and Economic Policy, estimates the potential effect of Amendment 3 on counties, municipalities and special taxing districts.
The analysis uses Florida’s final 2025 real property tax roll and 2025 millage rates to estimate the effect at the individual parcel level.
Statewide, the organization estimates Amendment 3 could reduce local property tax revenue by approximately $13.7 billion during its first two years. That figure includes potential impacts on county and municipal operations as well as special districts that fund services such as fire rescue and EMS, conservation and water management, mosquito control and libraries.
Estimates from different organizations and governments may not match. Some examine only certain county taxing districts, while others include municipalities and numerous independent or dependent special districts.
They may also use different assumptions about future property values, millage rates and exemptions. All of these numbers should be read as estimates of potential impact, not predictions of a specific future tax bill or government budget.
Cape Canaveral’s Budget Shortfall: Why the Local Government Discussion Matters
Cape Canaveral is currently working through an approximately $4 million budget shortfall after years of relying on reserve funds to cover recurring expenses. City officials have been weighing staffing and service reductions to balance the budget.
To be clear, Cape Canaveral’s existing budget problems were not caused by Amendment 3. The amendment has not been approved and would not take effect until 2027.
The city’s situation does, however, offer a local example of why the debate over municipal property tax revenue matters: local governments must balance what residents pay in taxes against the cost of maintaining services.
The Tradeoff Brevard Voters Are Being Asked to Weigh
For many homesteaded homeowners, Amendment 3 could produce a meaningful reduction in the non-school portion of their property tax bill. For local governments, those same reductions mean less property tax revenue.
Supporters of property tax relief argue that Florida homeowners need additional help after years of rising home values, insurance premiums and other housing costs. Critics and local government advocates have raised concerns about how counties, cities and special districts would replace lost revenue while continuing to provide services.
Possible local responses could include reducing spending, changing service levels, adjusting other taxes or fees where legally permitted, or changing millage rates within constitutional and statutory limits. How individual Brevard County governments would respond cannot be known until the amendment is decided and future budgets are adopted.
How Does Amendment 3 Affect Second Homes, Rentals and Non-Homestead Property?
The homestead exemption has received most of the attention, but Amendment 3 includes a second significant change. Florida currently limits annual assessment increases on many non-homestead properties to 10%. Amendment 3 would lower that cap to 5% for non-school assessments.
That provision could affect second homes, investment condos, rental properties, commercial properties and other non-homesteaded real estate throughout Brevard County, including the many Cocoa Beach and Cape Canaveral condominiums owned by part-time residents and investors.
What Will Brevard Voters See on the Ballot?
Amendment 3 will appear on the November 3 ballot as: “Increased Homestead Exemption; Lower Cap on Increases in Non-Homestead Property Assessments.”
According to the Brevard County Supervisor of Elections, the proposal would increase the homestead exemption for non-school taxes to $150,000 in 2027 and $250,000 in 2028, provide for inflation adjustments thereafter, reduce the non-homestead assessment growth cap from 10% to 5%, and make additional changes concerning local property taxation.
Florida constitutional amendments require approval from at least 60% of voters casting ballots on the amendment.
“The potential savings are significant for some homeowners, but those dollars also help fund local services,” Freeman said. “My goal is to give Space Coast property owners the local numbers and information they need to understand how this could affect their home, their tax bill and their community.”
The Bottom Line for Brevard County Homeowners
Amendment 3 is one of the most significant proposed changes to Florida property taxation in years. For a homesteaded Brevard County homeowner with sufficient assessed value, the expanded exemption could save several hundred dollars in 2027, and more than $1,000 in Satellite Beach, Melbourne, Cocoa and Palm Bay, with roughly double those savings possible once the $250,000 exemption takes effect in 2028.
Those homeowner savings also represent property tax revenue that counties, municipalities and special districts would no longer collect. The final impact on any household will depend on assessed value, location, applicable millage rates and how local governments respond if the amendment passes.
The 2026 General Election is Tuesday, November 3. For official Amendment 3 ballot and voting information, Brevard County residents should consult the Brevard County Supervisor of Elections.
Frequently Asked Questions About Amendment 3 in Brevard County
What is Amendment 3 on the 2026 Florida ballot?
Amendment 3 is a proposed constitutional amendment that would raise Florida’s homestead exemption for non-school property taxes to $150,000 in 2027 and $250,000 in 2028, with inflation adjustments after that. It would also lower the annual assessment cap on many non-homestead properties from 10% to 5% for non-school taxes.
How much could Brevard County homeowners save if Amendment 3 passes?
Florida TaxWatch estimates qualifying homesteaded homeowners in Brevard County could save between $352 and $1,131 in 2027 and between $710 and $2,279 in 2028, depending on location. Actual savings depend on assessed value and local millage rates.
Which Brevard County city would see the largest Amendment 3 savings?
Satellite Beach shows the highest estimated savings in Brevard County, at $1,131 in 2027 and $2,279 in 2028, according to Florida TaxWatch.
How much could Cocoa Beach homeowners save under Amendment 3?
A qualifying homesteaded property in Cocoa Beach could save an estimated $944 in 2027 and $1,902 in 2028, according to Florida TaxWatch.
How much could Cape Canaveral homeowners save under Amendment 3?
A qualifying homesteaded property in Cape Canaveral could save an estimated $658 in 2027 and $1,326 in 2028, according to Florida TaxWatch.
How much could Merritt Island homeowners save under Amendment 3?
A qualifying homesteaded property in Merritt Island could save an estimated $882 in 2027 and $1,780 in 2028, according to Florida TaxWatch.
Does Amendment 3 lower school property taxes?
No. The expanded homestead exemption applies only to non-school property taxes. School taxes would continue to be calculated as they are today.
Does Amendment 3 affect second homes and investment condos?
Yes. Non-homestead properties, including second homes, rentals and investment condos, would not receive the larger homestead exemption, but the annual cap on their non-school assessment increases would drop from 10% to 5%.
When would Amendment 3 take effect?
If approved by at least 60% of voters on November 3, 2026, Amendment 3 would take effect January 1, 2027.
How could Amendment 3 affect local government budgets?
The Florida Policy Institute, using Institute on Taxation and Economic Policy analysis, estimates Amendment 3 could reduce local property tax revenue statewide by approximately $13.7 billion over its first two years, affecting counties, cities and special districts that fund services such as fire rescue, EMS, libraries and mosquito control.
About Bobby Freeman
Bobby Freeman is a lifelong Brevard County resident and longtime Space Coast Realtor with the McCoy Freeman Group at Compass Florida LLC. With more than 22 years of real estate experience and more than 1,500 closed transactions, Freeman specializes in Cocoa Beach, Cape Canaveral and Brevard County residential and condominium real estate. He is a regular Space Coast Daily contributor and provides local housing market analysis and information affecting Space Coast homeowners.
Sources: Florida TaxWatch; Brevard County Supervisor of Elections; Florida Policy Institute; Institute on Taxation and Economic Policy; publicly available Brevard County and municipal information. Estimates are for informational purposes and are not tax advice.
