Florida Amendment 3 Passes: What Brevard Homeowners Need to Know

How the expanded homestead exemption could lower property taxes for Space Coast homeowners

BREVARD COUNTY, FLORIDA — Florida voters have approved Amendment 3, paving the way for one of the most significant changes to the state’s homestead property tax exemption in decades.

The constitutional amendment surpassed Florida’s required 60% voter approval threshold, expanding the homestead exemption for non-school property taxes beginning in 2027, with additional relief scheduled for 2028.

For qualifying homeowners throughout Brevard County, the changes could translate into substantial annual property tax savings, although the actual amount will depend on each property’s assessed value and local tax rates.

How Amendment 3 Changes Florida’s Homestead Exemption

Today, qualifying homeowners receive roughly $50,000 in homestead exemptions against non-school property taxes ($51,411 in 2026 after inflation indexing).

Under Amendment 3, that exemption increases in two stages:

• 2027: Up to $150,000 of assessed value exempt from non-school property taxes.

• 2028: Up to $250,000 of assessed value exempt from non-school property taxes.

• 2029 and beyond: The exemption adjusts annually for inflation.

The expanded exemption applies to qualifying primary residences, not vacation homes, rentals, or commercial property.

Importantly, the amendment does not eliminate property taxes.

School district property taxes remain in place with the existing $25,000 exemption, and homeowners will still owe non-school taxes on assessed value above the applicable exemption.

How Much Could Brevard County Homeowners Save?

For homeowners in Cocoa Beach, Cape Canaveral, Merritt Island, Melbourne, Satellite Beach, Viera, and surrounding Space Coast communities, savings will depend on assessed value, existing exemptions, and local millage rates, which vary by city and taxing district.

Florida TaxWatch puts the statewide average non-school property tax rate at about $10.50 per $1,000 of taxable value.

At that average rate, a qualifying homestead assessed above $250,000 would save approximately:

Tax Year	Homestead Exemption (Non-School)	Estimated Annual Savings*
2027	Up to $150,000	About $1,035
2028	Up to $250,000	About $2,085

*Florida TaxWatch estimate based on the statewide average non-school rate. This is not a Brevard County calculation or a guaranteed savings figure. Actual savings may be higher or lower depending on the property and taxing district.

The exemption reduces taxable assessed value. It is not a cash payment or a dollar-for-dollar reduction in the tax bill.

What About Homeowners Moving to Florida?

Amendment 3 includes an important provision for new Florida residents.

Individuals who were not permanent Florida residents as of December 31, 2026, generally start with the existing homestead exemption when they qualify. The larger exemption becomes available beginning in their fifth year of eligibility.

That distinction matters most for buyers relocating to the Space Coast from other states.

What Does This Mean for the Space Coast Real Estate Market?

The expanded exemption could influence the long-term cost of homeownership, especially for residents weighing whether to stay in their current homes.

“Property taxes are a major part of the conversation when someone is buying a home here on the Space Coast,” said Freeman.

“This change could provide meaningful relief for qualifying homeowners, but the actual savings will be different for every property. Buyers and sellers need to look at the full picture, not just the headline.”

Property taxes can also change when a home sells and is reassessed. Buyers should estimate taxes based on their own circumstances rather than relying on the seller’s current tax bill.

Other Important Changes in Amendment 3

Beyond the homestead exemption, the amendment reduces the annual assessment increase cap on non-homestead properties from 10% to 5%.

That provision affects rental properties, second homes, and commercial real estate, although it limits increases in assessed value, not tax bills themselves.

Millage rates, fees, and non-ad valorem assessments can still change.

The amendment also changes rules governing how counties and municipalities may use property tax revenue and directs the Legislature to create a process for local governments to offer additional homestead exemptions.

Supporters have emphasized savings for homeowners, while opponents, including sheriffs, fire officials, and local governments, have raised concerns about reduced local revenue and the potential impact on public services.

What Should Brevard County Homeowners Do Next?

Homeowners should confirm their current homestead exemption status, understand their property’s assessed value, and watch for guidance from the Brevard County Property Appraiser and local taxing authorities as the changes are implemented.

Anyone considering a purchase should pay close attention to future eligibility, particularly if relocating to Florida after December 31, 2026.

With the first changes scheduled for January 1, 2027, Amendment 3 represents a significant shift in Florida’s property tax system, one that could affect homeownership costs across the Space Coast for years to come.

Bobby Freeman is a lifelong Brevard County resident and Space Coast REALTOR® with more than 22 years of experience and over $520 million in closed real estate sales. Together with Nikki McCoy Freeman, he leads the McCoy Freeman Group at Compass, specializing in oceanfront condominiums, waterfront homes, luxury properties, and investment real estate throughout Brevard County.

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