Amendment 3, on the November 3, 2026 ballot, would raise Florida's homestead exemption for non-school property taxes to $150,000 in 2027 and $250,000 in 2028, and cut the yearly assessment cap on non-homestead property from 10% to 5%. It needs 60% to pass. School taxes would still apply.
Four weeks from today, Florida voters decide the biggest property tax change on the ballot in years. On Monday, News 6 ClickOrlando published city-by-city savings estimates from Florida TaxWatch, including Ocala, Belleview, Dunnellon, and unincorporated Marion County. Here is what the amendment does, what the numbers actually mean, and how I would think about it if you are buying, selling, or investing here.
What is Amendment 3?
The ballot title is "Increased Homestead Exemption; Lower Cap on Increases in Non-Homesteaded Property Assessments." A Tallahassee judge ruled in August that the original wording was misleading, and the attorney general rewrote it into more neutral language, Florida Realtors reported. Here is what it would do, per News 6 ClickOrlando:
- Bigger homestead exemption on non-school taxes: $150,000 of assessed value in 2027 and $250,000 in 2028, then adjusted for inflation starting in 2029.
- School taxes are not included. The school district portion of your bill would still apply.
- New residents wait. People who become Florida residents in 2027 or later start with the existing exemption and generally wait five years for the larger one (ClickOrlando, Oct. 2).
- Lower cap for non-homestead property: the yearly assessment increase cap drops from 10% to 5% for rentals, second homes, and commercial property.
- Limits on local spending: it includes provisions on how counties and cities use property tax revenue, focused on areas such as public safety and infrastructure.
It needs 60% of the vote. If it passes, it takes effect January 1, 2027.
What would it save in Marion County?
These are the Florida TaxWatch estimates published by News 6 ClickOrlando on October 5:
| Marion County area | Estimated 2027 savings | Estimated 2028 savings |
|---|---|---|
| Ocala (city) | $1,059 | $2,133 |
| Belleview | $899 | $1,812 |
| Dunnellon | $868 | $1,749 |
| McIntosh | $589 | $1,186 |
| Unincorporated Marion County | $406 | $819 |
Source: Florida TaxWatch via News 6 ClickOrlando. Estimates for homesteads with assessed values high enough to use the full exemption.
Three things to understand before you count on these numbers:
- They are a ceiling, not a promise. Florida TaxWatch builds them by taking the newly exempt value ($98,589 in 2027 and $198,589 in 2028, on top of today's $51,411) and multiplying it by local non-school millage. A homestead with a lower assessed value saves less.
- Assessed value is not market value. Long-time owners often have an assessed value well below what the home would sell for, thanks to the Save Our Homes cap. Your TRIM notice from the Marion County Property Appraiser shows the number that matters.
- Some districts are left out. TaxWatch notes that special districts other than water management districts are not included, so actual savings would typically be higher.
The other side of the ledger: the state's Revenue Estimating Conference put the statewide cost at $12 billion a year on a recurring basis, according to the Florida Policy Institute. Locally, the County Commission tentatively raised the countywide rate to 4.28 mills from 4.02 in September, which 352today reported works out to about $93 more a year for the average homestead. How Marion County and its cities would adjust budgets if Amendment 3 passes is not known yet.
What this means for buyers
- Budget on today's tax bill, not a hoped-for one. A seller's current taxes reflect their exemptions and their assessed value. When you buy, the assessment generally resets, so ask your lender to estimate taxes on your purchase price. The Ocala mortgage calculator lets you test the payment.
- Relocating? The calendar matters. If Amendment 3 passes, residency timing affects which exemption you get for the first five years. Talk with a Florida real estate attorney or the Property Appraiser's office about your situation before you plan a move around it. My Ocala relocation guide covers the rest of the move.
- File for homestead either way. The current exemption still saves money. Here is my Florida homestead exemption guide for how and when to apply.
What this means for sellers
- Expect buyer questions. Buyers, especially out-of-state buyers, will ask about property taxes after November 3. Have your current tax bill and TRIM notice handy, and avoid promising what a buyer's future taxes will be.
- Lower ongoing costs can help demand, but it is a vote, not a sure thing. Price to the market you have now, not to a possible 2027 change.
- For a pricing plan built on recent comps, see my Ocala home selling page or visit sellocalahome.com.
What this means for investors
- The 5% cap is the investor piece. Rentals and second homes would not get the larger exemption, but taxable value could rise no more than 5% a year instead of 10%. That makes future tax bills more predictable on paper.
- The rate is still open. A lower cap limits assessment growth, not millage. If local governments need to make up revenue, rates are one lever they control. Underwrite with a cushion.
- Homeowner savings may help resale demand for homes that end-buyers would homestead. For deal analysis basics, see my Ocala real estate investing guide, and run tax questions by a CPA.
What I'd do this week
- Pull your 2026 TRIM notice or look up your parcel with the Marion County Property Appraiser and note your assessed value, not just market value.
- If you vote by mail, request your ballot before the October 22 deadline (Supervisor of Elections).
- Buyers under contract: ask your lender how your escrow estimate treats property taxes.
- Planning a move to Florida: talk to an attorney about residency timing before you sign anything.
- Investors: rerun your hold-period numbers with taxes rising at 5% and at 10% and see if the deal works both ways.
Frequently asked questions
Will Amendment 3 eliminate property taxes in Marion County?
No. Amendment 3 raises the homestead exemption for non-school taxes to $150,000 in 2027 and $250,000 in 2028. School district property taxes still apply to every homestead, and homes assessed above the exemption still pay non-school taxes on the amount over it. Non-homestead property gets a lower assessment cap, not an exemption.
How much would Amendment 3 save an Ocala homeowner?
Florida TaxWatch estimates, as reported by News 6 ClickOrlando, put the savings for a homestead inside Ocala city limits at about $1,059 in 2027 and $2,133 in 2028. The estimates are $406 and $819 for unincorporated Marion County, $899 and $1,812 in Belleview, and $868 and $1,749 in Dunnellon. Those are top-end figures for homes assessed high enough to use the full exemption, and your own numbers depend on your assessed value and taxing districts.
Does Amendment 3 apply if I move to Ocala in 2027?
Not right away. According to News 6 ClickOrlando, people who become Florida residents in 2027 or later would start with the existing homestead exemption and generally wait five years before qualifying for the larger one. If your move date is flexible, ask the Marion County Property Appraiser and a Florida real estate attorney how the rules would apply to you.
Does Amendment 3 affect rental property or second homes in Florida?
Yes, but differently. Non-homestead property, including rentals, second homes, and commercial property, would see its annual assessment increase capped at 5% instead of the current 10%. That limits how fast taxable value can rise, but it does not lower the tax rate, which local governments still set each year.
When is the Amendment 3 vote and what does it need to pass?
The vote is on Tuesday, November 3, 2026, and the amendment needs at least 60% of the vote to pass. In Marion County, the deadline to request a mail ballot is October 22 at 5 p.m., according to the Supervisor of Elections. If approved, the changes take effect January 1, 2027.
Does Amendment 3 lower school property taxes?
No. The larger exemption applies only to non-school property taxes. School district taxes would still be charged on your homestead the same way they are today.
Sources
- News 6 ClickOrlando: Here's how much Amendment 3 could save Florida homeowners (Oct 5, 2026)
- News 6 ClickOrlando: Here's what to know about Florida's newest amendment proposals (Oct 2, 2026)
- News 6 ClickOrlando: Florida's Amendment 3 could change property taxes. Here's what voters need to know (Sept 2026)
- Florida TaxWatch: Florida Property Tax Resource Center
- Florida Policy Institute: Amendment 3 ballot language summary and local fiscal impacts
- Florida Realtors: Florida's attorney general rewrites property tax amendment for November ballot (Aug 14, 2026)
- 352today: Marion County raises property tax rate after one-year COVID-fund cut (Sept 14, 2026)
- Marion County Supervisor of Elections: Election Dates
This article is general information about a ballot measure, not legal, tax, insurance, or lending advice, and it is not a recommendation on how to vote. Savings figures are third-party estimates, not guarantees. Talk with a CPA, a Florida real estate attorney, the Marion County Property Appraiser, or a licensed lender about your situation.
Cristian Gonzalez, REALTOR, eXp Realty
FL License #3633800 · Ocala, Marion County, Florida · Published October 6, 2026