TALLAHASSEE, Nov. 7, 2026: Florida Amendment 3 changes rental property taxes mainly through one line: from January 1, 2027, the yearly increase in a rental's assessed value for non-school property taxes is capped at 5% instead of 10%. Florida voters approved the amendment in the November 3, 2026 general election, according to the Seminole County Property Appraiser. The amendment was proposed by the Legislature as CS/HJR 1-F and takes effect January 1, 2027.
The headline homestead exemptions of $150,000 and then $250,000 apply only to a Florida owner's permanent residence, so a rental home or condo in Florida does not get them. School district taxes are not changed for rentals.
What does Florida Amendment 3 change for rental property?
For Florida rental property, Amendment 3 lowers the annual cap on assessment increases for non-school levies from 10% to 5%, beginning January 1, 2027. The enrolled resolution amends Article VII, section 4 of the Florida Constitution in two places: subsection (g), which covers residential real property of nine units or fewer that is not homestead (single-family rentals, condos, duplexes and small multifamily buildings), and subsection (h), which covers other non-homestead property such as larger apartment buildings and commercial property. The existing rules stay: no assessment may exceed just value, and after a change of ownership or control the property is reassessed at just value on the next assessment date.
What changes for homestead owners?
For a Florida homestead, the exemption from non-school levies rises to up to $150,000 of assessed value from January 1, 2027 and up to $250,000 from January 1, 2028, with inflation adjustments after that. The school-levy exemption stays at $25,000. People who had not kept a permanent residence in Florida as of December 31, 2026 start with a smaller exemption (up to $50,000 for non-school levies) and, according to the Seminole County Property Appraiser, become eligible for the larger amount from the fifth year. Save Our Homes and portability are not changed.
| Property | Change under Amendment 3 (non-school levies) | From |
|---|---|---|
| Rental home, condo or building of 9 units or fewer | Assessment cap 10% → 5% a year | January 1, 2027 |
| Other non-homestead property | Assessment cap 10% → 5% a year | January 1, 2027 |
| Homestead (Florida resident by Dec. 31, 2026) | Exemption up to $150,000, then $250,000 | 2027, then 2028 |
What it means for landlords
A Florida landlord's assessed value can rise by at most 5% a year for county, city and special district taxes once the cap applies, while school taxes continue to follow market value. Property tax bills still depend on millage rates set each year by local taxing authorities, so a lower cap does not by itself mean a lower bill. Buying a rental still resets its assessment to just value. Landlords who also live in Florida will see the larger homestead exemption only on their own home.
What to do now
- Check your 2027 TRIM notice (the notice of proposed property taxes) and compare the assessed value increase with the 5% cap.
- Budget for school taxes on market value; they are not capped by this change.
- Revisit your rent plan using your actual tax bill, and follow the notice rules for any increase (see Florida rent increase rules).
- Keep property tax records for your return; property taxes on a rental are reported as an expense on Schedule E.
See also our guide to Florida landlord repair duties and more US guides on the blog hub.
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