Florida Amendment 3: What Amelia Island and Fernandina Beach Homeowners Should Know
Property taxes are an important part of the cost of owning real estate in Florida. This is especially true in areas such as Amelia Island, Fernandina Beach and Nassau County, where residents include longtime homeowners, recent arrivals, second-home owners, investors and retirees managing fixed or carefully planned incomes.
Amendment 3 will therefore attract considerable attention before Florida's November 3, 2026, general election. My purpose here is not to tell anyone how to vote. It is to explain the proposal in plain language, identify the questions that matter to property owners and encourage voters to review the official ballot information before reaching their own conclusions.
What would Florida Amendment 3 change, and how could it affect homeowners, second-home owners and local communities?
Florida Amendment 3 would expand the homestead exemption for non-school property taxes, reduce the annual assessment-increase cap on many non-homestead properties from 10% to 5%, and make several related changes to local property-tax policy. Supporters emphasize tax relief and housing affordability. Those raising concerns point to lower revenue for counties, municipalities and special districts that fund local services. School-district property taxes would not be affected by the expanded exemption. Florida voters will decide the amendment on November 3, 2026, and it requires at least 60% voter approval.
What Would Florida Amendment 3 Do?
According to the proposal summarized by Florida Realtors, Amendment 3 contains several components:
Increase the homestead exemption for non-school property taxes to $150,000 in 2027 and $250,000 in 2028.
Adjust the expanded exemption annually for inflation beginning in 2029.
Reduce the annual cap on assessment increases for non-homestead property from 10% to 5%. This category can include second homes, rental properties and commercial real estate.
Direct counties and municipalities to use property-tax revenue for designated purposes, including public safety, infrastructure, natural resources, debt payments, employee retirement benefits, and government operations and administration.
Require the Florida Legislature to establish a uniform process through which counties and municipalities could increase the homestead exemption further, potentially up to a home's full assessed value.
Allow special districts to provide additional property-tax relief with voter approval.
If approved, the measure would take effect January 1, 2027.
What Is the Homestead Exemption?
Florida's homestead exemption reduces the taxable value of a qualifying permanent residence. It does not reduce the property's market value or necessarily reduce every portion of the tax bill in the same way.
This distinction matters: market value, assessed value and taxable value are related, but they are not interchangeable.
Market value is an estimate of what a property may sell for in the open market.
Assessed value is the value used by the property appraiser after applying applicable assessment limitations.
Taxable value is the assessed value remaining after exemptions are applied.
Amendment 3 would expand the homestead exemption for non-school property taxes. It would not apply the larger exemption to school-district property taxes.
Would Amendment 3 Eliminate Property Taxes on Some Homes?
It could eliminate the non-school taxable value for some qualifying homesteaded properties, depending on their assessed value and the exemptions that apply. It would not eliminate school-district property taxes, and it would not necessarily eliminate every charge appearing on a property owner's annual bill.
The actual effect would vary from property to property. A homeowner should not estimate savings by simply subtracting the proposed exemption from the home's current market value. Assessed value, taxable value, millage rates, exemptions and taxing authorities all matter.
How Could Amendment 3 Affect Second Homes and Rental Properties?
The proposed homestead-exemption increase is for qualifying primary residences, so it would not extend that exemption to a vacation home, second home or rental property that does not qualify for homestead.
However, Amendment 3 also proposes reducing the annual assessment-increase cap on non-homestead property from 10% to 5%. That provision could be relevant to owners of second homes, long-term and short-term rentals, and commercial property.
The cap limits how quickly a property's assessed value can increase from one year to the next; it does not guarantee that a tax bill will remain unchanged. Millage rates, ownership changes, property improvements and other factors can still affect taxes.
What About People Who Become Florida Residents After 2026?
The proposal includes a timing provision for people who are not Florida residents on December 31, 2026. Florida Realtors reports that these owners would receive the existing homestead exemption when they qualify, but would generally become eligible for the expanded exemption beginning with their fifth year of exemption, subject to federal constitutional requirements.
This is a particularly important detail for buyers considering a future relocation to Amelia Island, Fernandina Beach or elsewhere in Florida. Anyone making a purchase or residency decision should review the final rules and obtain advice specific to their circumstances rather than assuming a future tax amount.
Why Do Supporters Favor Amendment 3?
Supporters view the proposal as a way to reduce the ongoing cost of homeownership at a time when many Florida households are also managing higher insurance premiums, maintenance expenses and general living costs.
They argue that:
A larger homestead exemption could provide meaningful tax relief to qualifying homeowners.
Lower recurring ownership costs could help longtime residents and people on fixed incomes remain in their homes.
A 5% assessment cap could offer greater predictability to owners of non-homestead properties.
Local governments should be encouraged to control spending as property values and tax collections change.
Florida Realtors' Board of Directors has endorsed Amendment 3 and launched a campaign supporting its passage. That organizational position is one perspective voters may wish to consider.
What Concerns Have Been Raised About Amendment 3?
The principal concern is the potential reduction in property-tax revenue received by counties, municipalities and special districts.
Those examining the possible tradeoffs ask whether lower revenue could:
Place pressure on budgets for public safety, roads, parks, stormwater management, environmental programs and other local services.
Lead local governments to adjust millage rates, fees, spending priorities or service levels.
Shift more of the tax burden among different types of property owners.
Affect communities differently based on their tax base, population growth and service demands.
Although the expanded exemption would not apply to school-district property taxes, that protection does not answer every question about county, municipal or special-district budgets. Voters may reasonably want to understand both the potential household savings and the local fiscal effect.
What Could Amendment 3 Mean in Nassau County?
The amendment is statewide, but its practical effect would be local. Nassau County residents receive services from different combinations of taxing authorities depending on where a property is located. A home within the City of Fernandina Beach, for example, has a different tax profile from a property in unincorporated Nassau County.
For local property owners, useful questions include:
Which portions of my current tax bill are school and non-school taxes?
What is my property's assessed value and taxable value—not simply its market value?
Does the property currently receive a homestead exemption?
If it is a second home or rental, how could the proposed 5% assessment cap apply?
What revenue effect does Nassau County or the City of Fernandina Beach anticipate?
How might local taxing authorities respond if the amendment passes?
The Nassau County Property Appraiser and Tax Collector are the appropriate sources for property-specific records and tax information. Local budget documents and public meetings can provide additional context about potential effects on services.
Would Amendment 3 Affect a Home's Market Value?
No one can reliably predict a specific market-value effect. Property taxes influence affordability and ownership costs, but buyers also consider mortgage rates, insurance, inventory, condition, location, amenities and broader economic conditions.
The amendment would change aspects of property taxation; it would not directly set sale prices. Buyers and sellers should avoid treating assessed value or taxable value as a substitute for a market analysis.
When Will Floridians Vote on Amendment 3?
Amendment 3 is scheduled to appear on the November 3, 2026, general-election ballot. A proposed amendment to the Florida Constitution must receive at least 60% of the votes cast on the measure to pass.
Before voting, review the official ballot title, summary and financial-impact information. Also keep in mind that advocacy materials—including information produced by organizations supporting or opposing the amendment—are written from a particular perspective.
The Bottom Line
Amendment 3 presents voters with a significant property-tax policy decision. Qualifying homeowners could receive a substantially larger exemption from non-school property taxes, while many non-homestead property owners could receive a lower cap on annual assessment increases. At the same time, counties, municipalities and special districts could collect less revenue than they otherwise would, raising questions about budgets, services and how the change would be implemented locally.
There is more to consider than a simple “lower taxes” headline. The most informed approach is to understand which provisions apply to your property, examine both the potential benefits and tradeoffs, and review the official information before voting.
This article is provided for general educational purposes and is not legal, tax or financial advice. Property-tax outcomes vary. Consult the appropriate government office and qualified legal or tax professionals regarding your circumstances.
Frequently Asked Questions About Florida Amendment 3
Does Amendment 3 apply to school property taxes?
The expanded homestead exemption would apply only to non-school property taxes. School-district property taxes would not receive the larger exemption.
Would second-home owners receive the larger homestead exemption?
Not unless the property qualifies as the owner's homestead. However, second homes and other non-homestead properties could be affected by the proposal to reduce the annual assessment-increase cap from 10% to 5%.
Would every Florida homeowner save the same amount?
No. Any change would depend on the property's assessed and taxable values, applicable exemptions, local millage rates and taxing authorities.
Is Florida Realtors neutral on Amendment 3?
No. Florida Realtors has endorsed Amendment 3 and is encouraging voters to support it. Its information can help explain the proposal, but voters should also consult official ballot materials and consider other perspectives.
How many votes does Amendment 3 need to pass?
It must receive at least 60% of the votes cast on the amendment.
About the Author
Colleen Gerke is the Broker and Owner of Close with Colleen Real Estate, a boutique real estate brokerage serving home buyers and sellers throughout Amelia Island, Fernandina Beach, Yulee and Nassau County, Florida. As an Oyster Bay Harbour resident with a brokerage office located within the community, Colleen combines firsthand local knowledge with more than 20 years of sales and marketing experience to help clients confidently buy and sell coastal, luxury, waterfront and residential properties. To explore Amelia Island–area homes for sale, request a personalized home valuation or visit www.CloseWithColleen.com.
Considering buying or selling in Amelia Island, Fernandina Beach or Nassau County? Contact Colleen for thoughtful local guidance and a real estate strategy tailored to your goals.