Florida’s Amendment 3 Passed. Here’s What It Means for Polk County Homeowners
Voters approved a much bigger homestead exemption on Nov. 3. Here’s how the new $150,000 and $250,000 exemptions work, who qualifies, and why Dec. 31, 2026 matters if you’re buying.
In this article
Florida voters approved Amendment 3 on November 3, with about 62% of the vote according to early, unofficial results. Constitutional amendments need 60% to pass. For most Polk County homeowners, it is the biggest change to property taxes in years.
The short version: if your home has a homestead exemption, much more of its value will be shielded from city and county property taxes, starting with the 2027 tax year. School taxes don't change.
What the amendment changes
Until now, a Florida homestead got up to roughly $51,000 knocked off its taxable value. That's the familiar $25,000 exemption that applies to every tax, plus a second exemption of about $25,000 that only applies to non-school taxes.
Under Amendment 3, the exemption for non-school taxes (county, city and most special districts) grows to:
- $150,000 for the 2027 tax year
- $250,000 for 2028
- An inflation-adjusted amount after that
The school tax exemption stays at $25,000, so that part of your bill works the same way it always has.
A quick example
Here's what happens to the taxable value of a homesteaded Polk home assessed at $300,000. These are rounded, and your actual savings depend on your local tax rates.
| Tax year | Taxable value for city & county taxes | Taxable value for school taxes |
|---|---|---|
| 2026 (old rules) | about $248,600 | $275,000 |
| 2027 | $150,000 | $275,000 |
| 2028 | $50,000 | $275,000 |
To estimate your own savings, multiply the drop in taxable value by your non-school millage rate. You'll find that rate on your TRIM notice or your last tax bill. Keep in mind that cities and the county set their rates every year, and some may adjust them in response.
Who gets the bigger exemption, and when
This is the part to read twice if you're buying.
Reporting from several Florida sources says homeowners who were permanent Florida residents by December 31, 2026 get the expanded exemption once they qualify for homestead. People who become Florida residents after that date start with the current exemption and phase up to the full amount, generally reaching it around their fifth year of receiving homestead. The final details are still being worked out, and local governments may get some say in how fast the phase-in happens.
If you're relocating to Polk from another state, talk with a tax professional now about what establishing residency before the end of 2026 would involve for you.
What it doesn't do
Amendment 3 doesn't eliminate property taxes. School taxes, special assessments, and non-ad valorem charges like solid waste or fire fees can still show up on your bill. The amendment also asks the Legislature to create a process that lets local governments raise the exemption further, but there's no timeline for that yet.
What it means for buyers and sellers
For buyers, a homesteaded home just got cheaper to own year after year, which makes the monthly payment math friendlier, especially in the $250,000 to $450,000 range where most Polk buyers shop.
For sellers, lower carrying costs for owner-occupants can help demand. For investors, the 5% cap on assessment increases makes long-term holds more predictable.
Bottom line
If you live in your Polk County home, your city and county tax bill should get noticeably smaller starting in 2027, and smaller again in 2028. If you're moving here, the date you become a Florida resident now matters. Check your exact situation with the Property Appraiser before you make plans.
This is general information, not tax or legal advice. Results reported here are unofficial until certified.
