By Glen Bigness, Realtor, Premiere Plus Realty. Updated November 15, 2026.

On November 3, 2026, Florida voters approved Amendment 3, the biggest change to Florida property taxes in decades. If you are buying or selling a home in Naples, Marco Island or anywhere in Southwest Florida, it affects your numbers. Here is what changed, who it helps, and the one date every buyer should know: December 31, 2026.

Aerial view of a Naples Florida residential neighborhood

What Amendment 3 does

  • A much bigger homestead exemption. For non-school property taxes, the homestead exemption rises to $150,000 in 2027 and $250,000 in 2028, then adjusts for inflation starting in 2029. The school-tax exemption stays at $25,000.
  • A lower cap for second homes and rentals. Starting January 1, 2027, the yearly limit on assessment increases for non-homestead property (second homes, rentals, commercial) drops from 10% to 5%.
  • Save Our Homes and portability stay the same. Homesteads still have the 3% (or CPI, if lower) annual assessment cap, and you can still move up to $500,000 of that savings to a new Florida homestead.
  • New tax bills in November 2027. The changes first show up on tax bills mailed in November 2027.

Results were unofficial as of this writing and become final when the state certifies them.

The date that matters: December 31, 2026

The full increased exemption is for homeowners who are permanent Florida residents as of December 31, 2026. People who become Florida residents after that date start with the current exemption (about $50,000 on non-school taxes) and become eligible for the larger exemption after holding a Florida homestead exemption for four years.

What this means if you are moving to Naples: if you are already planning to make Southwest Florida your permanent home, establishing residency sooner rather than later may matter. How residency is established, and whether a December 2026 purchase or move qualifies, is a question for the Collier County Property Appraiser (or the Lee County Property Appraiser) and your tax advisor. Call them before you count on it.

What it means for buyers

  • Your tax bill resets after you buy. The seller's exemptions and Save Our Homes cap end at the sale. On January 1 after closing, the Property Appraiser sets your assessed value at market value. Estimate taxes from the purchase price, not the seller's bill.
  • File for homestead by March 1. If the home will be your permanent residence, file with the Property Appraiser by March 1 of the year after you close.
  • Second-home buyers get a smaller cap. A winter home won't get the homestead exemption, but from 2027 its assessed value can rise at most 5% a year instead of 10%. That makes future taxes more predictable.
  • Moving within Florida? Portability still works. If you sell a Florida homestead and buy another, you can carry over up to $500,000 of your Save Our Homes savings. File the portability application with your new homestead exemption.

What it means for sellers

  • Lower carrying costs for homestead owners. Many long-time owners will see lower non-school taxes starting with the 2027 bill, which may change whether you sell now or later.
  • A selling point for second homes. If you are selling a winter home or rental, the new 5% cap is worth mentioning to buyers, especially investors.
  • Selling and buying in Florida? Port your Save Our Homes benefit to your next homestead. You have up to three tax years after leaving your old homestead to use it.
  • Price on today's market, not tax hopes. Lower taxes may help affordability over time, but local governments may adjust millage rates. Buyers will still compare your home against current sales. See how to price your Naples home.

Frequently asked questions

Does Amendment 3 eliminate property taxes in Florida?

No. It raises the homestead exemption for non-school taxes. School taxes, which are a large share of most bills, still apply, and second homes and rentals are not eligible for the homestead exemption.

Do I lose my Save Our Homes cap?

No. Amendment 3 does not change Save Our Homes or portability.

I am buying a winter home in Naples. Does this help me?

Yes, through the lower cap. Starting in 2027, the assessed value of non-homestead property can rise at most 5% a year instead of 10%.

Who can tell me exactly what my taxes will be?

The county Property Appraiser sets assessed values and exemptions, and the Tax Collector bills them. For a specific property, call the Property Appraiser's office or a tax professional.

Plan your move with real numbers

I'll help you estimate the true monthly cost of a home, including taxes, insurance, HOA fees and flood coverage, before you write an offer. Call or text Glen Bigness at 239-272-4663 or email glenbigness@gmail.com.

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This article is general information, not tax or legal advice. Sources: WFTV/Associated Press, Florida TaxWatch, Florida Realtors. Confirm details with your county Property Appraiser.