For many Riverview and Tampa Bay homeowners, the question after Election Day is simple: What could this mean for my household budget?
Florida's Amendment 3 passed in reported results from the November 3, 2026 election, with 61.98% voting Yes—above the 60% required. Its official title is “Increased Homestead Exemption; Lower Cap On Increases In Non-Homestead Property Assessments.”
Here is a plain-language look at the changes and where to find help with your own homestead application.
What changed
For eligible homesteads, the exemption applying to non-school property taxes rises to $150,000 in 2027 and $250,000 in 2028. School-tax exemptions remain unchanged.
The amendment also lowers the annual cap on assessment increases for non-homestead properties, such as rental properties and businesses, from 10% to 5%, according to WUSF's election coverage. That assessment cap is different from a homestead exemption; it is not a promise that a property's tax bill can rise by no more than 5%.
These are meaningful changes, but the effect will not be identical for every property or every household.
What it means for your tax bill
An exemption reduces the property value subject to applicable taxes. It is not a dollar-for-dollar reduction in your tax bill. A $150,000 exemption does not mean $150,000 in tax savings.
Your actual savings will depend on your property's assessment, the exemptions you qualify for and applicable tax rates. Because the new homestead amounts apply to non-school taxes, they do not eliminate the school-tax portion of a bill.
When planning a purchase or reviewing your household budget, avoid assuming that a neighbor's savings—or a seller's current tax bill—will match your own. Ask the Property Appraiser to explain how the rules apply to your property before relying on an estimated amount.
How to file your Hillsborough homestead
Keep these steps together as you prepare:
- Confirm ownership and residency. You must own the property and establish it as your permanent residence by January 1 of the year for which you apply. Confirm all eligibility requirements with the county.
- Review the application requirements. The Hillsborough County Property Appraiser lists the documentation needed to establish ownership and permanent residency.
- Apply with the Property Appraiser. Hillsborough's regular filing deadline is March 1. Do not wait until the last day to check what is needed.
- Already have homestead? Check with the Property Appraiser about whether any action is needed as the amendment is implemented.
Ready to file? Hillsborough homestead e-file.
Thinking about a move?
With increased affordability expected, we're here to help you make your next move.
Every move starts with your own priorities, timeline and budget. Whether you are considering selling, buying or simply exploring what comes next, we are happy to help you understand your home's value and your local options—without pressure.
Start with Home Valuation, or call Yellowfin Realty Group, LLC at 813-229-8862 for a personal conversation.
Our focus is serving you, that's what we do.
This post is general information, not tax or legal advice. Please confirm details with the Hillsborough County Property Appraiser.
Sources
- Florida Election Watch — Amendment results: official title, reported vote share and passage threshold. Certification was not established from this page.
- WUSF — Florida voters approve Amendment 3: exemption amounts, school-tax treatment and non-homestead cap change.
- Hillsborough County Property Appraiser — Homestead & Other Exemptions: application requirements and current homestead guidance. This page still describes existing exemption amounts; consult the office for implementation updates.
- Hillsborough County Property Appraiser — Important Dates: January 1 eligibility date and March 1 filing deadline.
Created with SI assistance