Florida Amendment 3: What the Proposed Property Tax Changes Could Mean for Nassau County Homeowners

Florida voters will decide on a significant property-tax proposal during the November 3, 2026 general election.

Amendment 3 would substantially increase Florida's homestead exemption for non-school property taxes, reduce the annual assessment-growth cap on many non-homestead properties, and restrict how counties and municipalities may use property-tax revenue.

For Nassau County homeowners, the proposal raises two important questions:

How much could property owners save?

And:

What could happen to county services if significantly less property-tax revenue is collected?

Understanding both sides of that equation is important before November.

Why you may have seen different descriptions of Amendment 3

Amendment 3 originally appeared under the ballot title “Save Our Homes from Excessive Property Taxes.”

That language has changed.

In August, a Leon County circuit judge ruled that portions of the original ballot title and summary were misleading. Florida Attorney General James Uthmeier subsequently submitted revised ballot language.

The revised title is:

“Increased Homestead Exemption; Lower Cap on Increases in Non-Homestead Property Assessments.”

The new language more directly describes the major components of the proposal.

Amendment 3 remains scheduled for Florida's November 3, 2026 general election. Like other amendments to the Florida Constitution, it requires approval from at least 60% of voters.

If approved, the changes would begin January 1, 2027.

What would Florida Amendment 3 actually change?

There are several components, but three are particularly important for Nassau County property owners.

1. The homestead exemption for non-school taxes would increase significantly

Florida currently provides qualifying homestead owners with a $25,000 exemption that applies to all property taxes, including school taxes.

An additional $25,000 exemption currently applies to non-school property taxes within the applicable assessed-value range.

Amendment 3 would substantially increase the exemption applicable to non-school property taxes:

• $150,000 in 2027
• $250,000 in 2028
• Adjusted for inflation beginning in 2029

This does not reduce the market value of someone's home by $250,000.

Instead, exemptions reduce the taxable value used to calculate applicable property taxes.

For homeowners with sufficient assessed value to take advantage of the expanded exemption, that could result in meaningful savings.

What happens to school property taxes?

This is an important distinction.

The expanded homestead exemption would not apply to school district property taxes.

The existing $25,000 homestead exemption applicable to school taxes would remain.

As a result, a homesteaded property could effectively have two different taxable values:

one for school taxes and another, lower taxable value for qualifying non-school taxes.

So a $250,000 homestead exemption does not mean $250,000 simply disappears from the taxable value used to calculate the homeowner's entire property-tax bill.

School taxes continue to be calculated separately.

Amendment 3 also affects non-homestead property

The proposal extends beyond someone's primary residence.

Amendment 3 would reduce the annual cap on assessment increases for many non-homestead properties from 10% to 5% beginning in 2027.

That could affect properties such as:

• rental and investment properties,
• second homes,
• vacation properties,
• commercial real estate, and
• other qualifying non-homestead property.

Again, the change applies to non-school assessments.

That makes Amendment 3 relevant not only to homeowners but also to investors, businesses and owners of second properties throughout Nassau County.

What could this mean for a Nassau County homeowner?

To understand the potential impact, it's helpful to understand how property taxes work.

At its simplest:

Assessed Value − Applicable Exemptions = Taxable Value

The taxable value is then multiplied by the applicable millage rate.

One mill equals $1 in property tax for every $1,000 of taxable value.

Nassau County's tentative FY 2026-27 budget proposes another reduction in its millage rate. The combined County/MSTU rate is proposed to decline from approximately 8.9544 mills to 8.6657 mills, a reduction of approximately 3.22%.

If ultimately adopted, it would represent the sixth consecutive year Nassau County has reduced its millage rate.

Amendment 3 would change another important part of the property-tax equation: taxable value.

By significantly increasing the exemption for qualifying non-school taxes, a larger portion of a homesteaded property's assessed value could be removed before those taxes are calculated.

The exact savings would vary from property to property.

A homeowner's assessed value, Save Our Homes history, exemptions, location, taxing authorities and future millage rates all matter.

That's why two homes with similar market values can have very different property-tax bills.

Why a lower millage rate doesn't necessarily mean lower taxes

This distinction becomes particularly important in a growing county.

Nassau County has reduced its millage rate repeatedly in recent years.

At the same time, property values, new construction and the County's overall taxable property base have grown.

That means a local government can lower its millage rate while still collecting more total property-tax revenue if the taxable base grows enough.

Similarly, an individual homeowner could see a millage-rate reduction but still experience a change in the tax bill because assessed value and exemptions are also part of the calculation.

Looking at the millage rate alone therefore doesn't tell the complete story.

If homeowners pay less, what happens to Nassau County revenue?

This is the other side of Amendment 3.

A reduction in an individual homeowner's property taxes also represents revenue that is no longer collected by the taxing authority.

Nassau County has begun estimating what that could mean locally.

According to the County's current analysis, the proposed property-tax changes could reduce County property-tax revenue by approximately $45.4 million annually by FY 2028-29.

Nassau County currently reports that approximately $144.6 million, or 73%, of its FY 2025-26 taxing-fund revenue comes from property taxes.

The County estimates that after accounting for certain obligations, approximately $14 million could remain to support services currently requiring roughly $45 million annually.

That produces an estimated $31 million funding gap if current service levels were maintained.

These are projections—not predetermined future outcomes.

Future budgets, property values, revenues, millage decisions and implementation of Amendment 3 could change those numbers.

But the projections illustrate why the potential local impact is receiving considerable attention.

Are schools, law enforcement, fire and EMS protected?

There are two different issues here that are easy to combine.

Schools

School district property taxes are specifically excluded from the expanded homestead exemption.

The new $150,000 and eventually $250,000 exemption would apply to qualifying non-school taxes.

Public safety

The amendment identifies permitted uses of county and municipal property-tax revenue that include public safety services such as:

• law enforcement,
• fire services, and
• emergency medical services.

However, there is an important distinction.

Identifying public safety as an allowable use of property-tax revenue does not necessarily guarantee its existing funding level.

If Nassau County ultimately collects significantly less property-tax revenue, future county commissions would still face decisions about allocating the revenue available to them within constitutional and statutory requirements.

In other words:

The amendment addresses where certain property-tax dollars can be spent. It does not guarantee that every service receives the same number of dollars it receives today.

What other Nassau County services could be affected?

Nassau County has identified several areas that could face additional financial pressure if property-tax revenue falls substantially.

Those include services such as:

• parks,
• libraries,
• animal services,
• storm-water management,
• road maintenance, and
• other county operations.

This discussion is already occurring as part of Nassau County's FY 2026-27 budget process, even before voters decide Amendment 3.

A significant additional reduction in property-tax revenue could require future county commissions to reconsider service levels, spending priorities or how particular services are funded.

Could Nassau County simply raise the millage rate?

Future county commissions will continue making millage decisions within Florida's constitutional and statutory limitations.

But increasing property-tax rates isn't the only potential response to reduced revenue.

Governments can also examine alternative ways of funding particular services through mechanisms such as assessments, user fees or other legally available revenue sources.

That creates an important distinction:

Reducing property-tax revenue doesn't necessarily reduce the cost of providing government services.

It can result in lower spending.

But it could also mean fewer services, different service levels or shifting some costs from property taxes to other funding mechanisms.

That is one of the larger questions Nassau County residents will need to watch if Amendment 3 passes.

What about people moving to Florida?

There's another provision particularly relevant to a growing area like Nassau County.

People who are not Florida residents on December 31, 2026 would not necessarily receive the entire expanded exemption immediately after establishing a Florida homestead.

Under the proposal, newer residents would generally become eligible for the increased exemption beginning with their fifth year of exemption, subject to the amendment's provisions and applicable constitutional requirements.

For relocation buyers, that could make understanding a property's current tax bill even more important.

The taxes paid by the current owner don't necessarily predict what the next owner will pay.

Acker Insight: Tax reform also creates a spending conversation

At first glance, the easy answer to a reduction in property-tax revenue is simply “reduce the size of government.”

In practice, that's more difficult.

Government positions and recurring expenses can be harder to eliminate than services, which creates the possibility that residents receive fewer services without addressing the underlying cost structure.

A better conversation may be about establishing measurable guardrails around future government growth.

As Nassau County grows, government will need to grow in some areas too. But additional positions and compensation should remain connected to measurable factors such as population growth, service demand, recurring revenue and long-term financial sustainability.

Tax reform shouldn't only create a conversation about what residents pay.

It should also create one about how efficiently those dollars are used.

What should Nassau County residents watch next?

Amendment 3 is scheduled for Florida's November 3, 2026 general election and requires at least 60% voter approval.

Between now and Election Day, Nassau County property owners should continue watching:

• the revised ballot language and any further legal developments,
• Nassau County's final FY 2026-27 budget and millage rates,
• updated local fiscal-impact projections,
• implementation details surrounding the expanded exemptions,
• discussions about alternative assessments or fees, and
• future decisions involving county service levels.

There are legitimate reasons homeowners may be attracted to significant property-tax relief.

There are also legitimate questions about how local governments would operate with substantially less property-tax revenue.

Both things can be true at the same time.

The purpose of understanding Amendment 3 isn't to tell Nassau County residents how to vote.

It's to make sure we understand what we're voting on and what could happen afterward.

Sources

Florida Division of Elections — Amendment 3 constitutional amendment and ballot information

Florida Legislature — Amendment 3 / property-tax reform legislation and constitutional language

Nassau County Board of County Commissioners — Proposed Property Tax Changes

Nassau County Office of Management & Budget — FY 2026-27 Tentative Budget and millage materials

Ballotpedia — Florida Amendment 3, Homestead Tax Exemptions, Property Assessments, and Spending Restrictions Amendment (2026)