Market Insights · November 2026
Market Insights
Florida Amendment 3: what the bigger homestead exemption means in Boca Raton.
Florida voters approved Amendment 3 on November 3, 2026, with about 62% of the vote. It takes effect January 1, 2027 — here is the math for Boca Raton.
Start a Conversation →Florida voters approved Amendment 3 on November 3, 2026, with about 62% of the vote (60% was required). It takes effect January 1, 2027. Results are unofficial until state certification, scheduled for November 17, 2026.
What changes
The non-school homestead exemption rises from $51,411 today to $150,000 in 2027 and $250,000 in 2028 — replacing the current exemption, not adding to it. The $25,000 school exemption is unchanged, so school taxes are untouched.
What it saves in Boca Raton
Savings equal the extra exempt value times the non-school millage. At current rates:
| Area | Non-school mills | 2027 savings | 2028 savings |
|---|---|---|---|
| City of Boca Raton | 10.6220 | ~$1,047 / yr | ~$2,109 / yr |
| Unincorporated Boca Raton | 10.9653 | ~$1,081 / yr | ~$2,178 / yr |
Who gets the full amount, and when
A Florida permanent resident by December 31, 2026 gets the full new exemption once homestead-qualified. Someone becoming a Florida resident from January 1, 2027 keeps today’s exemption for four years and gets the full amount in the fifth year.
Also in the amendment
The assessment cap for non-homestead property drops from 10% to 5% a year for non-school levies.
The fine print
These savings assume the assessed value exceeds the exemption and that 2026 millage rates hold — rates are reset each summer. This is general information, not tax or legal advice.
More insights coming — monthly Boca Raton market updates. To get them, tell me about your move and I’ll add you to the list.
Let’s Talk
Have a question about the Boca Raton market?
Call or text Travis at (954) 649-8592.
Call Travis →← Back to Home