Amendment 3 needed 60% and cleared it with about two points to spare. Two other amendments on the same ballot failed: Amendment 1, on the state's rainy-day fund, got about 41%, and Amendment 2, a property tax exemption for farm equipment, got 58%. The property tax change is the one with real consequences for Tampa Bay owners, and most coverage this week is written for people who live in their homes.
We broke down the amendment itself before the vote in what Amendment 3 really means for vacation rental owners, including a worked example of the 5% cap. This is the follow-up: what actually passed, what hasn't been decided yet, and where the money is likely to come from.
What Passed, and What It Means for Your Rental
Homestead exemption (non-school taxes)
What changes: $150,000 in 2027, $250,000 in 2028
Your rental: Does not apply
Assessment cap, non-homestead property
What changes: 5% a year instead of 10%, from January 1, 2027
Your rental: Applies
New Florida residents
What changes: Larger exemption only from the fifth year, for moves on or after January 1, 2027
Your rental: Does not apply
Guest taxes, licensing and registration
What changes: Unchanged
Your rental: Unchanged
The short version for rental owners
No new exemption and no rate change from the amendment itself. Your assessed value can rise at most 5% a year instead of 10%, which only helps in a rising market. The bigger question is how your county and city replace the money.
It Isn't Finished Yet
Passing the amendment doesn't change a tax bill on its own. The Legislature has to pass implementing laws first. Gov. Ron DeSantis said this week he would let lawmakers pick the dates for a special session, and if he wants to oversee it, it has to happen before he leaves office in January. DeSantis has also said he wants to stop local governments from raising other taxes to offset the lost revenue, possibly through a taxpayer's bill of rights. What that law says, and whether it covers fees as well as tax rates, matters more to rental owners than anything else still undecided.
The five-year wait for new residents may not survive either. The Florida Supreme Court struck down a similar residency requirement in the 1980s, and both Hillsborough Property Appraiser Bob Henriquez and Pinellas Property Appraiser Mike Twitty have suggested a legal challenge is likely. That part doesn't touch your rental directly, but it changes how fast local governments lose revenue.
Where Tampa Bay Governments Say the Gap Will Show Up
State economists project local governments will lose nearly $5 billion in the first year, approaching $9 billion the next and nearly $12 billion a year by 2031. According to Bay News 9, local governments don't expect a significant drop until fall 2027, with the larger losses in 2028. Here's what's been said locally so far:
Hillsborough County
Says it could lose up to $367 million a year by 2028. It has warned of layoffs, a hiring freeze and cuts or reductions to services for kids, parks, pets and aging residents.
City of Tampa
Its chief financial officer projects losses of $40 million in fiscal 2028 and more than $60 million the year after. The city built two 2027 budget plans, one for each outcome of the vote.
St. Petersburg
Is considering a special fee on all property owners to help pay for fire services.
Pinellas County
Adopted a tighter budget this year in anticipation of Amendment 3, including higher parking rates at some beaches.
Small Pinellas cities
Towns such as Treasure Island and Largo rely on property taxes for most operating costs. Former state Sen. Jeff Brandes, an opponent of the amendment, said in September that several Pinellas communities, including most beach towns, could face dissolving.
None of these are final decisions yet. But look at the pattern: a fee on all property owners in St. Pete, higher beach parking in Pinellas, cuts to services in Hillsborough. A homesteaded owner gets a large exemption to offset whatever comes next. A rental owner doesn't. A per-parcel fire or stormwater fee is charged the same way whether or not the owner lives there, and no exemption reduces it.
One study commissioned by the Florida Housing Coalition, the Florida Apartment Association and Miami Homes For All estimated that if local governments raise tax rates to make up the losses, single-family rentals could see bills rise by more than $1,000 a year by 2028. That number assumes rate increases that haven't happened, and the Tampa Bay Times noted the study doesn't publish its formula, so treat it as a scenario, not a forecast.
What Doesn't Change
Amendment 3 is a property tax change only. The Florida sales tax and county tourist development tax you collect on every stay of six months or less are unchanged. So is the DBPR vacation rental license. And Hillsborough County's short-term rental registration still starts January 1, 2027, the same day the amendment takes effect. For the full guest-tax picture, see Florida vacation rental taxes in 2026.
If You Airbnb the Home You Live In
This is the group with the most to lose now. Under section 196.061 of the Florida Statutes, renting all or substantially all of a home you claim as homestead counts as abandoning it until you move back in, with a narrow exception that can't be used two years in a row. Renting a room while you live there is treated differently. Before Amendment 3, losing homestead cost you an exemption of about $50,000 on non-school taxes. From 2028 it's $250,000, plus your Save Our Homes cap. Get your county property appraiser's answer before you list the whole house, not after.
The Timeline
November 3, 2026
Voters approve Amendment 3 with about 62%.
Date not set
Special session for the implementing laws. Gov. DeSantis has said lawmakers can pick the dates; he leaves office in January.
January 1, 2027
Most provisions take effect, including the 5% non-homestead cap and the $150,000 exemption. Hillsborough's short-term rental registration also starts this day.
August 2027
TRIM notices show the first assessments and proposed rates under the new rules.
Fall 2027
Local governments expect the first significant revenue drop, as 2027 tax bills go out.
2028
The homestead exemption reaches $250,000, and the larger revenue losses arrive.
What to Do Now
1. Don't plan on a lower 2027 bill
Your rental gets no new exemption. Unless your market value rises more than 5% in a year, the new cap changes nothing on your bill.
2. Watch your city and county budget hearings
The real decisions for rental owners, like new fire, stormwater or similar per-parcel fees, will be made in local budget hearings through 2027. They are public and you can comment.
3. Read your August 2027 TRIM notice line by line
It shows your assessed value, each taxing authority's proposed rate and any non-ad valorem assessments. That's where any change shows up first, while you can still appeal or speak at the hearings.
4. Sort out homestead before you list a home you live in
Renting all or substantially all of a homestead can cost you the exemption under section 196.061 of the Florida Statutes. With the exemption heading to $250,000, get your property appraiser's answer before the first booking.
5. Build fees into your 2027 numbers
A few hundred dollars of new local charges matters less when the property is priced and booked well. Run your 2027 budget with a cushion for fees, alongside the Hillsborough registration fee if you're in the unincorporated county.
The Honest Version
Amendment 3 is a tax cut for people who live in their homes, and voters chose it clearly. For vacation rental owners, it's mostly a change in who pays for local services. The amendment hands you a modest cap and leaves you more exposed to whatever fees and rates come next. Nobody knows the final numbers yet, and anyone who tells you exactly what your 2028 bill will be is guessing.
What you can control is how much the property earns. At Emperor Rentals, pricing, occupancy and monthly owner reporting are built to keep a rental comfortably ahead of its carrying costs, taxes and fees included. If you want to know where yours stands going into 2027, start with a free revenue estimate or talk to us.
Election results are unofficial counts reported on November 3 and 4, 2026. Revenue projections are from Florida's Office of Economic and Demographic Research, Hillsborough County and the City of Tampa as reported by WUSF, Bay News 9 and the Tampa Bay Times, November 2026. Homestead rental rules refer to Fla. Stat. § 196.061. This article is general information, not tax or legal advice. Check with your county property appraiser or a tax professional about your property.
Frequently Asked Questions
Did Amendment 3 pass in Florida?
Yes. Florida voters approved Amendment 3 on November 3, 2026 with about 62% of the vote, above the 60% required. Most of it takes effect January 1, 2027, but the Legislature still has to pass implementing laws before property tax bills change.
Does Amendment 3 lower property taxes on my vacation rental?
Not directly. The larger homestead exemption, $150,000 in 2027 and $250,000 in 2028 for non-school taxes, only applies to a primary residence. Vacation homes, second homes and rentals stay fully taxable. What they get is a lower cap on how fast their assessed value can rise each year: 5% instead of 10%. That cap only saves money in years when the property's market value rises faster than 5%.
Could my rental's tax bill go up after Amendment 3?
The amendment does not raise any rate itself, but local governments are planning for large revenue losses. Hillsborough County says it could lose up to $367 million a year by 2028, and St. Petersburg is considering a special fire fee on all property owners. Per-parcel fees and assessments are not reduced by any exemption, so they fall fully on rental owners. Gov. Ron DeSantis has said he wants to stop local governments from raising other taxes to offset the losses, so what is allowed will depend on what the Legislature passes.
Does Amendment 3 change the taxes my guests pay?
No. Amendment 3 is about property taxes. The Florida sales tax and county tourist development tax collected on stays under six months are unchanged, and so are the DBPR license and Hillsborough County's short-term rental registration, which starts January 1, 2027.
Written by Mark Malevskis — owner of Emperor Rentals, Tampa Bay's White-Glove vacation rental management company. Want a rental that earns well past its tax bill? Let's talk →