11/05/2026
π‘ FLORIDA AMENDMENT 3 PASSED!
What could this mean for your monthly mortgage payment? π΄
Property taxes are part of your homeownership budgetβand if you escrow, theyβre part of your monthly mortgage payment!
For qualifying homesteaded homeowners, the exemption for non-school property taxes increases to:
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Up to $150,000 of assessed value in 2027
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Up to $250,000 in 2028
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Inflation adjustments beginning in 2029
π° HOW COULD THIS AFFECT YOUR PAYMENT?
A lower property tax bill could reduce the tax portion of your escrow payment after your mortgage servicer reviews and updates your account. This amendment doesnβt change your mortgage interest rate or principal-and-interest payment, and payment reductions wonβt happen automatically on January 1.
π BUYING A HOME?
Your residency and homestead eligibility matter! People who arenβt Florida residents by December 31, 2026, generally receive the increased exemption beginning with their fifth year of homestead exemption.
ποΈ OWN AN INVESTMENT PROPERTY OR SECOND HOME?
The annual assessment increase cap drops from 10% to 5%. That limits assessment growthβit doesnβt guarantee a lower tax bill.
π School taxes arenβt included in the increased exemption. Actual savings depend on eligibility, assessed value and local tax rates. Insurance costs and escrow shortages can also affect your total payment.
Whether youβre buying your first home or reviewing your current budget, letβs talk about what these changes could mean for YOU! π‘β¨
Brittney Wood | Sr. Loan Advisor
American Pacific Mortgage | NMLS #1742360
π² 813-708-2323
π§ [email protected]
