Florida Voters Pass Amendment 3: What the New Homestead Exemption Means for Bonita Springs Owners

Yes. Florida voters approved Amendment 3, the homestead property tax measure, in the November 3, 2026 general election. NBC 6 South Florida reported that the measure had about 62 percent support, above the 60 percent a constitutional amendment needs to pass. Bay News 9, Spectrum News 13 and WINK News all reported the same outcome on November 4. The two other proposed amendments on the statewide ballot fell short of 60 percent, according to Spectrum News 13.

I am Kris Asquith, Broker Associate at Premiere Plus Realty, and I covered this measure in September, when it was still on the ballot, in my earlier article on Amendment 3 and who was funding it. The vote is the material change. This piece reports what the result now means for homeowners and buyers in Bonita Springs and across my other markets, without taking a side on whether it was the right call. I am a Realtor, and Florida Realtors funded the campaign for it, which is worth knowing as you read.

As described by WKMG News 6 and WGCU, the amendment raises the homestead exemption on the part of the property tax bill that does not fund public education. That portion of the exemption rises to the first $150,000 of assessed value in 2027 and to the first $250,000 in 2028, and WKMG reports it is indexed to inflation from 2029 on. The education portion of the bill is not changed, so homestead owners keep paying that part as before.

An exemption lowers the taxable value of the home, not the tax rate, so how much any one bill changes depends on the home's assessed value and the local millage rates that apply to it. Bay News 9 quoted Craig Kincheloe of the Kincheloe Group, a real estate company, saying eligible owners could see real savings starting in 2027, while also cautioning that "This may be a tax shift instead of a tax cut," and adding, "We'll have to wait and see." Both halves of that are fair, and nobody can yet say precisely what a given Bonita Springs bill will look like in 2027 or 2028.

This is the part that matters most in a market like Bonita Springs, where many owners keep a second home or a rental here. The larger exemption is a homestead benefit only. A second home, a seasonal residence that is not your Florida homestead, a rental or an investment property does not receive it.

Non-homestead property is affected differently. WKMG and WINK report that the cap on how much a non-homestead property's assessed value can rise each year drops from 10 percent to 5 percent. That limits how quickly the assessment on a second home or rental can climb. It is not an exemption, and it does not lower the current assessment.

Timing now matters. According to NBC 6 and WKMG, owners who are permanent Florida residents with a homestead as of December 31, 2026 qualify for the higher exemption when it starts. Someone who establishes a Florida homestead after that date starts with the current, smaller exemption, and becomes eligible for the larger one in the fifth year of receiving the homestead exemption. NBC 6 reports that waiting period applies "subject to what is permitted under the U.S. Constitution," and as I noted in September, Florida's courts have struck down a similar waiting rule before, so how this provision holds up is something to watch rather than assume.

If you are buying in Bonita Springs and planning to make it your permanent home, the date you establish residency and file for homestead is now worth a direct conversation with your tax professional before you set a closing date. My Bonita Springs homestead exemption guide for buyers covers how filing works and what the property appraiser looks for.

Counties and cities warned that the amendment would reduce the property tax revenue they rely on, and the amendment does not replace that revenue. In September, WGCU reported that Lee County's chief financial officer, Pete Winton, told commissioners the projected shortfalls were "pretty ugly," and commissioners described the cuts it could force in the county budget. Bay News 9 reported on November 4 that local governments do not expect a significant drop in property tax revenue until fall 2027, with a much larger reduction expected in 2028, when the exemption reaches $250,000.

The amendment also limits what local property tax revenue can be spent on. WGCU and WKMG both report the list: public safety, public education, infrastructure such as roads, bridges and stormwater, natural resources including flood control, approved debt, obligations and retirement benefits for local employees, and the operations of county officers and commissions. Supporters have described the measure as overdue relief for homeowners. Critics, including local officials and public safety groups, have said it will force service cuts or other ways of raising money. Both arguments were made openly before the vote, and the result does not settle which turns out to be right.

WKMG reports the amendment takes effect on January 1, 2027. The first property tax bills reflecting the larger exemption are the 2027 bills, which in Florida arrive in the fall of that year. The full step to $250,000 follows in 2028. Between now and then, watch for three things: how Lee and Collier counties and the cities within them build their 2027 budgets, whether local millage rates change in response, and how the state handles the five-year waiting rule for new residents if it is challenged.

The single fact that decides whether Amendment 3 reaches you is whether a property is, or will be, your homestead. A few practical checks:

• Current owners: confirm your homestead exemption is in place on the Lee County Property Appraiser's records. If you moved here this year and have not filed, ask about the filing deadline.
• Buyers: look at the seller's tax bill knowing it reflects the seller's exemptions, not yours. A non-homestead purchase will be taxed differently from the bill you see in the listing.
• Second-home and rental owners: the lower cap on annual assessment increases is the change that applies to you, not the larger exemption.

The same applies whether you are looking in Bonita Springs, Estero or Naples. My home buying process includes checking tax history and homestead status before you are under contract, and if you are selling, my selling process covers how taxes show up for buyers. Get in touch and we can look at the numbers that apply to a specific address.

This article summarizes reporting by NBC 6, Bay News 9, Spectrum News 13, WKMG News 6, WINK News and WGCU. It is not tax or legal advice. Check your own situation with your CPA or tax advisor, an attorney, and the county property appraiser.

Kris Asquith, Broker Associate at Premiere Plus Realty, (239) 300-1427.