Florida Amendment 3, which would increase homestead exemptions for non-school property taxes, is on the November ballot but may not lower bills for all Brevard County residents. The proposal would raise the exemption from $50,000 to $150,000 starting January 1, 2027, then to $250,000 in 2029. Bobby Freeman, a real estate agent with the McCoy-Freeman Group in Cocoa Beach, said the change could save some homeowners thousands annually but warned that the math isn’t always straightforward.
The exemption applies to taxes levied by counties, cities, and special districts—excluding school district levies. For example, a homeowner in Melbourne with a $400,000 home assessed at $350,000 might see a reduction in county and city taxes but not in school taxes, which are separate. Freeman emphasized that total savings depend on a property’s assessed value and local taxing authority rates.
Amendment 3 requires 60% voter approval to pass. If approved, the exemption would phase in over two years. Supporters argue it would help retirees and middle-income families, but critics note that rising property values and inflation could offset some benefits.
Freeman urged homeowners to consult their local tax offices or real estate agents to calculate potential savings. ‘Just because the exemption grows doesn’t mean your total bill shrinks,’ he said. ‘It’s about how much of your home’s value is taxed under non-school categories.’