Florida Real Estate News & Insights

Florida Property Tax Changes in 2027: What Boca Raton Homeowners Need to Know

Florida's Amendment 3 is bringing important changes to property taxes. Discover what they could mean for homeowners, buyers, sellers and investors across South Florida.

November 10, 2026  |  Joseph Hillner, Broker Associate

Florida homeowners have a major property-tax change to understand as 2027 approaches.

On November 3, 2026, Florida voters approved Amendment 3, a constitutional amendment that expands the homestead exemption for qualifying non-school property taxes.

The amendment also changes assessment protections for non-homestead properties and introduces additional residency requirements.

Governor Ron DeSantis has announced plans for a special legislative session to address implementation before his term ends in January 2027.

If you own a home in Boca Raton, Delray Beach, Highland Beach, Boynton Beach, Deerfield Beach, Parkland or surrounding South Florida communities, here's what you should know.

AMENDMENT 3 AT A GLANCE

Florida's New Property Tax Rules

Expanded homestead exemptions apply to qualifying non-school property taxes. Eligibility requirements apply.

What Is Florida Amendment 3?

Amendment 3 is a voter-approved constitutional change to Florida's property-tax system, taking effect January 1, 2027.

Its major provisions include:

• Increasing the qualifying non-school homestead exemption to $150,000 in 2027.
• Increasing that exemption to $250,000 in 2028.
• Providing inflation adjustments beginning in 2029.
• Reducing the annual assessment-increase cap for qualifying non-homestead properties from 10% to 5%.
• Establishing additional eligibility requirements for certain new Florida residents.

How Will the Homestead Exemption Work?

Florida's homestead exemption reduces the taxable assessed value of an eligible primary residence.

Under Amendment 3, the expanded exemption will reduce the portion of assessed property value subject to certain non-school taxes.

However, a $250,000 homestead exemption does not mean a homeowner receives $250,000 in cash or saves $250,000 in taxes.

Actual savings depend on assessed value, applicable millage rates, existing exemptions and individual eligibility.

What Does This Mean for Boca Raton Homeowners?

Boca Raton offers a diverse mix of residential properties, including single-family homes, luxury waterfront residences, gated communities and condominiums.

The amendment may affect property owners differently depending on whether a home is their qualifying primary residence or a second home.

Primary-Residence Owners

Homeowners who meet the expanded homestead requirements could see reduced non-school property taxes.

Lower recurring ownership expenses may be useful for long-term budgeting, particularly for retirees and homeowners planning to remain in their properties.

Palm Beach County Property Owners

While Amendment 3 establishes statewide rules, individual tax savings will vary by location and property.

A homeowner in Boca Raton may face different tax rates than someone in Delray Beach, Boynton Beach or Highland Beach.

The Palm Beach County Property Appraiser is an important resource for checking assessed values and exemption information.

What Does Amendment 3 Mean for Homebuyers?

If you're buying a home in South Florida, property taxes should be part of your overall affordability calculation.

Don't Assume the Seller's Tax Bill Will Be Yours

A property sale may trigger reassessment, and the buyer's homestead eligibility may differ from that of the seller.

Buyers should obtain a property-specific estimate rather than relying solely on the current owner's taxes.

Residency Requirements Matter

Under the approved amendment, people who were not Florida residents on December 31, 2026, generally must wait until their fifth year of qualifying homestead exemption to receive the expanded benefit, subject to federal constitutional requirements.

This is an important consideration for families relocating to Florida, retirees and first-time buyers.

Look at Your Total Housing Budget

Property taxes are only one part of homeownership. Mortgage payments, homeowners insurance, HOA or condominium fees, flood insurance where applicable, and maintenance should also be included.

Could the New Property Tax Rules Affect Home Sellers?

Homeowners considering selling in Boca Raton or Palm Beach County may wonder whether lower property taxes will influence buyer demand.

For eligible buyers, reduced recurring tax expenses could make certain homes more financially attractive.

But the changes do not guarantee an increase in market value.

If you're thinking about selling, a personalized local market analysis can help you understand how your property compares with competing homes.

What About Investors and Second-Home Owners?

The amendment reduces the annual assessment-increase cap for qualifying non-homestead properties from 10% to 5%.

This provision may affect rental properties, vacation residences, second homes and certain commercial properties.

The cap applies to assessed-value increases under applicable rules, not necessarily to the percentage increase in the final property-tax bill.

Investors should continue evaluating insurance, rental income, vacancies, maintenance, financing and long-term operating costs.

Will These Changes Increase South Florida Home Values?

Lower ownership costs could influence purchasing decisions among buyers who qualify for the expanded exemption.

However, there is no verified evidence establishing how much, if at all, Amendment 3 will affect home prices in Boca Raton or Palm Beach County.

The local housing market will continue to respond to inventory, financing conditions, insurance expenses, migration trends and broader economic factors.

Local governments must also consider how changes in property-tax revenue may affect funding for public services.

What Happens Next?

Florida voters have approved Amendment 3, but implementation procedures remain an important next step.

Governor Ron DeSantis announced plans for a special legislative session before January 2027 to address implementation.

Homeowners should monitor guidance from official state agencies and county property appraisers.

Frequently Asked Questions

Did Florida eliminate property taxes?

No. Amendment 3 expands certain exemptions and changes assessment limits. It does not eliminate all property taxes.

When does the $250,000 exemption begin?

The qualifying non-school homestead exemption increases to $250,000 in 2028.

Does the exemption apply to condominiums?

Eligible owner-occupied condominium units may qualify. Individual homestead and residency requirements must be met.

Do new Florida residents qualify immediately?

Generally, qualifying new residents receive the existing exemption first and must wait until their fifth year of homestead exemption for the expanded benefit, subject to federal constitutional requirements.

Will my Boca Raton home increase in value?

Not necessarily. Property values depend on buyer demand, comparable sales, inventory, interest rates and other local market conditions.

Final Thoughts: Stay Informed About Your South Florida Real Estate Decisions

Florida's property-tax changes represent an important development for homeowners, buyers, sellers and investors.

The impact on an individual property depends on its assessed value, exemptions, residency status and applicable tax rules.

Whether you're planning to purchase, sell or continue enjoying your current home, understanding the numbers can help you make informed decisions.

LOCAL EXPERTISE. PERSONALIZED GUIDANCE.

Have Questions About Buying, Selling or Your Home's Value?

Get local insight into Boca Raton, Palm Beach County and the South Florida real estate market.

Joseph Hillner

Broker Associate | Guaranteed Home Sales

Boca Raton | Delray Beach | Deerfield Beach | Boynton Beach | South Florida

Sources & Helpful Resources

Florida Realtors: Special Session on Property Tax Amendment

Florida Realtors: Voters Approve Amendment 3

Palm Beach County Property Appraiser

Broward County Property Appraiser

Disclaimer: This article is for general educational purposes only and does not constitute tax, financial or legal advice. Actual property-tax obligations, exemption eligibility and savings vary. Consult the applicable county property appraiser or qualified tax professional for guidance specific to your property.

© 2026 Joseph Hillner | Broker Associate | Guaranteed Home Sales