Florida Amendment 3: What It Means for Windermere Homeowners and Buyers

By Andy Neal, Realtor with The Agency FL | Updated October 2026

Quick answer: what is Florida Amendment 3? Amendment 3 is a property tax measure on Florida's November 3, 2026 ballot. If at least 60% of voters approve it, the homestead exemption on non-school property taxes would rise from about $50,000 today to $150,000 in 2027 and $250,000 in 2028, then grow with inflation. School taxes are not affected. New Florida residents would get a smaller $50,000 exemption for their first five years. Second homes, rentals and other non-homestead property would not get the exemption, but their yearly assessment cap would drop from 10% to 5%.

I'm getting this question from Windermere clients almost every week, so here is a plain-English breakdown of what the amendment does and what it could mean if you own, buy or sell a home here. This is not a recommendation on how to vote. That's your call.

What Amendment 3 Changes

• A bigger homestead exemption on non-school taxes. $150,000 of assessed value starting January 1, 2027, and $250,000 starting January 1, 2028. From 2029 it adjusts each year for inflation.
• No change to school taxes. The existing $25,000 exemption still applies to school levies, so every homesteaded owner still gets a tax bill.
• A five-year waiting period for newcomers. People who don't have a Florida permanent residence by December 31, 2026 would get $50,000 off non-school levies (and $25,000 off school levies) for their first five years, then move to the full exemption. The ballot language says this applies "to the extent permitted by the U.S. Constitution," and legal analysts have noted the Florida Supreme Court struck down a similar waiting period in 1982, so expect this piece to be tested.
• A lower cap for non-homestead property. Second homes, rentals and commercial property would see their yearly assessment increase capped at 5% instead of 10%.
• New limits on local budgets. Counties and cities would face tighter rules on raising millage rates and on what property tax money can be spent on.

The amendment needs 60% of the vote to pass. If it passes, it takes effect January 1, 2027, and the first tax bills affected would be the ones mailed in late 2027.

What It Could Mean for Windermere Homeowners

Most homes in Windermere are assessed well above $250,000, so the savings would come from the first $150,000 (2027) or $250,000 (2028) of value being exempt from non-school taxes. Florida TaxWatch estimates the average savings statewide at roughly $1,035 in 2027 and $2,085 in 2028. For nearby cities, its estimates include about $936 in 2027 and $1,886 in 2028 for a Winter Garden homeowner, and $1,113 and $2,242 for Orlando.

Your own number depends on two things:

1. Whether you live inside the Town of Windermere or just have a Windermere mailing address. Many homes with a Windermere address are in unincorporated Orange County, which has a different set of non-school tax rates than the Town. The Town of Windermere's own rate has been 3.7425 mills since 2018.
2. Your assessed value (not your market value). Thanks to the Save Our Homes cap, long-time owners often have an assessed value far below what their home would sell for.

A simple way to estimate it: take the extra exemption (about $100,000 more in 2027, about $200,000 more in 2028) and multiply it by your total non-school millage rate, which is listed on your tax bill. Every 10 mills works out to about $1,000 per $100,000 of exemption.

The Town has already run the numbers on its side. The Town says about 41% of its homes (around 900) would fall under the new exemption, and that it would lose about $350,000 in revenue in year one and more than $650,000 in year two. Orange County estimates it would lose about $165 million in 2027 and $275 million in 2028. Both have said services and budgets would need to adjust, and there is no state money in the amendment to replace those dollars.

What It Could Mean If You're Buying in Windermere

This is the part I'd pay the closest attention to, because a lot of Windermere buyers are relocating from out of state.

• The date you become a Florida resident could matter. As written, the full exemption is for owners who have a Florida permanent residence by December 31, 2026. If you move later, you'd get the smaller $50,000 exemption for five years. If you're planning a move, talk to the Orange County Property Appraiser's office and a tax professional about your timing before you close.
• Don't budget off the seller's tax bill. This is true today and would be even more true under Amendment 3. A long-time owner's bill reflects their capped value and their exemption, not yours. I always run a fresh tax estimate for buyers.
• Second-home and investment buyers wouldn't get the exemption, but the 5% cap would make yearly increases more predictable.

What It Could Mean If You're Selling in Windermere

Supporters argue lower carrying costs could make Florida homes more attractive to buyers. Critics point out that Florida homeowners who already have homestead would gain the most, which could make some owners even less likely to move. Nobody knows yet how the Windermere market will respond, and I'd be skeptical of anyone who claims to. What I can tell you is that buyers are asking about it, so if you're listing this fall, be ready to explain your tax situation clearly.

Florida's portability rule, which lets you carry your Save Our Homes savings to your next Florida home, is not changed by the amendment text.

The Case For and Against

Supporters say it delivers real relief to homesteaded Floridians as home values and insurance costs have climbed, and that it pushes local governments to spend more carefully.

Opponents, including many local governments, say it would cut billions from the money that funds fire, sheriff, roads, parks and stormwater, with no state backfill, and could shift more of the tax burden onto renters, businesses and second-home owners.

Frequently Asked Questions

When is the vote on Amendment 3?

Election Day is Tuesday, November 3, 2026. Early voting is already underway in Orange County.

How many votes does Amendment 3 need to pass?

At least 60% of voters must vote yes.

Would Amendment 3 eliminate my property taxes?

No. You would still pay school taxes, and most Windermere homes are assessed above the exemption amount, so you'd still pay some non-school tax too. The amendment does direct the Legislature to plan for eliminating non-school homestead taxes in the future.

Does Amendment 3 help second-home owners or landlords?

They don't get the exemption. Their yearly assessment cap would drop from 10% to 5%.

Does Amendment 3 change Save Our Homes or portability?

The amendment text doesn't change the 3% Save Our Homes cap or portability.

I'm moving to Windermere in 2027. Does this affect me?

As written, yes. Owners without a Florida permanent residence by December 31, 2026 would get a $50,000 exemption for their first five years before moving to the full amount. That part may face a legal challenge, so check with the Property Appraiser and a tax advisor.

Have a Question About Your Property Taxes?

If you're buying or selling in Windermere, Winter Garden or Southwest Orlando and want to know how this could affect your numbers, call or text me at (407) 619-3517. I'll give you a straight answer and point you to the right expert when it's a tax or legal question.

This article is for general information and is not tax or legal advice. Figures come from Florida TaxWatch, Orange County and the Town of Windermere and may change. Check your own situation with the Orange County Property Appraiser or a tax professional.

Sources: Florida TaxWatch, The Florida Taxpayer's Guide for the 2026 Constitutional Amendments; Orange County Government, Property Tax Amendment 3; WKMG News 6, "Here's how much Amendment 3 could save Florida homeowners" (Oct. 5, 2026); Orange Observer, "Windermere 'will be OK' amid potential property tax reform" (Aug. 2026).

Work With Andy Neal, Windermere Realtor

I'm Andy Neal, a Windermere realtor with The Agency Windermere. Whether you're relocating to Windermere, moving up within West Orange County, or getting ready to sell, I'll help you understand the full cost of ownership, including how Amendment 3 could change your property taxes, before you make a move.

Call or text me at (407) 619-3517 or visit centralfloridalistings.co to search Windermere homes and schedule a no-pressure consultation.