Amendment 3 passed on November 3, 2026, and homebuyers in Martin County are already asking what it means for them. I work with buyers and sellers across the Treasure Coast and Palm Beaches, and this is how I explain it for Martin County.
Key Takeaways
- The homestead exemption is set to rise from $50,000 to $150,000 in 2027 and $250,000 in 2028, then adjust for inflation starting in 2029.
- Lower taxable value does not guarantee a lower bill, because local taxing authorities still set millage rates.
- School district taxes and non-ad valorem assessments are not affected by the higher exemption.
- For buyers, December 31, 2026 is the date to know.
What changes for homesteaded owners
Amendment 3 raises the homestead exemption in two steps. The assessment cap on non-homestead property, such as second homes, rentals, vacant land and businesses, drops from 10% to 5%. Save Our Homes, the cap on how fast your homestead assessed value can rise, stays in place.
The Martin County picture
Martin County Property Appraiser Jenny Fields has been clear about what Amendment 3 does and does not do. It lowers your taxable value. It does not guarantee a lower bill, because the amendment does not limit the millage rates your local taxing authorities set.
Her office estimates Martin County could collect about $44 million less in 2027 and about $73 million less in 2028. That is the number to keep in mind when you hear that savings are certain. Local governments can respond with rates, other revenue sources or service decisions, and those decisions are still ahead.
School district taxes and non-ad valorem assessments are not affected by the higher exemption.
Why the date matters if you are buying in Stuart or nearby
Martin County buyers in Stuart, Palm City, Hobe Sound, Jensen Beach, Sewall’s Point and Port Salerno should know one date: December 31, 2026. If you are moving to Florida and buy before it, you share in the savings with everyone else. If you buy after it, the rules for new residents can mean a five year wait. The test is tied to Florida permanent residency, and the implementing rules are still being written, so I am watching this closely. The full explanation is here: Florida Amendment 3 Passed: Why December 31, 2026 Matters If You Plan to Buy.
If you already own a Florida homestead, Save Our Homes portability may let you carry part of your benefit to a new home. Run the numbers before you rule out a home.
If you are selling in Martin County
A higher exemption can make homeownership more attractive to the next buyer, and it changes how buyers think about monthly cost. If you hold a long-standing homestead, here is what to consider before you sell: Will You Lose Your Save Our Homes Benefit When You Sell?.
What to do now
- Look up your address, or the address you want to buy, on the Martin County Property Appraiser website and see the current assessed value.
- Run the available savings tools, and treat the results as estimates.
- If you plan to buy, talk to me before December 31, 2026 so we can plan your timeline. My full process is here: Florida Home Buyer’s Guide.
- If you buy, file for homestead by March 1 of the year after you close.
Frequently asked questions
Will my Martin County tax bill go down?
Your taxable value goes down if you qualify for homestead. Your bill depends on the millage rates set by your county, city and other taxing authorities, which this amendment does not limit.
Do I have to apply for the new exemption?
The sources I reviewed are silent on this. Implementation rules are still to come, so I will update this page when they are published.
Does this affect school taxes?
No. School district taxes are not affected by the higher exemption.
Where can I explore Martin County areas?
Start with my area guides.
Ready to talk?
If you are thinking about buying in Martin County before the end of the year, call me and we will look at your numbers and your timeline together.
Sources
- CBS12: Will Amendment 3 lower your property tax bill? Property appraiser says it’s not guaranteed
- Martin County Property Appraiser
- Florida Amendment 3 article on this site
This is general information, not legal, tax or financial advice. Confirm exemption and tax details with your county property appraiser and your own advisors.