Market Brief
Sarasota County homesteaders are projected to save about $700 a year by 2028 under Amendment 3, while the county faces an estimated $241 million shortfall over the first two years and the City of Sarasota a $5.6 million general fund hit.
What Amendment 3 means in Sarasota, Manatee and DeSoto: projected homeowner savings, local budget gaps and what buyers should check before closing.
Sarasota County homestead owners are projected to save about $700 a year by 2028 under Amendment 3, and Manatee County owners about $1,200, according to Suncoast Searchlight, republished by WGCU on November 5, 2026. The same report put Sarasota County's shortfall at $241 million over the first two years, and the combined loss for Sarasota, Manatee and DeSoto counties at $1.6 billion over five years. The City of Sarasota projects a $5.6 million hit to its general fund, according to WWSB. Sarasota County voters backed the amendment with about 63% of the vote, Manatee with 65%.
This piece covers what the amendment changes for owners and buyers in the Sarasota market, the local budget figures reported so far, and what to check before buying. Monthly price, pace and sales figures are on the Sarasota market data hub.
What does Amendment 3 change for Sarasota homeowners?
Amendment 3 raises the homestead exemption from non-school property taxes from $50,000 to $150,000 next year and to $250,000 in 2028, cuts in half the annual cap on assessment increases for non-homestead property, and restricts how cities and counties can spend property tax revenue, Suncoast Searchlight reported. It takes effect January 1, 2027, as our November 4 brief covered.
| Item | Detail |
|---|---|
| Homestead exemption, non-school taxes | $50,000 now; $150,000 in 2027; $250,000 in 2028 |
| Non-homestead assessment cap | Annual cap cut in half |
| School taxes | Not covered by the larger exemption |
| Statewide vote | About 62%, above the 60% required |
| Sarasota County vote | About 63% yes |
| Manatee County vote | About 65% yes |
| DeSoto County vote | About 64% yes |
Source: Suncoast Searchlight via WGCU, November 5, 2026.
Our Amendment 3 guide walks through the 2027 and 2028 steps, and the Amendment 3 calculator estimates the change on a specific bill.
How much will Sarasota-area owners save?
| County | Projected yearly savings for a homestead owner by 2028 |
|---|---|
| Sarasota | About $700 |
| Manatee | About $1,200 |
| DeSoto | About $1,400 |
Source: Suncoast Searchlight via WGCU, November 5, 2026.
These are typical-owner estimates. An owner's actual savings depend on the home's assessed value and the non-school millage of the county, city and special districts on the bill. Owners of second homes and rental property do not get the homestead exemption, but the smaller assessment cap slows how fast their assessed values can rise.
How big are the local budget gaps?
| Government | Reported impact |
|---|---|
| Sarasota County | $241 million shortfall over the first two years, per an independent statewide research institute |
| City of Sarasota | $5.6 million general fund loss; other impacts not yet calculated |
| Manatee County Sheriff's Office | More than $50 million by the 2028 budget cycle |
| Sarasota, Manatee and DeSoto combined | $1.6 billion over five years |
| Florida, first year | $4.95 billion non-school property tax shortfall, per state economists |
Sources: Suncoast Searchlight via WGCU, November 5, 2026; WWSB, November 4, 2026.
Sarasota County Commissioner Tom Knight said he plans to budget as if in a recession, expects to leave positions unfilled and may lay off staff, Suncoast Searchlight reported. Officials across the three counties said hiring freezes, delayed projects, reduced service levels and limits on new bonding are possible. North Port and Venice had not published dollar figures in the reports reviewed. The first local budgets the change hits are the 2027-28 budgets adopted in September 2027.
How are Sarasota and Manatee house prices moving?
Our October Market Pulse puts both counties near $500,000:
| County | October 2026 single-family closings | Median sale price | Change from a year earlier | Change from 2022 peak | Median days on market |
|---|---|---|---|---|---|
| Sarasota | 591 | $490,000 | +9.3% | -3.7% | 35 |
| Manatee | 553 | $499,900 | +4.3% | -9.1% | 44 |
| Charlotte | 346 | $339,995 | -1.0% | -11.7% | 46.5 |
Source: Momentum Market Pulse, Stellar MLS edition, October 2026, computed by Momentum from Stellar MLS records (single-family). Deemed reliable but not guaranteed.
Sarasota's median rose faster than Manatee's over the year, while both remain below their 2022 peaks. Our Sarasota and Manatee ZIP code piece has prices and pace by ZIP, and the Sarasota, Bradenton, Lakewood Ranch, Venice and North Port market pages have current listings.
What should Sarasota buyers check before closing?
A purchase resets the assessed value to market value, so a buyer's first-year bill can be far above the seller's, as our property tax reset analysis shows. Amendment 3 narrows that gap for buyers who homestead, starting in 2027. Buyers should file for homestead by the county property appraiser's deadline after closing, estimate the bill on the new assessed value rather than the seller's, and watch the August 2027 TRIM notices, which will show whether local millage rates change in response to the shortfall. Investors and second-home buyers should budget without the exemption. Our property tax estimator and true cost of ownership tool help with both.
People also ask
How much will Amendment 3 save Sarasota homeowners? About $700 a year by 2028 for a typical Sarasota County homestead owner, and about $1,200 in Manatee County, according to Suncoast Searchlight's November 5, 2026 report.
How much revenue will Sarasota County lose from Amendment 3? An estimated $241 million over the first two years, according to an independent statewide research institute cited by Suncoast Searchlight. The City of Sarasota projects a $5.6 million general fund loss.
When does Amendment 3 take effect? January 1, 2027. The homestead exemption from non-school taxes rises to $150,000 in 2027 and $250,000 in 2028.
Does Amendment 3 lower school property taxes? No. The larger exemption applies to non-school property taxes. School taxes are not covered by the increase.
Limitations
Savings and shortfall figures are estimates reported by Suncoast Searchlight and WWSB from local officials and research groups; final figures depend on 2027 and 2028 assessments and millage decisions. Vote shares are unofficial results as reported. County price figures are October 2026 single-family closings computed from MLS records by Momentum and are deemed reliable but not guaranteed.
Sources
- Derek Gilliam, Disastrous Amendment 3 passes, leaving Suncoast leaders facing tough choices, Suncoast Searchlight via WGCU, November 5, 2026.
- Ellie Davis, Sarasota leaders weigh budget decisions after Florida voters approve Amendment 3, WWSB, November 4, 2026.
- Momentum Market Pulse, Stellar MLS edition, October 2026, Momentum Research report built from Stellar MLS records, generated November 13, 2026.
- Sarasota market data hub, Momentum Research.
Disclosure: Jon Brooks is a co-founder of Momentum Realty, a Florida real estate brokerage that owns and funds Florida Housing Intelligence. Momentum has a financial interest in Florida real estate transactions, including in markets named here. See our editorial standards.
Market statistics in this article are computed from MLS data licensed by Momentum Realty, and are current as of the date shown. Data may be preliminary and subject to revision by its source. This article is general information, not advice about any specific property, transaction, or financial decision, and is not a representation about any specific property, community, builder, or association.
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