Brevard County Finalizes 2026–27 Budget and Property Tax Rates Ahead of Amendment 3 Vote
Bobby Freeman breaks down Brevard County’s new property tax rates, the county’s financial picture and what Florida Amendment 3 could mean for Space Coast homeowners.
McCoy Freeman Group at Compass Florida
Florida’s Space Coast Real Estate Market Analyst
Brevard County has completed its final public hearing on the 2026–27 county budget and property tax rates, giving homeowners a clearer financial baseline as Florida voters prepare to decide Amendment 3 on November 3.
The county budget numbers matter on their own, but they also provide important context for the property tax discussion across Florida’s Space Coast.
One distinction matters: Brevard County’s current budget pressures and 2026–27 property tax decisions were not caused by Amendment 3. Voters have not yet approved the amendment. Instead, the newly adopted budget gives homeowners a snapshot of Brevard County’s financial position before any potential future effects of Amendment 3.
Brevard County adopted a roughly $2.426 billion FY 2026–27 budget, with a recomputed aggregate millage rate reported at approximately 4.7491 mills. Meanwhile, Florida Amendment 3 proposes major changes to the Homestead Exemption and non-homestead assessment cap beginning in 2027 if approved by voters.
What Happened With Brevard County Property Tax Rates?
During the September 22 final budget hearing, Brevard County commissioners considered the final millage levies and adopted the county’s FY 2026–27 operating and capital budget.
The adopted budget is approximately $2.426 billion, while the recomputed aggregate millage rate was reported at approximately 4.7491 mills. The prior aggregate rate was approximately 4.4909 mills.
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4.7491
Aggregate Millage
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$2.426B
Adopted Budget
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44
Positions Eliminated
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The aggregate rate is approximately 5.75% above the prior aggregate rate. That does not mean every Brevard County homeowner’s property tax bill will rise by the same percentage. Individual tax bills depend on taxable value, exemptions, Save Our Homes limitations, municipality, taxing districts, school taxes and non-ad valorem assessments.
“This is why I’ve been following the Brevard County budget process along with Amendment 3. The county’s current budget decisions aren’t a result of Amendment 3, but they give homeowners a better understanding of where Brevard stands financially before voters make this decision.”
— Bobby Freeman, McCoy Freeman Group at Compass Florida
Brevard County Is Already Facing Significant Budget Needs
The budget discussion highlighted existing needs involving public safety, aging county facilities and infrastructure.
County officials discussed more than 690 outstanding maintenance work orders at the Brevard County Jail and an estimated $3.5 million in annual critical building-system investment. Brevard is also moving forward with a planned $10 million Animal Care Center, with a portion of that project supported by state funding.
At the same time, the county budget included cost reductions, including the elimination of 44 positions. These are existing county financial and infrastructure issues — not consequences of Amendment 3.
What Would Florida Amendment 3 Actually Change?
Florida Amendment 3, titled “Increased Homestead Exemption; Lower Cap on Increases in Non-Homestead Property Assessments,” will appear on the November 3, 2026 General Election ballot.
If approved, the amendment would increase the Homestead Exemption applicable to non-school property taxes to $150,000 in 2027 and $250,000 in 2028, with inflation adjustments thereafter.
It would also reduce the annual cap on assessment increases for qualifying non-homestead properties from 10% to 5%. The amendment would take effect January 1, 2027 if approved.
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2027
$150,000
Non-school Homestead Exemption
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2028
$250,000
Non-school Homestead Exemption
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What Could Amendment 3 Mean for a Brevard County Homeowner?
A qualifying homesteaded homeowner could see a substantial reduction in the taxable value used to calculate county, municipal and certain other non-school property taxes.
However, the expanded exemption would not apply to school property taxes. It also would not reduce non-ad valorem assessments. For that reason, homeowners should not assume that a larger Homestead Exemption would eliminate their entire property tax bill.
Amendment 3 would change the taxable value used for certain non-school property taxes. School property taxes and non-ad valorem assessments would remain separate parts of a homeowner’s overall tax bill.
What About Second Homes, Condos and Investment Properties?
This part of Amendment 3 is especially relevant across Cocoa Beach, Cape Canaveral and other Space Coast communities where second homes, vacation properties and investment condominiums make up an important part of the housing market.
These properties generally would not receive the expanded Homestead Exemption available to qualifying primary residences. Amendment 3 would, however, reduce the annual assessment-growth cap for qualifying non-homestead property from 10% to 5%.
A Property Tax Reduction and the Overall Impact Are Two Different Questions
A homeowner who qualifies for the expanded Homestead Exemption could receive a direct reduction in certain property taxes. That is one part of the proposal.
The other question is how Brevard County and individual municipalities would respond if their property tax collections decline. Future governments could make different decisions involving spending, millage rates, fees, assessments or service levels.
Those outcomes are not predetermined. That is why I believe homeowners should look at both their potential individual tax savings and the future local budget decisions that could follow.
“If you’re trying to determine what Amendment 3 could mean for your household, don’t look only at the size of the exemption. Watch what happens with taxable value, millage rates, fees and assessments over the next several years. Those pieces together determine the real-world impact.”
— Bobby Freeman
Florida Amendment 3: What Space Coast Homeowners Should Know
Election: November 3, 2026
Approval required: 60% of Florida voters
2027 proposed non-school Homestead Exemption: $150,000
2028 proposed non-school Homestead Exemption: $250,000
Non-homestead assessment cap: 10% reduced to 5%
School property taxes: Not included in the expanded exemption
What I’m Watching Next in Brevard County
01. Whether Amendment 3 receives the required voter approval on November 3.
02. How Brevard County and local municipalities approach future budgets if the amendment passes.
03. Future millage rates, municipal fees and non-ad valorem assessments.
04. Additional implementation guidance for homesteaded homeowners, new Florida residents and owners of non-homestead property.
Brevard now has a clearer financial baseline before the Amendment 3 vote.
Qualifying homeowners could receive reductions in non-school property taxes if Amendment 3 passes. At the same time, counties and municipalities could collect less ad valorem revenue from qualifying properties.
Exactly how those two sides interact will depend on the election result, implementation of the amendment and future local budget decisions. I’ll continue following the Brevard County numbers and updating Space Coast homeowners as new information becomes available.
Bobby Freeman — Florida’s Space Coast Real Estate Market Analyst
Bobby Freeman is a REALTOR® and Space Coast real estate advisor with McCoy Freeman Group at Compass Florida. A lifelong Brevard County resident with more than 22 years of real estate experience, Freeman has closed more than 1,500 homes and condos representing more than $520 million in career sales.
Bobby specializes in waterfront homes, oceanfront condominiums and coastal real estate throughout Cocoa Beach, Cape Canaveral, Merritt Island, Satellite Beach, Melbourne, Viera and surrounding Brevard County communities.
In addition to real estate market analysis, Bobby follows Florida property tax policy, Brevard County housing trends, condominium issues and other developments affecting homeowners across Florida’s Space Coast.