An estimate of how Amendment 3's larger homestead exemption could change Hillsborough County government's ad valorem property tax revenue, based on 2026 property values and 2025 tax rates.
Illustrative estimates only. These figures are meant to illustrate how Amendment 3 could affect Hillsborough County government based on current data. They are not official. For official information about the county's budget, tax rates and revenue, contact Hillsborough County government directly. For official property values and exemptions, contact the Hillsborough County Property Appraiser.
This page covers the three operating property taxes Hillsborough County government levies in the 2025 millage table, grouped by where they apply: the countywide levy (5.4608 mills, paid throughout Hillsborough County, inside and outside cities); the library services levy (0.5583 mills, paid in unincorporated Hillsborough County and in the City of Tampa); and the unincorporated area MSTU (4.6163 mills, paid in unincorporated Hillsborough County). The county also levies 0.0604 mills in voter-approved debt service (environmental lands debt service). Those taxes are included in each property's tax estimate on the calculator but not in the revenue figures on this page, because they repay bonds.
Paid on taxable property throughout Hillsborough County, inside and outside cities. Estimated change by 2028: −$203.9 million (−22.6%). Homestead assessed values rise by up to 3% a year (never above each home's just value); all other property stays at its 2026 taxable value.
| Year | Homestead taxable value | Other taxable value | Total taxable value | Gross levy | Budget basis (95%) | Change from 2026 (95%) | Percent change |
|---|---|---|---|---|---|---|---|
| 2026 | $66,458,823,945 | $107,187,215,341 | $173,646,039,286 | $948,246,291 | $900,833,977 | — | — |
| 2027 (estimate) | $42,922,285,460 | $107,187,215,341 | $150,109,500,801 | $819,717,962 | $778,732,064 | −$122,101,913 | −13.6% |
| 2028 (estimate) | $27,157,425,936 | $107,187,215,341 | $134,344,641,277 | $733,629,217 | $696,947,756 | −$203,886,221 | −22.6% |
| Year | Homestead taxable value | Other taxable value | Total taxable value | Gross levy | Budget basis (95%) | Change from 2026 (95%) | Percent change |
|---|---|---|---|---|---|---|---|
| 2026 | $66,458,823,945 | $107,187,215,341 | $173,646,039,286 | $948,246,291 | $900,833,977 | — | — |
| 2027 (estimate) | $41,422,761,481 | $107,187,215,341 | $148,609,976,822 | $811,529,361 | $770,952,893 | −$129,881,083 | −14.4% |
| 2028 (estimate) | $24,983,804,872 | $107,187,215,341 | $132,171,020,213 | $721,759,507 | $685,671,532 | −$215,162,445 | −23.9% |
Paid on 502,046 parcels in unincorporated Hillsborough County and in the City of Tampa. Estimated change by 2028: −$20.0 million (−22.7%). Homestead assessed values rise by up to 3% a year (never above each home's just value); all other property stays at its 2026 taxable value.
| Year | Homestead taxable value | Other taxable value | Total taxable value | Gross levy | Budget basis (95%) | Change from 2026 (95%) | Percent change |
|---|---|---|---|---|---|---|---|
| 2026 | $64,458,204,370 | $101,186,733,454 | $165,644,937,824 | $92,479,569 | $87,855,590 | — | — |
| 2027 (estimate) | $41,969,469,776 | $101,186,733,454 | $143,156,203,230 | $79,924,108 | $75,927,903 | −$11,927,687 | −13.6% |
| 2028 (estimate) | $26,812,251,777 | $101,186,733,454 | $127,998,985,231 | $71,461,833 | $67,888,742 | −$19,966,849 | −22.7% |
| Year | Homestead taxable value | Other taxable value | Total taxable value | Gross levy | Budget basis (95%) | Change from 2026 (95%) | Percent change |
|---|---|---|---|---|---|---|---|
| 2026 | $64,458,204,370 | $101,186,733,454 | $165,644,937,824 | $92,479,569 | $87,855,590 | — | — |
| 2027 (estimate) | $40,508,037,778 | $101,186,733,454 | $141,694,771,232 | $79,108,191 | $75,152,781 | −$12,702,809 | −14.5% |
| 2028 (estimate) | $24,675,142,878 | $101,186,733,454 | $125,861,876,332 | $70,268,686 | $66,755,251 | −$21,100,339 | −24.0% |
Paid on 364,765 parcels in unincorporated Hillsborough County. Estimated change by 2028: −$126.5 million (−28.2%). Homestead assessed values rise by up to 3% a year (never above each home's just value); all other property stays at its 2026 taxable value.
| Year | Homestead taxable value | Other taxable value | Total taxable value | Gross levy | Budget basis (95%) | Change from 2026 (95%) | Percent change |
|---|---|---|---|---|---|---|---|
| 2026 | $42,977,625,351 | $59,145,546,998 | $102,123,172,349 | $471,431,201 | $447,859,640 | — | — |
| 2027 (estimate) | $25,608,577,071 | $59,145,546,998 | $84,754,124,069 | $391,250,463 | $371,687,940 | −$76,171,701 | −17.0% |
| 2028 (estimate) | $14,132,937,850 | $59,145,546,998 | $73,278,484,848 | $338,275,470 | $321,361,696 | −$126,497,944 | −28.2% |
| Year | Homestead taxable value | Other taxable value | Total taxable value | Gross levy | Budget basis (95%) | Change from 2026 (95%) | Percent change |
|---|---|---|---|---|---|---|---|
| 2026 | $42,977,625,351 | $59,145,546,998 | $102,123,172,349 | $471,431,201 | $447,859,640 | — | — |
| 2027 (estimate) | $24,630,446,589 | $59,145,546,998 | $83,775,993,587 | $386,735,119 | $367,398,363 | −$80,461,277 | −18.0% |
| 2028 (estimate) | $12,828,330,818 | $59,145,546,998 | $71,973,877,816 | $332,253,012 | $315,640,362 | −$132,219,279 | −29.5% |
As with the cities and towns, the size of the change depends mostly on how much of the taxable value comes from homesteads. Property without a homestead exemption, such as rentals, businesses, second homes and vacant land, keeps its taxable value under the amendment.
Countywide, homesteads make up 38.3% of the taxable value for the countywide levies in 2026. Within the library services area, they make up 38.9%, so the estimated percentage change for that levy is larger. Among the three cities that levy a property tax, the homestead share ranges from 23.8% to 33.8%.
The table below shows where the change in the countywide taxable value comes from. Unincorporated Hillsborough County has 58.8% of the county's taxable value and accounts for an estimated 73.4% of the change. The City of Tampa has 36.6% of the county's taxable value and accounts for an estimated 22.4% of the change.
| Area | County taxable value, 2026 | Share of county taxable value | Homestead share of area's taxable value | Change in area's taxable value by 2028 | Share of countywide change |
|---|---|---|---|---|---|
| Unincorporated Hillsborough County | $102,123,172,349 | 58.8% | 42.1% | −28.2% | 73.4% |
| City of Tampa | $63,521,765,475 | 36.6% | 33.8% | −13.9% | 22.4% |
| City of Plant City | $5,108,635,001 | 2.9% | 23.8% | −20.5% | 2.7% |
| City of Temple Terrace | $2,892,466,461 | 1.7% | 27.1% | −21.0% | 1.5% |
Estimates use homestead assessed values rising by up to 3% a year, capped at just value. Areas are based on each parcel's tax district.
Florida counties also receive money from other sources. Depending on the county, these can include state revenue sharing, the local government half-cent sales tax, local option sales and fuel taxes, communications services taxes, non-ad valorem assessments, franchise fees, charges for services, and state and federal grants. The mix differs from county to county. Hillsborough County's adopted budget shows its full set of revenue sources and how much each provides.
The Tampa Port Authority, the Hillsborough Area Regional Transit Authority, the Children's Board of Hillsborough County, the water management district and the School Board levy their own property taxes. They are separate taxing authorities and are not included on this page.
Property values and exemptions: The Hillsborough County Property Appraiser's 2026 final tax roll, as published by the Florida Department of Revenue. Tax rates: the 2025 millage rates the Florida Department of Revenue posts for Hillsborough County (2026 rates by tax district were not readily available). Parcel tax districts: the tax district codes on the same tax roll.
For each homestead, the estimated taxable value is its assessed value minus the new homestead exemption ($150,000 in 2027, $250,000 in 2028) and any other exemptions, but not less than zero. The gross levy is total taxable value times the millage rate, for the parcels where each levy applies. The budget basis is 95% of the gross levy.
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