November 3, 2026: Florida Amendment 3 is on the ballot. Rentals do not get the new homestead exemption.County impact →

Brevard County · Table 5 · 2028 model

Palm Bay rental holding costs and Amendment 3

People searching “is it worth buying a rental in Palm Bay” need tax, millage, and insurance — not a slogan. Below are the cited figures. We do not declare this market a buy.

· · Figures retrieved 2026-10-18

Amendment 3 modeled 2028 tax (Table 5)

TypeAdditional taxPercent
Apartment unit$49927.3%
Single-family rental$1,41231.19%

Walczak Table 5 · county-level Table 4 is on the Brevard Amendment 3 page.

Millage used for a purchase-year tax sketch

Our extract of the Brevard millage sheet does not include a published Palm Bay citywide total, so we do not invent one. The calculator default below is the county example (12.3894 mills — First published millage-code total on the 2025 Brevard millage sheet (TOTALS row, first column)). Replace it with the TRIM millage for the parcel.Brevard County Tax Collector, 2025 Millage (dollars per thousand dollar valuation).

OIR homeowners-with-wind average for Brevard as of 2025-09-30: $3,560. That is a labeled placeholder, not a Palm Bay DP-3 quote.Insurance page.

Is it worth buying a rental in Palm Bay?

This site does not rate Palm Bay as a buy or a pass. Worth depends on rent, millage, insurance, flood, and HOA on the specific parcel. Walczak Table 5 models $1,412 (31.19%) additional 2028 tax on the average Palm Bay single-family rental if millage is raised to replace homestead revenue — an assumption, not a forecast.

Does a Palm Bay rental get the Amendment 3 homestead exemption?

No. Homestead is for a permanent resident’s primary home. Source: Pinellas County Property Appraiser Amendment 3 FAQs.

Calculator starting from Brevard

If Palm Bay millage is in our files, type 12.3894 into the millage field. Label: First published millage-code total on the 2025 Brevard millage sheet (TOTALS row, first column) (city total not in our extract; using county example).