Florida’s Amendment 3 Approved
Florida’s Amendment 3 Approved
Florida voters approved expanded homestead exemptions starting in 2027. For those considering a move to the Sunshine State, the timing of establishing permanent Florida residency could make a difference.
A homestead exemption helps reduce property taxes by lowering the taxable assessed value of a home used as a primary residence. With Amendment 3, Florida is expanding this benefit, allowing eligible homeowners to exempt a larger portion of their home’s assessed value from non-school property taxes.
Here’s what’s changing:
- 2027: Homestead exemption increases to $150,000 for non-school property taxes only.
- 2028: Homestead exemption increases to $250,000 for non-school property taxes only.
- Beginning in 2029: The expanded exemption will be adjusted for inflation.
Why December 31, 2026 Matters
The amendment also includes an important distinction for people considering relocating to Florida.
Individuals who establish permanent Florida residency by December 31, 2026, may qualify for the expanded exemption sooner when they meet the applicable homestead requirements. Those who establish permanent residency after that date generally must wait until their fifth year of homestead eligibility to receive the expanded benefit.
Thinking About Making Florida Home?
With new property tax benefits on the horizon, the timing of your move may be an important consideration.
Holiday Builders offers move-in ready homes across Florida. Explore available homes, discover our communities, and find the right place to call home.
*General information only; not tax advice. Eligibility requires ownership and permanent residency, a timely application for the exemption, and approval by the county property appraiser. Closing on a home does not by itself establish residency. Holiday Builders can’t guarantee closing by December 31, 2026. Consult your tax advisor.
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