Florida Homestead Exemption After Amendment 3: What Homebuyers Need to Know
If you’re planning to buy a home in Florida, your future property tax bill just got friendlier. On November 3, 2026, Florida voters approved Amendment 3 with about 62 percent of the vote, clearing the 60 percent it needed to pass.
Here’s what Amendment 3 changes for buyers, who qualifies, and when you’ll actually see the savings.
The Quick Answer
- The homestead exemption on non-school property taxes rises to $150,000 in 2027 and $250,000 in 2028, then adjusts for inflation.
- It applies only to your primary residence, not second homes or rentals.
- To get the full benefit, you need to be a permanent Florida resident by December 31, 2026. You don’t need to own a home yet.
The first tax bills reflecting the change arrive in November 2027.
What is the Florida Homestead Exemption?
The Florida homestead exemption reduces the taxable value of the home you own and live in as your permanent residence. A lower taxable value means a lower property tax bill.
Today, the exemption is worth about $50,000. The first $25,000 applies to all property taxes, including school taxes. The second portion applies only to non-school taxes, like those that fund your county, city, and special districts.
One thing to keep in mind: an exemption lowers your home’s taxable value, not your tax bill dollar for dollar. Your actual savings depend on your home’s assessed value and your local tax rates.
What Amendment 3 Changes
Amendment 3 takes effect January 1, 2027, and phases in a much larger exemption on non-school property taxes for qualifying homeowners.
| Tax year | Homestead exemption on non-school taxes |
|---|---|
| 2026 (today) | About $50,000 |
| 2027 | Up to $150,000 |
| 2028 | Up to $250,000 |
| 2029 and beyond | $250,000, adjusted for inflation |
Homestead exemption on non-school taxes
About $50,000
Homestead exemption on non-school taxes
Up to $150,000
Homestead exemption on non-school taxes
Up to $250,000
Homestead exemption on non-school taxes
$250,000, adjusted for inflation
The amendment also lowers the annual cap on assessment increases for non-homestead property, like second homes, rentals, and commercial property, from 10 percent to 5 percent a year.
What stays the same:
- School taxes. The larger exemption doesn’t apply to school property taxes. The existing $25,000 school-tax exemption stays as it is.
- Save Our Homes. The cap that limits how much a homesteaded home’s assessed value can rise each year (3 percent or inflation, whichever is lower) is unchanged.
- Portability. You can still transfer your accumulated Save Our Homes benefit to a new Florida homestead.
Florida Homestead Exemption Requirements After Amendment 3
The most important date for buyers is December 31, 2026. Whether you were a permanent Florida resident by then decides how quickly you get the larger exemption.
If you’re a Florida resident by December 31, 2026: You’re eligible for the larger exemption once you own your home, live in it, and file. This is true even if you’re renting today and buy later.
If you become a Florida resident after December 31, 2026: You can still get a homestead exemption, but you start with the current amount (about $50,000, with inflation adjustments beginning in 2028). You move up to the larger exemption in your fifth year of receiving the exemption.
Here’s how that plays out for someone who moves to Florida in June 2027:
- They buy a home and live in it on January 1, 2028.
- They file by March 1, 2028, so 2028 is their first exemption year.
- They receive the starting exemption from 2028 through 2031.
- In 2032, their fifth exemption year, they become eligible for the larger exemption.
The rule counts years of receiving the exemption, not time since moving. Starting in 2030, counties and cities may vote to shorten the five-year wait for a critical local need, so the timeline could vary by area.
Residency is a legal determination. If you’re relocating, confirm your eligibility and timing with your county property appraiser.
How to File for the Florida Homestead Exemption
The homestead exemption isn’t automatic. You apply once with your county property appraiser, and it generally renews each year as long as you keep living in the home.
- Own and live in the home on January 1. Florida bases eligibility on your status as of January 1 of the tax year.
- Gather proof of residency. Counties typically ask for items like a Florida driver’s license, Florida vehicle registration, or voter registration. Requirements vary by county, so check your property appraiser’s website.
- Apply by March 1. Most county property appraisers accept applications online.
Timing matters. If you close on a home in, say, April 2027, you won’t be able to claim the exemption until the 2028 tax year, since you didn’t own the home on January 1, 2027.
When Buyers Will See the Savings
Florida property tax bills arrive at the end of the year they cover, so the first bills reflecting Amendment 3 arrive in November 2027.
- November 2026: No change. This bill covers the 2026 tax year.
- August 2027: TRIM notices (the proposed property tax estimate your county mails each summer) will show the new exemption.
- November 2027: The first property tax bills with the larger exemption.
How this could affect your mortgage payment
Most homebuyers pay property taxes through an escrow account, which is part of the monthly mortgage payment. Lower property taxes can mean a lower monthly payment over time.
A Quick Example
Say your home’s assessed value is $300,000 and your non-school tax rate is 12 mills ($12 per $1,000 of value). In 2028, up to $250,000 would be exempt instead of about $50,000. About $2,400 a year, or roughly $200 a month, in potential savings. This example is for illustration only. Your savings will depend on your home’s value and local tax rates.
A heads-up for 2027 buyers: This is the one we’ll be flagging with every buyer who works with a FHM loan officer. At closing, escrow is usually estimated from the home’s most recent tax bill, which won’t reflect the new exemption yet. Your payment may start a bit higher, then adjust after your servicer’s annual escrow review, and servicers generally refund any surplus of $50 or more. Properties are generally reassessed with a change of ownership in FL, so the tax bill can be higher than what the seller was paying.
What Amendment 3 Doesn’t Do
Amendment 3 is a meaningful change, but it’s worth knowing its limits before you plan your budget around it.
- It doesn’t eliminate property taxes. School taxes and certain non-ad valorem assessments, like some drainage or service fees, stay on your bill.
- It doesn’t cover second homes or investment properties. Only your permanent residence qualifies for the homestead exemption.
- It doesn’t lock in local tax rates. Cities and counties can still adjust their rates within legal limits, so actual savings will vary by where you buy.
Frequently Asked Questions (FAQ)
For 2026, it’s about $50,000. Under Amendment 3, the exemption on non-school property taxes rises to up to $150,000 in 2027 and up to $250,000 in 2028, then adjusts for inflation.
Amendment 3 takes effect January 1, 2027. The first property tax bills reflecting it arrive in November 2027.
No. What matters is being a permanent Florida resident by December 31, 2026. You can buy later and still qualify for the larger exemption once you own, live in, and file for your home.
No. The larger exemption applies only to non-school taxes. The existing $25,000 exemption that covers school taxes doesn’t change.
Not right away. You’ll start with the current exemption of about $50,000, adjusted for inflation, and become eligible for the larger exemption in your fifth year of receiving the exemption.
Probably not. If your taxes are paid through escrow, your payment typically adjusts after your servicer’s annual escrow review, once the lower tax bill is known.
The homestead exemption doesn’t. However, the annual cap on assessment increases for non-homestead property drops from 10 percent to 5 percent.
Amendment 3 can change the math on what you can comfortably afford. The details depend on your timing, your residency, and where you buy, and that’s exactly what FHM helps buyers sort out.
Whether you already live in Florida or you’re planning a move, our experienced loan officers in our Tampa branch are available to help. Get started with an expert loan officer today.