11/04/2026
🌴 Amendment 3 passed! What does it mean if you’re looking to purchase in Florida?
For eligible homeowners, the homestead exemption for non-school property taxes increases to:
🏡 $150,000 in 2027
🏡 $250,000 in 2028
This reduces the assessed value subject to those taxes—not your purchase price—and could lower your annual ownership costs. School taxes and HOA fees are unaffected.
📅 Residency timing matters: Buyers who aren’t Florida residents by December 31, 2026, receive the existing homestead exemption upon qualifying, with the increased benefit beginning in their fifth year of homestead.
Purchasing a vacation or investment property? Those properties won’t qualify for homestead, but the amendment lowers the annual cap on non-homestead assessment increases from 10% to 5%. That caps assessed-value growth, not your total tax bill.
Thinking about making Florida home? Comment “FLORIDA” or message me to discuss your next move!
Jacquelynn Miller
E1ite Investments, LLC
Florida REALTOR® | Call It Closed International Realty
📲 239-306-8222
📧 [email protected]
