11/04/2026
🏡 Florida voters said YES to Amendment 3!
With nearly 62% voting in favor, Florida is making some major changes to property taxes.
Starting in 2027, qualifying homeowners will see a larger homestead exemption, increasing to $150,000 in 2027 and $250,000 in 2028.
So, what does that actually mean?
A larger portion of your home's assessed value could be exempt from property taxes, potentially reducing your annual tax bill. The increased exemption applies to non-school property taxes only.
Here's something future homebuyers should know: 👀
Florida residents who establish residency after December 31, 2026, generally won't qualify for the larger exemption until their fifth year of homestead eligibility.
And there's more to this amendment. It also reduces the annual assessment increase cap on most non-homestead properties, including second homes and investment properties, from 10% to 5%.
The changes take effect January 1, 2027, but the actual tax savings will depend on your property's assessed value and local tax rates.
Already own a home or thinking about buying in Florida? These are changes worth understanding as you plan for the years ahead.
