09/14/2026
How would the tax proposal impact someone building a new construction home in Florida if it is not complete by December 31st?? OR someone that is renting but has not actually purchased a home in Florida yet?
IF you are already a Florida resident (whether renting or owning an existing home), it will only affect the first year's homestead exemption, but not the additional benefits following 2027.
* What if I’m a Florida resident by December 31, 2026, but haven’t purchased a Florida home yet?
Those that establish Florida residency by December 31, 2026, would be eligible for the higher exemption amount when they do choose to purchase a residential property and apply for homestead.
* What if I become a Florida resident on January 1, 2027 or later?
The amendment establishes a different exemption structure for individuals who become Florida residents on or after January 1, 2027.
Under the proposal, individuals who establish Florida residency on or after January 1, 2027, would begin with the exemption amount established for new Florida residents ($50,000, adjusted annually by CPI beginning in 2028), which would apply to the first $50,000 of assessed value for non-school taxes.
After maintaining a Florida homestead exemption for four years, the property owner would become eligible for the larger homestead exemption beginning January 1 of the fifth year.
Additional administrative procedures may be established through implementing legislation.
FAQ page here for more information:
