11/04/2026
Florida voters just approved Amendment 3, which substantially increases the homestead property tax exemption for qualifying Florida homeowners. However, there's an important deadline that could affect how much you save.
Here's what's changing:
2027: The homestead exemption increases to $150,000.
2028: The exemption increases to $250,000.
2029 and beyond: The exemption adjusts for inflation.
These expanded exemptions apply to non-school property taxes and could provide substantial annual savings, depending on the home's assessed value and local tax rates.
Here's why December 31, 2026, is so important.
Under the new amendment, individuals who establish permanent Florida residency by December 31, 2026, may qualify for the expanded exemption as soon as they meet the normal homestead requirements.
However, those who establish residency on or after January 1, 2027, will initially qualify for the existing homestead exemption of approximately $50,000 and generally must wait until their fifth year of homestead eligibility to receive the expanded benefit.
What does this mean for your relocation plans?
If you're already considering making Florida your permanent home, purchasing and establishing residency before the end of this year could provide a meaningful financial advantage over waiting until 2027.
Of course, purchasing a home alone doesn't automatically establish residency or guarantee eligibility. The county property appraiser will determine qualification based on the applicable requirements.
With the end of the year approaching, I'd be happy to help you explore available homes throughout Brevard and Indian River counties, including Melbourne, Palm Bay, Viera, Sebastian, and the surrounding communities.
We can even arrange live FaceTime property tours if you're still out of state!
If Florida is in your future, now may be the perfect time to explore your options. I'd love to help you make the most of this opportunity.