Florida Property Tax Relief: What You Should Know

FLORIDA AMENDMENT 3 · PROPERTY TAX

One date may decide when you qualify for Florida's larger homestead exemption. Renters, buyers, and owners should know this before year-end.

Florida property tax update: Amendment 3 appears to have enough votes for approval, pending state certification on November 17. Here is what it may mean for you, depending on where you are today.

Already own your primary home in Florida?

For qualifying homesteaded properties, the exemption for non-school property taxes increases from approximately $51,000 today to $150,000 in 2027 and $250,000 in 2028. School taxes keep the current $25,000 exemption. Your savings depend on your assessed value and local tax rates.

Renting in Florida?

You don't have to buy before year-end to keep eligibility for the larger exemption. The key is to maintain permanent Florida residency as of December 31, 2026, and then meet homestead requirements when you purchase. If you own and live in your home by January 1, 2027, you may qualify for the larger exemption one year sooner.

Planning a move to Florida?

December 31, 2026, could matter. People who establish permanent residency after that date are eligible for the existing exemption, with the larger exemption potentially beginning in their fifth year of homestead. Buying a home alone doesn't establish residency; a Florida driver's license, voter registration, vehicle registration, and a declaration of domicile typically help document it.

Own a second home or rental property in Florida?

For non-homestead property, the annual cap on assessment increases for non-school taxes drops from 10% to 5%. If you plan to make the property your full-time home and establish permanent residency by December 31, 2026, you may keep the larger exemption.

If a move or purchase in Southwest Florida is on your radar, now is a good time to understand how these dates affect your plans. We can walk through your timeline together.

Alexander Kirilloff, REALTOR®

Keller Williams Elite Realty

239-483-9009 · LiveSWFL.net

This is general information, not tax or legal advice. Please confirm eligibility with your county property appraiser.