es on the proposed amendment and Florida's homestead exemption rules.Florida's Property Tax Amendment: The Basics for Homeowners & Buyers
Florida voters will decide on a proposed constitutional amendment this November that could significantly change homestead property tax exemptions beginning in 2027. While the proposal has generated plenty of headlines, nothing has changed yet.
What's Being Proposed?
If approved by at least 60% of Florida voters on November 3, 2026, the amendment would:
Increase the non-school homestead exemption from $50,000 to $150,000 in 2027.
Increase it again to $250,000 in 2028, with future adjustments tied to inflation.
Lower the annual assessment cap for non-homestead properties (such as second homes and investment properties) from 10% to 5% beginning in 2027.
Important: School district property taxes are not affected, so property tax bills would not disappear entirely.
Why December 31, 2026 Matters
One of the most important details is the Florida residency deadline.
If you establish permanent Florida residency on or before December 31, 2026, you may qualify for the full expanded homestead exemption schedule if the amendment passes.
Those who become Florida residents after January 1, 2027 would receive the current exemption initially and may have to wait several years before qualifying for the full expanded benefit. Establishing residency involves more than purchasing a home—it includes factors such as your Florida driver's license, voter registration, vehicle registration, and primary residence.
What It Means for Buyers & Homeowners
Current Florida homeowners with homestead exemption could automatically benefit if the amendment passes.
Out-of-state buyers considering a move to Florida before year-end should understand how the residency timeline may affect future tax savings.
Investors and second-home owners would not receive the expanded homestead exemption but could benefit from the reduced assessment cap.
The Bottom Line
This proposal is not law yet. Florida voters will make the final decision this November, and if approved, the changes would begin January 1, 2027. For anyone planning to relocate to Florida, understanding the residency deadline and potential tax implications can be an important part of the overall financial picture—not the sole reason to buy a home.
For additional information, visit the official resources from the Florida Department of Revenue ww.floridarevenue.com and the Florida Legislature at www.leg.state.fl.us for updates on the proposed amendment and Florida's homestead exemption rules.
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