Florida Voters Approve Amendment 3: $250,000 Homestead Exemption, Key December 31, 2026 Residency Deadline
Downtown West Palm Beach, Florida, showcases the Sunshine State's vibrant waterfront lifestyle and growing real estate opportunities as Amendment 3 introduces expanded homestead property tax benefits. Photo courtesy of Christie Di Lemme | FloridaRealtorFo
Florida Amendment 3 expands homestead exemptions to $250,000 by 2028. Realtor Christie Di Lemme highlights the December 31, 2026, residency deadline.
Beginning January 1, 2027, the homestead exemption for qualifying homeowners will increase to $150,000, followed by an increase to $250,000 in 2028, with inflation adjustments beginning in 2029. These exemptions apply to property taxes other than school district taxes.
The amendment also reduces the annual assessment increase cap on non-homestead properties, including second homes, investment properties and commercial real estate, from 10% to 5%.
One of the most significant provisions establishes December 31, 2026, as a key Florida residency deadline. Individuals who establish Florida residency by that date may qualify for the expanded homestead exemption sooner upon establishing an eligible homestead.
Those becoming Florida residents beginning January 1, 2027, generally must wait until their fifth year of homestead exemption eligibility to receive the increased benefit.
"This is exciting news for Florida homeowners and people considering making Florida their home," said Christie Di Lemme, a Florida Realtor® with Florida Homes Realty & Mortgage. "With expanded homestead exemptions, Florida's existing advantage of no state personal income tax, and an important residency deadline approaching, prospective buyers have compelling reasons to explore Florida homeownership now."
The changes could make a meaningful difference in long-term homeownership expenses, particularly for buyers evaluating property taxes alongside mortgage payments, insurance and other ownership costs.
"Florida offers an incredible variety of homes, communities and lifestyles," Di Lemme added. "For people considering relocating, this is an excellent opportunity to explore the real estate market and understand how these new tax benefits may affect their future investment."
About Christie Di Lemme
Christie Di Lemme is a Florida Realtor®, professional home stager and designer with Florida Homes Realty & Mortgage. Based in West Palm Beach, she serves buyers and sellers throughout the entire state of Florida, specializing in residential, luxury, waterfront and land properties.
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Christie Di Lemme
Florida Homes Realty & Mortgage
West Palm Beach, Florida
Phone: (561) 644-0578
Website: https://FloridaRealtorForYou.com
Christie Di Lemme
Christie Di Lemme - Real Estate
+1 561-644-0578
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