Big News for Florida Homeowners: The Homestead Exemption Is Increasing!

Florida homeowners have something important to pay attention to following the November 3, 2026 election.

Voters approved Amendment 3, which increases the state's Homestead Exemption for qualifying primary residences. The change could mean meaningful property tax savings for many Florida homeowners.

But what exactly does this mean, and how could it affect you?

Let's break it down.

First, what is the Florida Homestead Exemption?

If you own a home in Florida and use it as your permanent primary residence, you may qualify for the Homestead Exemption.

In simple terms, it reduces the assessed value of your home that is subject to property taxes.

For example, if your home has an assessed value of $500,000, an applicable exemption reduces the amount used to calculate certain property taxes.

It's one of the benefits of owning and establishing your primary residence in Florida.

What's changing under Amendment 3?

The newly approved amendment increases the exemption for non-school property taxes.

Here's the timeline:

• 2027: Up to $150,000 of assessed value exempt from non-school property taxes.
• 2028: Up to $250,000 exempt from non-school property taxes.
• 2029 onward: The exemption amount will be adjusted for inflation.

One important distinction: the increased exemption does not apply to school district taxes. The existing school-tax exemption remains in place.

And remember, this is a reduction in taxable assessed value, not a dollar-for-dollar reduction in your property tax bill. Your actual savings will depend on your assessed value and applicable tax rates.

Who qualifies?

The increased exemption is intended for qualifying Florida homestead properties.

There is an important residency provision:

Homeowners who maintained Florida permanent residency by December 31, 2026, can qualify for the increased exemption when they establish Homestead, subject to the applicable requirements.

Those establishing Florida residency on or after January 1, 2027, generally begin with the existing exemption and become eligible for the increased amount beginning in their fifth year of Homestead eligibility.

Second homes, vacation properties, and rental properties do not qualify simply because they are located in Florida.

When does the change take effect?

Amendment 3 takes effect January 1, 2027.

The new exemption applies to the 2027 tax year, so homeowners should not expect to see this change reflected on their 2026 property tax bill.

What should Florida homeowners do now?

If you own a home in Florida, here are three things worth doing:

1. Check your Homestead status. Make sure your primary residence is properly registered with your county Property Appraiser.
2. Understand your eligibility. Residency dates and property ownership details can make a difference.
3. Stay informed. Follow updates from your local Property Appraiser's Office as the new provisions are implemented.

At Maggi Realty Group, we believe owning real estate is about more than finding the right house. It's also about understanding your investment, knowing your benefits, and making informed decisions for the future.

Whether you're buying your first Florida home, selling a longtime family property, or simply trying to make the most of your current investment, having the right information matters.

Thinking about buying or selling in Miami Shores or the surrounding neighborhoods? We'd love to help.

Vanessa Maggi | Maggi Realty Group

This article is for general educational purposes and is not legal or tax advice. Consult your county Property Appraiser or a qualified tax professional regarding your individual eligibility and savings.