What Homeowners and Buyers Need to Know

Florida voters approved Amendment 3 on November 3, 2026, bringing changes to homestead exemptions and property assessments. For homeowners, buyers, and investors across Tampa Bay and West Central Florida, these changes could affect the cost of owning property beginning in 2027.

At Dennis Realty, we want to help you understand the changes, the important residency date, and what to consider when planning your next move.

A Larger Homestead Exemption Begins in 2027

Florida’s homestead exemption reduces the portion of a qualifying primary residence’s assessed value that is subject to property taxes.

Amendment 3 increases the exemption for eligible homestead properties for non-school property taxes:

These amounts reduce your home’s taxable value. Your actual savings depend on your property’s assessed value, eligibility, and applicable tax rates.

Moving to Florida? December 31, 2026, Is the Key Residency Date

If you maintained a permanent residence in Florida as of December 31, 2026, you can qualify for the larger homestead exemption once you meet the applicable homestead requirements.

If you establish permanent Florida residency after that date, you generally start with an exemption of up to $50,000 of assessed value for non-school property taxes once you qualify for homestead. That amount is adjusted for inflation beginning in 2028. The larger exemption generally begins in the fifth year you receive the homestead exemption.

If you’re planning a move, contact your county property appraiser to confirm what proof of residency you’ll need, when you must own and occupy the home, and when to file.

Your 2026 Tax Bill Does Not Change

Amendment 3 does not change your November 2026 property tax bill. The first changes begin with the 2027 tax year.

If you already receive a homestead exemption, check with your county property appraiser to confirm whether you need to take any action. If you’re applying for the first time, your county property appraiser can provide filing instructions and deadlines.

School Taxes and Other Charges Still Apply

The larger exemption applies to non-school property taxes. The standard homestead exemption for school taxes remains $25,000.

Separate charges, including applicable stormwater, solid waste, and community development district assessments, remain. Tax rates and assessments can also change, so the amendment does not guarantee a specific reduction in your total bill.

What About Second Homes and Investment Properties?

Second homes, rental properties, and commercial properties do not qualify for the primary-residence homestead exemption.

However, Amendment 3 reduces the annual assessment increase cap for qualifying non-homestead properties from 10% to 5% for non-school taxes.

This limits growth in assessed value; it does not limit the total tax bill to a 5% annual increase.

Existing Homestead Protections Continue

Amendment 3 preserves Save Our Homes, which generally limits annual assessment increases on qualifying homestead property to 3% or the change in the Consumer Price Index, whichever is lower.

Florida’s portability provisions also remain in place, allowing eligible homeowners to transfer qualifying Save Our Homes assessment benefits when moving to another Florida homestead.

Plan Your Next Move With Dennis Realty

Property taxes are an important part of your homeownership budget. Whether you are relocating to Florida, purchasing your first home, or exploring an investment property, understanding these changes can help you plan with greater confidence.

Dennis Realty has served West Central Florida since 1973, helping buyers and sellers throughout Hillsborough, Pasco, Pinellas, Hernando, and surrounding communities.

If a move to Florida is on your calendar, now is a good time to explore your options and confirm how the December 31, 2026, residency date may affect your plans.

Ready to find your Florida home? Visit DennisRealty.com to connect with our team.

Updated November 9, 2026. This article provides general information. Contact your county property appraiser or a qualified tax professional to confirm your eligibility, filing requirements, and potential savings.