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Florida's Amendment 3 could save qualifying homeowners thousands of dollars in property taxes. Moving to Florida? Relocating to Florida? Here's what you need to know:
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Unless you close by 12/31/26, you will not get the exemption until your fifth year as a Florida homeowner. Becoming a permanent resident by 12/31/26 gets you the full $150K (2027) and $250K (2028) homestead exemption.
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As per the Florida Chamber of Commerce, if you establish permanent Florida residency on or after 1/1/27, you do not immediately qualify for the full expanded non-school exemption. Instead, you receive the standard/initial exemption and must wait five years of continuous Florida residency before qualifying for the full expanded $250K non-school exemption.
- New residents from 1/1/27 receive a $50,000 non-school exemption plus $25,000 for school taxes until your fifth year of homestead, then the full amount.
Questions about property taxes and the new homestead exemption? At The De Marzo Luxury Group, we help buyers find the ideal home for their lifestyle and budget while explaining how the new laws apply to their situation. As longtime resident real estate agents with lifetime sales in excess of $1.5 Billion, we are uniquely qualified to help buyers looking to purchase homes in Boca West Country Club, Broken Sound Club, Boca Delray Golf & Country Club, and across South Florida! Allow us to be part of your homebuying journey, helping you navigate the process with clarity and confidence.
Click here to call Anne De Marzo and click here to call John De Marzo.
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