Amendment 3 (Nov 3): why your Florida residency date matters

Miami, Florida
Buying & Selling Real Estate
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Amendment 3 (Nov 3): why your Florida residency date matters

Jenya Moshea
Realtor · Miami, FL · Member since 2026 · 5 posts · 1 vote

Quick explainer for anyone buying or relocating to South Florida, not a voting recommendation. Florida's Amendment 3 is on Tuesday's ballot and needs 60% to pass. If it passes, starting Jan 1, 2027:

  • The homestead exemption for non-school property taxes would go up to $150,000 in 2027 and $250,000 in 2028, then adjust for inflation. School taxes keep the $25,000 exemption. Today's total exemption is up to about $51,411.

  • People who weren't Florida residents by Dec 31, 2026 would start with a smaller $50,000 exemption, and the bigger one would kick in starting their 5th year of homestead.

  • Rentals and second homes don't get homestead, but their yearly cap on assessed-value increases would drop from 10% to 5%. That caps assessed value, not the tax bill itself.

  • For scale, Florida TaxWatch estimates (via the Miami Herald) savings for a City of Miami homeowner of about $1,216 in 2027 and $2,448 in 2028. Actual savings depend on your home's value and local tax rates.

Sources: Florida Division of Elections ballot summary (https://constitutionalinitiatives.dos.fl.gov/Home/InitDetail?account=10&seqnum=110), Pinellas County Property Appraiser FAQ (https://www.pcpao.gov/amendment3), Miami Herald (https://www.miamiherald.com/news/business/real-estate-news/article317750036.html).

For anyone planning a 2027 move: is the residency date changing your timeline, or is it not a big enough factor to matter?

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  • Diana KhanPro Member
    Attorney · 10451 Mill Run Cir #755 Owings Mills, MD 21117 · Member since 2024 · 716 posts · 257 votes
    5d
    Quote from @Jenya Moshea:

    Quick explainer for anyone buying or relocating to South Florida, not a voting recommendation. Florida's Amendment 3 is on Tuesday's ballot and needs 60% to pass. If it passes, starting Jan 1, 2027:

    • The homestead exemption for non-school property taxes would go up to $150,000 in 2027 and $250,000 in 2028, then adjust for inflation. School taxes keep the $25,000 exemption. Today's total exemption is up to about $51,411.

    • People who weren't Florida residents by Dec 31, 2026 would start with a smaller $50,000 exemption, and the bigger one would kick in starting their 5th year of homestead.

    • Rentals and second homes don't get homestead, but their yearly cap on assessed-value increases would drop from 10% to 5%. That caps assessed value, not the tax bill itself.

    • For scale, Florida TaxWatch estimates (via the Miami Herald) savings for a City of Miami homeowner of about $1,216 in 2027 and $2,448 in 2028. Actual savings depend on your home's value and local tax rates.

    Sources: Florida Division of Elections ballot summary (https://constitutionalinitiatives.dos.fl.gov/Home/InitDetail?account=10&seqnum=110), Pinellas County Property Appraiser FAQ (https://www.pcpao.gov/amendment3), Miami Herald (https://www.miamiherald.com/news/business/real-estate-news/article317750036.html).

    For anyone planning a 2027 move: is the residency date changing your timeline, or is it not a big enough factor to matter?

    @Jenya Moshea, I think the residency date is worth paying attention to, but I wouldn't make a big decision like moving to another state based on that alone. I'd want to look at the overall cost of owning the property, my financial situation, and how the proposed changes could affect me if they pass.

    I'm a real estate attorney, broker, and investor based in Maryland, and I work with clients on property purchases, contracts, and real estate matters. In my work with buyers, I always find it important to look beyond the purchase price and understand the responsibilities and costs that come with owning a property.

    Thanks for sharing this, @Jenya Moshea! It's a helpful topic for people planning a move, especially with possible changes ahead. Happy to stay connected!

    [email protected]240-266-0291
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  • Melissa HaworthBusiness Member
    Real Estate Agent · The Panhandle | The Emerald Coast | Panama City Beach | Destin · Member since 2017 · 281 posts · 106 votes
    6h

    Quick update for anyone finding this now, Amendment 3 passed yesterday with about 62% of the vote, so this stuff is real now and not a maybe. For my buyers on the Emerald Coast, the residency date is the thing I'd pay attention to if you're planning to move down full time. Being a Florida resident by December 31 gets you on the better side of that rule. For rentals and second homes, the cap on assessed value increases going from 10% to 5% helps, but like Jenya said, it limits the assessed value and not the actual bill. It's worth talking to the county property appraiser's office about your specific situation.

    [email protected]469-658-2869
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