What Amendment 3 Means If You’re Moving to Florida

Florida voters decide Amendment 3 on Nov. 3. If it passes, the most important date for anyone planning a move to Florida won’t be Election Day. It will be Dec. 31, 2026.

The amendment would raise the homestead exemption on non-school property taxes from $51,411 this year to $150,000 in 2027 and $250,000 in 2028, with inflation adjustments after that. It needs 60% of the vote to pass, and it would take effect Jan. 1, 2027.

The catch for newcomers is in the ballot language. Anyone who is not a Florida resident on Dec. 31, 2026 would get the current exemption once they qualify for homestead, and the larger exemption wouldn’t start until their fifth year of having it. That means a family that moves down in 2027 and buys right away would spend its first four years of homestead at the smaller exemption.

A lot of the coverage so far has treated that as a deadline to buy. Jeff Lichtenstein of Echo Fine Properties in Palm Beach Gardens told WPTV he expects a rush of buyers if the measure passes. The station reported that buyers need to be homesteaded by Dec. 31 to get the full savings right away. The ballot summary doesn’t say that. It ties the cutoff to residency, not to closing on a house. The Leon County Property Appraiser’s office says people who become Florida residents by Dec. 31 would still qualify for the higher amount when they buy later and apply for homestead.

Becoming a resident takes more than showing up. Law firm Bilzin Sumberg notes that proof of permanent residence can include a Florida driver’s license, voter registration, vehicle registration and a declaration of domicile.

The homestead rules themselves don’t change. You have to own the home and live in it as your permanent residence on Jan. 1. In Broward, the deadline to file for 2027 is March 1, 2027. You also can’t keep a residency-based tax break in another state, like New York’s STAR exemption, while claiming homestead here. And if you’re keeping a second home in Florida while staying a resident up north, the amendment doesn’t apply to you at all.

The newcomer rule also comes with an asterisk. The ballot language says the waiting period applies “to the extent permitted by the U.S. Constitution.” More than 40 years ago, the Florida Supreme Court struck down a nearly identical five-year waiting period for new residents to get a property tax break. Critics have questioned whether this version would survive a court challenge.

On prices, the picture is mixed. A 2025 Realtor.com study estimated Florida home values could jump 7% to 9%, but that study looked at eliminating property taxes entirely, not this amendment. Lichtenstein told WPTV he doesn’t expect gains that large. Florida Realtors CEO Margy Grant said prices come down to supply and demand, and they have stabilized as inventory has grown.

Supporters include Gov. Ron DeSantis, the Republican Party of Florida and Florida Realtors, which has put $18 million behind the Yes campaign. They say the amendment gives homeowners real relief from rising costs. Opponents include the Florida Democratic Party, Florida TaxWatch and groups representing cities, counties and public safety. They warn it could force service cuts or higher fees. State economists estimate it would reduce local revenue by $5 billion in the first year and up to $12 billion a year once fully in place. Polls have been mixed.

My take

Nobody knows yet whether this passes, so don’t make a six- or seven-figure decision around a vote that needs 60%.

If it does pass, the date that matters is when you become a Florida resident, not when you close. If your job starts here in January, you may be able to rent first, establish residency before Dec. 31 and still get the bigger exemption when you buy. Confirm that with the property appraiser in the county you’re moving to before you count on it.

Moving your residency early has a cost back home, too. Changing states mid-year affects how you file taxes there, so talk to a CPA before you swap your license and plates.

And if your move was planned for summer 2027, the four-year wait on the bigger exemption is real money. It still shouldn’t push you into the wrong house or the wrong neighborhood. Buy for the next five to ten years, not for a ballot measure.

Sources

WPTV, “Amendment 3 could bring rush of Florida homebuyers, impact property values”: https://www.wptv.com/money/real-estate-news/amendment-3-could-bring-rush-of-florida-homebuyers-impact-property-values
Florida Phoenix, 2026 Amendment 3 voter guide: https://floridaphoenix.com/voter-guides/ballot-measures/2026-amendment-3/
NBC Miami, “Florida Amendment 3: What a YES or NO vote would mean”: https://www.nbcmiami.com/news/local/florida-amendment-3-what-a-yes-or-no-vote-would-mean/3873576/