{"id":3773,"date":"2026-10-08T15:00:15","date_gmt":"2026-10-08T18:00:15","guid":{"rendered":"https:\/\/faccinmiami.com\/blog\/?p=3773"},"modified":"2026-10-08T15:00:15","modified_gmt":"2026-10-08T18:00:15","slug":"florida-amendment-3-homestead-property-tax-residency","status":"publish","type":"post","link":"https:\/\/faccinmiami.com\/blog\/florida-amendment-3-homestead-property-tax-residency\/","title":{"rendered":"Florida Amendment 3: The Residency Clock That Changes Your Property Tax"},"content":{"rendered":"
Florida Amendment 3 goes to voters on November 3, 2026. If approved by at least 60 percent, it would reshape how permanent residents, second-home owners, and investors experience property taxation in Miami and across Florida\u2014starting January 1, 2027. Two items stand out: a larger homestead exemption for non-school taxes and a new five-year residency clock that limits the exemption for newer residents. Separately, for those without homestead status, the annual cap on assessed value increases would be cut in half.<\/p>\n
This article explains what changes for a resident owner, what changes for a non-resident owner or investor, and how the December 31, 2026 residency date could affect eligibility. It also clarifies the difference between the homestead exemption, the Save Our Homes assessment cap on homestead property, and the non-homestead assessment cap\u2014three distinct mechanisms that are often confused.<\/p>\n
What would change if Amendment 3 passes<\/h2>\n
If Amendment 3 secures at least 60 percent of the vote, these provisions take effect January 1, 2027:<\/p>\n
\n
Homestead exemption for non-school taxes: The current $51,411 exemption would rise to $150,000 in 2027 and $250,000 in 2028, then adjust annually for inflation. This exemption reduces the taxable value for county, city, and other non-school levies.<\/li>\n
School district levies: No change. The existing $25,000 homestead exemption for school taxes remains.<\/li>\n
Residency clock: Anyone who did not maintain a permanent residence in Florida as of December 31, 2026 would receive only a $50,000 homestead exemption during the first five years of permanent homeowner resident status, becoming eligible for the full amount beginning with the fifth year of exemption. The ballot summary includes the caveat \u201cto the extent permitted by the U.S. Constitution.\u201d<\/li>\n
Non-homestead properties: The cap on annual assessment increases would fall from 10 percent to 5 percent. This applies to second homes, investment properties, and rentals that do not receive the homestead exemption.<\/li>\n
Use of local property taxes: Counties and municipalities would be required to spend property tax revenue only on public safety, education and schools, infrastructure, natural resources, bond debt service, retirement benefits for employees, and operations and administration.<\/li>\n<\/ul>\n
The infographic below (in English) summarizes the thresholds and dates in a single view.<\/p>\nEnglish infographic outlining the proposed 2027\u20132028 homestead exemption increases, the five-year residency clock, and the 5% non-homestead assessment cap.<\/figcaption><\/figure>\n
If Amendment 3 does not pass<\/h2>\n
If the amendment falls short of 60 percent support, current law continues:<\/p>\n
\n
Homestead exemption for non-school taxes stays at its current level.<\/li>\n
School district levies keep the existing $25,000 exemption.<\/li>\n
The non-homestead assessment cap remains at 10 percent per year.<\/li>\n
There is no new five-year residency clock.<\/li>\n<\/ul>\n
For buyers and owners in Miami planning around 2027, it is prudent to model both outcomes and confirm assumptions with qualified professionals. Do not rely on a property purchase to make or prove Florida residency.<\/p>\n
Resident owners: homestead exemption vs. Save Our Homes cap<\/h2>\n
For a permanent resident who owns and occupies a home as a primary residence, two distinct concepts matter:<\/p>\n
\n
Homestead exemption: This reduces the taxable value for non-school property taxes (and separately, a smaller exemption applies to school taxes). Amendment 3 addresses this non-school exemption.<\/li>\n
Save Our Homes assessment cap: This is a separate limit on how much the assessed value of a homestead property can rise each year. It is different from the non-homestead cap discussed below. Confusing the exemption with either assessment cap can lead to mistaken estimates.<\/li>\n<\/ul>\n
If Amendment 3 passes, established Florida residents could see a much larger non-school homestead exemption over two years, then an inflation adjustment thereafter. Newer residents\u2014those who did not maintain Florida permanent residence as of December 31, 2026\u2014would be limited to a $50,000 homestead exemption for their first five years of permanent homeowner resident status, then become eligible for the full amount beginning with the fifth year of exemption, subject to constitutional limits.<\/p>\n
In practice, a resident owner should verify permanent residency status and timing with the county property appraiser and seek qualified advice on documentation and eligibility. Eligibility is defined by law and turns on permanent residence, not merely property ownership.<\/p>\n
The December 31, 2026 residency clock and five-year phase\u2011in<\/h2>\n
The proposed five-year phase-in is the least discussed\u2014and most consequential\u2014detail for those relocating to Florida after 2026. Under the ballot language, if you did not maintain a permanent residence in Florida by December 31, 2026, your non-school homestead exemption would be capped at $50,000 during your first five years of permanent homeowner resident status, then step up to the full amount starting with the fifth year of exemption.<\/p>\n
Two critical caveats:<\/p>\n
\n
Constitutional question: In 1982, the Florida Supreme Court struck down a similar waiting period for an increased homestead exemption, holding the state may not impose different taxes on citizens based solely on how long they have been permanent residents. Amendment 3 explicitly says the residency clock applies \u201cto the extent permitted by the U.S. Constitution.\u201d The actual application could be litigated. Obtain legal advice before making residency decisions.<\/li>\n
Timing is everything: The controlling date is maintaining permanent residence by December 31, 2026, not your closing date alone. Establishing Florida residency is a broader legal and factual exercise that extends beyond buying a home. Decisions about residency should be made with qualified legal and tax counsel, not driven solely by a real estate transaction.<\/li>\n<\/ul>\n
For globally mobile buyers choosing between Miami and other hubs, this residency clock could determine the homestead exemption profile for the first years of ownership. It does not affect the Save Our Homes assessment cap or the non-homestead cap directly, but it changes the starting point for taxable value on non-school levies for new Florida residents.<\/p>\nThe December 31, 2026 residency date gates access to the larger homestead exemption; newer residents would be limited to $50,000 for the first five years, subject to constitutional limits.<\/figcaption><\/figure>\n
Investors and second-home owners: the non-homestead assessment cap<\/h2>\n
If you own a Miami property that is not your permanent residence\u2014whether a second home or an investment property\u2014Amendment 3 does not grant a homestead exemption. Your primary lever is the annual cap on assessed value increases:<\/p>\n
\n
If Amendment 3 passes, the non-homestead assessment cap would drop from 10 percent to 5 percent per year starting in 2027.<\/li>\n
If it fails, the cap stays at 10 percent.<\/li>\n<\/ul>\n
This cap does not control market value. It limits how fast the assessed value used for taxation can rise year to year on non-homestead property. For leveraged investors and rental owners, the cap affects operating projections and year-over-year tax variability but does not guarantee outcomes. Confirm how a change of ownership, new construction, or value adjustments interact with the cap in your specific case.<\/p>\n
Local budgets and service priorities<\/h2>\n
Independent analysts estimate the measure would reduce local government revenue by about $13.7 billion in its first two years. The proposal also narrows how counties and cities may spend property tax revenue\u2014limited to public safety, schools and education, infrastructure, natural resources, bond debt service, employee retirement benefits, and operations and administration. A late-September to early-October 2026 survey of likely voters found 55 percent in favor, 26 percent opposed, and 19 percent undecided, within a margin of error of about four percentage points. Owners should plan for either outcome and follow local budget discussions without assuming a particular service impact.<\/p>\n
What to verify before you buy or file<\/h2>\n
Before closing on a Miami property or claiming an exemption:<\/p>\n
\n
Property use: Confirm whether you will treat the home as a permanent residence or keep it as a second home or investment.<\/li>\n
Residency status and timing: If relocating, evaluate whether you maintained Florida permanent residence by December 31, 2026 and what evidence supports that status. Obtain qualified professional advice; do not rely on a purchase alone.<\/li>\n
Which cap applies: Distinguish the Save Our Homes assessment cap for homestead property from the non-homestead assessment cap. They operate differently from the exemption.<\/li>\n
School vs. non-school: Model non-school taxes with the proposed higher homestead exemption and remember school district levies keep the existing $25,000 exemption.<\/li>\n
Ownership and changes: Understand how changes in ownership, improvements, or reclassifications may affect your assessed value trajectory.<\/li>\n<\/ul>\n
None of the above is tax, legal, or accounting advice. Engage appropriate professionals in Florida for your situation.<\/p>\n
Frequently asked questions<\/h2>\n
Does the homestead exemption reduce my property tax bill dollar-for-dollar?<\/h3>\n
No. The exemption reduces the taxable value for non-school property taxes. School district taxes have a separate, smaller homestead exemption that is unchanged by the proposal.<\/p>\n
If I move to Florida after December 31, 2026, do I lose the larger exemption permanently?<\/h3>\n
Under Amendment 3, newer residents would be capped at a $50,000 homestead exemption for the first five years of permanent homeowner resident status, then become eligible for the full amount beginning with the fifth year of exemption. The ballot summary adds \u201cto the extent permitted by the U.S. Constitution,\u201d and the waiting period could face legal challenge. Seek qualified legal guidance.<\/p>\n
I own a Miami condo I rent out. What would change for me?<\/h3>\n
You would not receive a homestead exemption. If Amendment 3 passes, the non-homestead assessment cap would drop to 5 percent annually beginning in 2027; if it fails, it remains 10 percent. This cap limits assessed value growth, not market value.<\/p>\n
Is the homestead exemption the same as the Save Our Homes cap?<\/h3>\n
No. The exemption reduces taxable value; Save Our Homes is an assessment cap for homestead property. Amendment 3 changes the exemption and the non-homestead assessment cap but does not change the existence of the homestead assessment cap.<\/p>\n
Plan ahead for Miami ownership under Florida Amendment 3<\/h2>\n
For permanent residents, Amendment 3 could significantly change the non-school homestead exemption structure beginning in 2027, with an added residency clock for those who did not maintain Florida permanent residence by December 31, 2026. For investors and second-home owners, the main change would be a tighter 5 percent annual assessment cap. In either case, separate the homestead exemption from the Save Our Homes and non-homestead caps, and verify details with qualified professionals before making residency decisions or underwriting a purchase.<\/p>\n
![\"English](\"https:\/\/faccinmiami.com\/blog\/wp-content\/uploads\/2026\/10\/faccin-w41-a3-infographic.webp\")
![\"Conceptual](\"https:\/\/faccinmiami.com\/blog\/wp-content\/uploads\/2026\/10\/faccin-w41-a3-inline.webp\")