If you’re considering buying a home on Florida’s Treasure Coast, the Florida Amendment 3 homestead exemption proposal is something you should know about — especially if you’re thinking about making Florida your permanent residence.
Florida Amendment 3 could significantly change the homestead property-tax exemption beginning in 2027.
And for some future Florida homeowners, December 31, 2026 could become an important date.
What Is Florida Amendment 3?
The Florida Amendment 3 homestead exemption proposal is a proposed amendment to the Florida Constitution dealing with homestead exemptions and property assessments.
If Florida voters approve it, the homestead exemption for non-school property taxes would increase to:
$150,000 in 2027
$250,000 in 2028
After that, the amount would be adjusted for inflation.
This expanded exemption would apply to non-school property taxes. School district taxes are treated differently and would not receive this expanded exemption.
Why December 31, 2026 Matters
This is the part prospective Florida buyers should pay particular attention to.
Under the proposed amendment, people who are Florida residents on December 31, 2026 and otherwise qualify for the homestead exemption could receive the increased exemption beginning in 2027.
People who are not Florida residents on December 31, 2026 would still be able to receive Florida’s existing homestead exemption once they qualify.
However, under the proposal, the increased homestead exemption would not begin until their fifth year of exemption, to the extent permitted under the U.S. Constitution.
In other words, the existing Florida homestead exemption isn’t disappearing for people who move here later. The potential difference is when they become eligible for the much larger proposed exemption.
Does This Mean You Should Buy Before the End of 2026?
Not necessarily.
Amendment 3 is not law yet. It is on Florida’s November 2026 general-election ballot, and proposed constitutional amendments require at least 60% voter approval to pass.
Buying a home and establishing Florida residency are also not necessarily the same thing. Homestead eligibility depends on the property being your permanent residence and meeting Florida’s eligibility requirements.
But if you’ve already been considering purchasing a primary residence in Florida, the December 31 date is something worth knowing about as you consider your timing.
There’s Another Reason Buyers Are Looking at the Treasure Coast
Beyond the proposed tax changes, today’s real estate market is giving many buyers something they haven’t had in recent years:
Choices.
More inventory can mean more opportunity to compare homes, negotiate terms and, depending on the property and circumstances, potentially negotiate seller concessions.
And some qualified buyers may have access to financing programs requiring little or even no down payment.
That’s why buyers who stepped away from the market a year or two ago may want to take another look at what’s available today.
What Happens Next?
Florida voters will decide Amendment 3 in the November 3, 2026 general election. If approved, the amendment is scheduled to take effect January 1, 2027.
Until then, these changes remain proposed, not guaranteed.
If you’re considering buying a home in Port St. Lucie, Tradition, Stuart, Jensen Beach, Palm City or elsewhere on the Treasure Coast, I’d be happy to help you explore what’s available and determine whether buying before the end of 2026 makes sense for your particular situation.
Donna Jarock
Echo Fine Properties
Living on the Treasure Coast
772-292-8111
This article is provided for general real estate information and is not legal, tax or financial advice. Buyers should consult the appropriate tax or legal professional regarding their individual circumstances.
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