If you're one of the Amendment 3 Florida homebuyers weighing a move, the new law has one detail you shouldn't miss: a residency cutoff. Voters passed Amendment 3 on November 3, 2026, and it raises the homestead exemption in 2027 and 2028. But your residency date can change how soon you qualify for the larger amount. William Ryan Homes builds new homes across Florida, so here's how it works.
Amendment 3 Florida Homebuyers and the December 31, 2026 Cutoff
The larger exemption schedule applies to people who are permanent Florida residents as of December 31, 2026 and otherwise qualify for homestead. According to Bilzin Sumberg, the exemption then starts at $150,000 on January 1, 2027, and rises to $250,000 on January 1, 2028. Both amounts apply to non-school property taxes.
What if you become a Florida resident after that date? You generally start with a $50,000 exemption on non-school taxes beginning in 2027. You can then qualify for the larger exemption in your fifth year. Sources describe the five-year count a little differently, so confirm the exact timing with your county property appraiser.
Residency Isn't the Same as Buying a Home
This is where buyers get tripped up. When Florida becomes your permanent residence is one question. When a specific property becomes your homestead is a separate one. Closing on a house doesn't automatically settle both.
Residency depends on your facts. Examples include a Florida driver's license, voter registration, vehicle registration, a declaration of domicile, and updated mailing and financial addresses. If you're relocating, ask a tax professional how those steps apply to your situation.
What If You Already Live in Florida?
Good news for current Floridians. If you already maintain permanent residence here and qualify for homestead, you're on the larger schedule. But what about moving to a new home? One analysis from CPA Practice Advisor says the language suggests current homesteaders who buy a new home would qualify, though it isn't explicit. Ask your property appraiser to confirm before you count on it.
What Else Matters to Amendment 3 Florida Homebuyers
A few other details can shape your budget. Here's the short list:
- School taxes don't change. The $25,000 school exemption stays the same.
- Save Our Homes stays. Your homestead's assessed value still can't rise faster than 3% or inflation, whichever is lower.
- Second homes and rentals get a lower cap. Starting January 1, 2027, the yearly assessment cap for non-homestead property drops from 10% to 5%.
Florida also has no personal income tax, which many relocating buyers factor in. Still, homes come with other costs, like insurance and HOA or CDD fees. Our complete guide to buying a new construction home covers them.
Your Next Steps as a Florida Homebuyer
You don't need to figure this out alone. Here's a simple way to start:
- Talk with a tax professional or your property appraiser about your residency timing.
- Get pre-approved. It shows what you can spend before you tour.
- Compare communities. Explore William Ryan Homes’ communities located in Parrish, Tampa Bay, or Punta Gorda in Southwest Florida.
- Ask about quick move-in homes. You can browse quick move-in homes in Tampa if you want to move sooner.
Ready to Talk With Our Team?
The fastest way to get exact numbers is to reach out. Request information today and a sales counselor will share pricing, floor plans, and current incentives. It only takes a minute, and there's no obligation. Prefer to see a home in person? Schedule a new construction home tour.
This post is general information, not tax or legal advice. Confirm how Amendment 3 applies to you with your county property appraiser or a tax professional.
