Homestead Exemption Up to $250,000: What to Check Before 2026 Ends
Florida’s new Homestead rules could change your ownership costs. See savings examples, residency dates and the steps for a 2027 application.
4.11.2026
8 minutes
November 12, 2026
Buying a primary home in Florida? The November 3, 2026 vote is a reason to revisit your property tax budget and moving dates. A larger Homestead Exemption could leave an eligible owner with thousands of dollars more each year. Actual savings depend on the address, assessed value and eligibility.
According to preliminary Florida Election Watch results available on November 4, Amendment 3 received about 62% support, above the 60% threshold. Certification is a separate step. The amendment provides for the changes to take effect on January 1, 2027. It does not retroactively reduce the 2026 tax bill.
Up to $250,000 exempt: what does that mean in dollars?
Homestead Exemption reduces the value on which property tax is calculated. It is not a payment to the buyer or a $250,000 discount on a home. It applies to an eligible permanent primary residence, which can be a house or a condominium.
| Period | Non-school property tax exemption | School taxes |
|---|---|---|
| 2026 | Up to $51,411 under current rules, with sufficient assessed value | Basic exemption up to $25,000 |
| 2027 | Up to $150,000 for owners eligible for the larger exemption | Basic exemption up to $25,000 remains |
| 2028 | Up to $250,000 for owners eligible for the larger exemption | Basic exemption up to $25,000 remains |
News reports often compare $50,000 with $150,000. For an accurate calculation, account for inflation indexing: the additional portion of the existing exemption is $26,411 in 2026. Combined with the first $25,000, that is a maximum of $51,411 for non-school taxes. The Florida Department of Revenue publishes this figure. The new larger exemption is not added on top of the old $51,411.
The text of Amendment 3, CS/HJR 1-F, sets out the increases, separate rules for new residents and the school-tax treatment. The $250,000 amount is subject to positive inflation adjustments beginning in 2029.
For the application process and the separate portability benefit, see our general Homestead Exemption guide. The tables here address the new amounts and their timing.
How much could you save? Three examples
Assume a combined non-school rate of 15 mills: $15 per $1,000 of taxable value, or 1.5%. This is an illustration, not a standard rate for Miami or Florida. Assessed value means the figure used in the tax calculation, not the asking price.
| Assessed value | Non-school tax under 2026 rules | With larger exemption in 2027 | With larger exemption in 2028 | 2028 savings against 2026 baseline |
|---|---|---|---|---|
| $200,000 | $2,228.84 | $750.00 | $0.00 | $2,228.84 a year |
| $400,000 | $5,228.84 | $3,750.00 | $2,250.00 | $2,978.84 a year |
| $700,000 | $9,728.84 | $8,250.00 | $6,750.00 | $2,978.84 a year |
Assessed value and rates stay the same in all columns, and no other personal exemptions are included. This isolates the effect of the exemption change; it is not a forecast of a future bill. School taxes and separate charges are excluded. Taxable value cannot fall below zero.
For the $400,000 assessment, the increase saves about $1,479 in 2027 and $2,979 in 2028 compared with the 2026 baseline. Dividing the latter by 12 gives about $248 a month. That is a budgeting illustration, not a promise of an immediate reduction in the mortgage payment.
The $700,000 assessment produces no greater savings than the $400,000 assessment in this example: both use the full exemption. At $200,000, the non-school taxable value reaches zero in 2028, but school taxes and separate assessments can remain.
A complete bill example for a $400,000 assessment
Add an illustrative school rate of 6 mills, or 0.6%, and $600 in separate annual assessments. Assume no additional exemptions. After the $25,000 school-tax exemption, the school taxable value is $375,000 and the school tax is $2,250.
| Component | 2026 baseline | 2027 model | 2028 model |
|---|---|---|---|
| Non-school taxes, 15 mills | $5,228.84 | $3,750.00 | $2,250.00 |
| School taxes, 6 mills | $2,250.00 | $2,250.00 | $2,250.00 |
| Separate assessments, illustrative | $600.00 | $600.00 | $600.00 |
| Annual total | $8,078.84 | $6,600.00 | $5,100.00 |
The non-school calculation is (assessed value minus the applicable exemption, with a minimum of zero) × millage rate ÷ 1,000. Calculate the school component separately and add other assessments for the complete bill. In practice, rates, assessments, charges and available exemptions can change. Our Florida property tax guide explains the bill, reassessment and payment process.
Why December 31, 2026 matters for people relocating
The amendment distinguishes between people who maintained permanent residence in Florida on December 31, 2026 and those who did not. For the latter, it provides a non-school exemption of up to $50,000 in 2027, with positive inflation adjustments from 2028. Access to the increased amount begins in the fifth year of receiving the exemption.
This is not simply five years after buying or arriving. If the first exemption year is 2028, the fifth is 2032. If the first is 2027, the fifth is 2031. Confirm your starting year and documentation with the county Property Appraiser, who determines eligibility.
For two buyers in 2027, a $400,000 assessment and 15-mill non-school rate produce a $1,500 annual difference between a $150,000 and a $50,000 exemption. This is a separate comparison from the earlier table’s 2026 baseline.
| Your situation | What it means for planning |
|---|---|
| Moving from another state and buying before the end of 2026 | Closing alone is insufficient. You also need actual permanent residence, Homestead eligibility and a timely application. |
| Buying in 2026 but continuing to live permanently in Texas | The purchase does not establish permanent residence in Florida by December 31. |
| Already a permanent Florida resident renting a home, buying later | The text ties the cutoff to permanent residence in the state, not necessarily homeownership on that date. A 2027 purchase alone does not disqualify you from the larger amount once Homestead conditions are met. |
| Moving to Florida after December 31, 2026 | Account for the smaller initial exemption and fifth-year rule. Future inflation adjustments are not yet known. |
“Buy any property in December and get the maximum exemption” is therefore not a reliable promise. If you already intend to move, confirm residence evidence, closing dates and your first exemption year with the Property Appraiser now.
If the move is from Texas, our Dallas and Houston to Miami relocation guide also compares housing budgets, neighborhoods and everyday expenses.
Steps toward claiming Homestead in 2027
- November and December 2026: choose a suitable primary home and check its condition, financing and insurance. If you are a new resident, separately confirm how to establish permanent Florida residence by December 31.
- January 1, 2027: meet the ownership and permanent primary residence requirements. A signed contract that closes later is not enough by itself.
- By March 1, 2027: submit the application and supporting documents to the appropriate county Property Appraiser. Check documents before the last day.
- After review: verify application status, assessment and the exemption shown in county notices. If a mortgage servicer pays taxes through escrow, ask how payment adjustments will be handled.
Primary residence and documentation requirements are published by the Miami-Dade Property Appraiser; the standard application deadline appears in the Florida Department of Revenue’s taxpayer calendar. For another location, contact that county. Recheck updated forms and guidance for the new amendment before applying.
What does not automatically get cheaper
The larger exemption does not reduce your mortgage interest rate, insurance or HOA and condo association fees. Do not budget for it on a second home or a property used entirely as an investment rental as if it were your permanent primary home.
The amendment also lowers the annual assessment growth cap for certain non-homestead properties from 10% to 5% for non-school taxes. That limits assessment growth; it is not a 5% reduction in the tax bill and does not replace the primary-home exemption.
The seller’s tax bill is not your forecast, either. A sale can trigger reassessment, and the seller’s accumulated Save Our Homes protection generally ends. The Department of Revenue’s official guide explains ownership changes. A new buyer needs a new expense estimate even if the seller had substantial tax benefits.
Buying in 2026: start with an estimate for your address
If you have already decided to move to Florida and want a primary home, use the remaining weeks to check suitable properties and whether closing is feasible. Compare South Florida houses and South Florida condominiums based on the full monthly budget.
Contact BonaDomus with your budget, moving date and housing requirements. We can help identify properties and collect information for expense estimates. Confirm exemption eligibility and amounts with the Property Appraiser. That lets you weigh timing benefits against price, condition and transaction costs.
Several thousand dollars in annual savings deserve attention, but do not justify overpaying for an unsuitable home. A sound reason to act now is that your move is already planned and you can check the property and timetable before the end of 2026.
Does a $250,000 Homestead Exemption mean $250,000 in savings?
No. It is the maximum assessed value excluded from non-school property taxes for eligible owners from 2028. Savings depend on the applicable rate and available taxable value.
Does buying in December 2026 guarantee the larger exemption?
No. Permanent Florida residence by December 31, Homestead requirements for the relevant tax year and the Property Appraiser’s eligibility determination matter. Buying alone is insufficient.
Must an existing Florida resident who rents buy in 2026?
Not necessarily. The amendment ties December 31 to permanent residence in the state. A resident buying later must meet Homestead requirements for the exemption year and document their status.
Will school taxes decrease?
The increases to $150,000 and $250,000 apply to non-school taxes. The basic school-tax exemption of up to $25,000 remains. The school bill still depends on its rate and assessed value.
Can a condominium qualify?
Yes, if the condo is your permanent primary home and the other requirements are met. The exemption does not reduce association fees or special assessments.
When do the $150,000 and $250,000 amounts start?
The amendment provides a non-school assessed-value exemption of up to $150,000 from 2027 and $250,000 from 2028 for eligible owners. It does not retroactively reduce the 2026 bill. This article reports preliminary election results; certification is a separate step.
What if I establish permanent Florida residence in 2027?
This group initially receives up to $50,000 of non-school exemption in 2027, with positive inflation adjustments from 2028. The larger amount becomes available in the fifth year of receiving the exemption, not simply five years after buying. If your first exemption year is 2028, the fifth is 2032; confirm eligibility with the Property Appraiser.
How does the $400,000 assessment example produce almost $3,000 in savings?
At an unchanged non-school rate of 15 mills, the difference between the $51,411 exemption under 2026 rules and $250,000 in 2028 produces $2,978.84 in annual savings. The example assumes eligibility for the larger exemption and an unchanged assessment. It illustrates the exemption’s effect, not the complete future bill.
When should I apply for the 2027 Homestead Exemption?
The standard application deadline is March 1, 2027, through your county Property Appraiser. Ownership and permanent primary residence requirements must be met on January 1. The December 31, 2026 Florida residency condition for the larger amount is a separate requirement.
Will my monthly mortgage payment fall as soon as the exemption increases?
Not necessarily. The exemption changes taxable value, not the loan’s interest rate. If taxes are collected through escrow, the monthly amount depends on an escrow review and other expenses, including insurance. After the exemption is confirmed, ask your mortgage servicer when and how payments will be recalculated.
