Florida homestead exemption: before and after Amendment 3
Amendment 3 changes how much of your home's assessed value is shielded from non-school property taxes. It also lowers the yearly assessment cap on property that isn't homestead, like rentals and commercial buildings.
| Rule | Before (2026) | 2027 tax roll | 2028 tax roll and after |
|---|---|---|---|
| Homestead exemption, non-school taxes | Up to $50,000 | $150,000 | $250,000, then inflation-adjusted |
| Homestead exemption, school taxes | $25,000 | $25,000 | $25,000 |
| Save Our Homes cap on homestead assessments | 3% or CPI, whichever is lower | No change | No change |
| Assessment cap on non-homestead property (non-school levies) | 10% a year | 5% a year | 5% a year |
| People not Florida residents on December 31, 2026 | Not applicable | Existing exemption when they first qualify | Increased exemption begins with their fifth year of exemption |
Implementing legislation is expected in the 2027 Legislative Session, so some details can still change. Your county property appraiser makes the final call on eligibility.
The three parts of Florida homestead law
People say "homestead" and mean three different things. Florida's Constitution gives your primary home three separate protections, and only one of them is the tax break.
Property tax exemption
Lowers the taxable value of your primary residence and turns on the Save Our Homes cap. You have to apply for it. Amendment 3 changed this part.
Protection from creditors
Article X, Section 4 generally stops most judgment creditors from forcing the sale of your homestead, with no dollar cap. It does not stop a mortgage you signed, property taxes, or liens for work done on the home.
Limits on selling, mortgaging and inheriting
If you're married, your spouse has to sign any deed or mortgage on the homestead, even if their name isn't on the title. Florida law also limits who you can leave a homestead to when there's a surviving spouse or minor child.
Key Florida homestead dates for 2026 to 2028
- December 31, 2026Residency cutoff in the amendment. People who aren't Florida residents on this date get the existing exemption when they first qualify, and the increased exemption starting in their fifth year of exemption.
- January 1, 2027Amendment 3 takes effect. To claim homestead for 2027, you must own the home and live in it as your permanent residence on this date. The non-homestead cap drops to 5%.
- March 1, 2027Deadline to file for the 2027 homestead exemption (and portability) with your county property appraiser.
- January 1, 2028Non-school homestead exemption rises to $250,000.
- 2029 and afterThe $250,000 amount is adjusted for inflation each year.
Closing on a Florida primary home before January 1? Ownership and occupancy on January 1 decide whether you can file for that year. Close in early January and your first eligible year is usually the next one. Check with your property appraiser on your specific dates.
Which homestead rules apply to you?
Pick the one that fits.
You already have a Florida homestead exemption
- Your exemption renews automatically as long as you still own and live in the home. You don't need to reapply for Amendment 3.
- The larger non-school exemption applies starting with the 2027 tax roll. School taxes keep the $25,000 exemption.
- Your Save Our Homes cap stays in place. If you sell and buy another Florida homestead, you can move up to $500,000 of that built-up savings to the new home within three tax years by filing for portability.
- If you refinance or take out a home equity loan, your spouse still has to sign the mortgage.
You're buying a home you'll live in
- Homestead isn't automatic. After you close and move in, file with your county property appraiser by March 1 of the first year you own and occupy the home on January 1.
- The seller's tax bill isn't your tax bill. The Save Our Homes cap doesn't transfer to a buyer, so the assessed value usually resets after the sale. Budget your payment on the new number, not the seller's.
- If you're moving to Florida and weren't a resident on December 31, 2026, the amendment says you start with the existing exemption and get the increased one in your fifth year. Implementing law may add details.
- If you're married, your spouse signs the mortgage on a homestead even if they aren't on the loan.
You own or are buying investment property
- Rentals, second homes and vacation properties don't qualify for homestead. Only the home you live in as your permanent residence does.
- The good news: starting in 2027, annual assessment increases on non-homestead property are capped at 5% for non-school levies, down from 10%.
- Watch millage. Local governments can still raise tax rates, and any increase falls on all remaining taxable property, including rentals.
- Property taxes are part of the payment used to figure a DSCR loan's ratio, so a lower cap can help long-term cash flow. See DSCR loans in Florida.
Get answers for your situation
Answer a few quick questions and Mike will follow up about how homestead, property taxes and escrow fit into your plans.
How to apply for the homestead exemption in Florida
- Own and live in the home on January 1. It has to be your permanent residence, not a second home or rental.
- Gather proof of residency. Property appraisers commonly ask for a Florida driver license, Florida vehicle registration, and voter registration at the property address.
- File with your county property appraiser by March 1. Most counties take the application (Form DR-501) online.
- File for portability at the same time if you're moving from another Florida homestead. That's a separate form, DR-501T, with the same March 1 deadline.
- Watch your TRIM notice in August. It shows your assessed value and exemptions before the tax bill comes in the fall.
Florida homestead and your mortgage
Your spouse signs the mortgage, even if they aren't on the loan
Florida's Constitution requires both spouses to join in a mortgage on homestead property. The non-borrowing spouse signs to consent to the lien. That signature doesn't make them responsible for repaying the loan. It applies to purchases, refinances and home equity loans.
Expect your escrow to change
Your lender collects property taxes in escrow based on the best estimate at closing. When your exemption kicks in, or when the assessed value resets after a purchase, your actual bill changes and the yearly escrow review catches up. With Amendment 3, many homeowners will see bills shift in late 2027 and again in 2028.
Homestead doesn't stop foreclosure
Creditor protection doesn't apply to a mortgage you signed. If the loan goes into default, the lender can still foreclose.
Florida homestead exemption FAQ
When is the deadline to file for homestead exemption in Florida?
March 1 of the tax year. You must have owned and lived in the home as your permanent residence on January 1 of that year.
Do I need to reapply because of Amendment 3?
No. If you already have homestead, it renews automatically while you own and live in the home. The increased exemption applies starting with the 2027 tax roll.
Does Amendment 3 lower school property taxes?
No. The increase applies to non-school taxes. School taxes keep the $25,000 homestead exemption.
I'm moving to Florida. When do I get the $250,000 exemption?
Under the amendment, people who weren't Florida residents on December 31, 2026 get the existing exemption when they first qualify and the increased exemption starting with their fifth year of exemption. The Legislature is expected to pass implementing law, and local governments may be able to shorten the wait.
Can I claim homestead on a rental or vacation home?
No. Only your permanent primary residence qualifies. Rental and other non-homestead property gets the new 5% annual assessment cap on non-school levies instead.
When will I see lower property taxes?
The change starts with the 2027 tax roll, so it shows up on the tax bills sent in late 2027, with a larger exemption in 2028. Local millage decisions also affect your final bill.
Does my spouse have to sign my mortgage in Florida?
On homestead property, yes, even if your spouse isn't on the title or the loan. The signature consents to the lien on the home and doesn't make them a borrower.
Buying, refinancing or investing in Florida?
Mike can walk you through how homestead, property taxes and escrow fit into your loan before you commit. For tax or legal questions about your situation, talk to your CPA or a Florida attorney.
Related guides
Want more? Read Mike's Florida investor mortgage blog for DSCR, condo and refinance guides.
Sources
- Florida Department of State, Amendment 3 official ballot language
- Florida Chamber of Commerce, Amendment 3 resource center and timeline
- Florida Constitution, Article VII (taxation) and Article X, Section 4 (homestead)
- Florida Statutes, Chapter 222 (homestead and exemptions)
- Florida Department of Revenue, property tax exemptions for homeowners
This page is general information, not legal or tax advice. Homestead eligibility is decided by your county property appraiser.