# Florida Amendment 3 Passed! Moving to Florida? Here's How You Could Save Thousands in Property Taxes By Billee Silva (@billeesilva) · Published 2026-11-04 Canonical: https://voce.com/@billeesilva/property-florida-amendment-passed-moving-save-49okxp --- Florida voters approved Amendment 3 on November 3, 2026, bringing significant changes to property taxes and homestead exemptions. While many Florida homeowners will benefit from lower property taxes, people relocating to Florida in 2027 or later may be surprised to learn they won't receive those same benefits immediately. If you're planning to move to Florida, purchase a second home, or relocate to Fort Myers, Cape Coral, Estero, or the surrounding area, understanding Amendment 3 could save you from an unexpected property tax bill. One of the most important provisions of the new amendment is a five-year waiting period for certain new Florida residents. That means two homeowners living next door to each other in nearly identical homes could have significantly different property tax bills. Here's what you need to know before purchasing a home in Southwest Florida. ## What Is Florida Amendment 3, and What Changed? Florida Amendment 3 is a constitutional amendment approved by approximately 62% of voters in the November 3, 2026, election. It increases the homestead exemption for property taxes other than those levied for schools. The amendment takes effect January 1, 2027, with the expanded homestead exemption being introduced in stages. - **2027:** The homestead exemption for non-school property taxes increases to $150,000. - **2028:** The exemption increases to $250,000. - **2029 and beyond:** The exemption will be adjusted for inflation. For qualifying Florida homeowners, this could substantially reduce the taxable value of their primary residence. However, there's an important catch for people relocating to Florida. **The expanded exemption isn't immediately available to everyone who purchases a home in Florida.** ## Moving to Florida in 2027 or Later? Here's the Catch If you're considering relocating to Florida from Michigan, Ohio, New York, Illinois, or another state, pay close attention to this provision. Under Amendment 3, individuals who were not Florida residents on December 31, 2026, generally must wait until their fifth year of qualifying for Florida's homestead exemption before receiving the expanded benefits. In other words, if you relocate to Florida in 2027, you may qualify for the existing homestead exemption, but you won't necessarily receive the additional $150,000 or $250,000 exemption right away. ### Here's an Example Let's say you're retiring from Michigan and purchasing a $450,000 home in Fort Myers in June 2027. You establish Florida as your permanent residence and qualify for homestead exemption beginning in 2028. Under the amendment's five-year provision, your eligibility would generally look like this: - **2028:** First qualifying homestead year. Existing exemption benefits apply. - **2029:** Second qualifying year. - **2030:** Third qualifying year. - **2031:** Fourth qualifying year. - **2032:** Fifth qualifying year. You would generally become eligible for the expanded exemption. This distinction could affect your housing expenses during your first several years in Florida. The amendment makes the waiting-period provision subject to the U.S. Constitution, so its implementation could be affected by future legal interpretations or legislative changes. ## What If You're Already a Florida Resident? Florida residents who meet the amendment's residency requirements as of December 31, 2026, may qualify for the expanded homestead exemption beginning in 2027, provided they meet the applicable homestead eligibility requirements. For existing homeowners, the expanded exemption could provide substantial savings. However, **owning property in Florida and being a Florida resident are not necessarily the same thing.** Someone who owns a vacation home in Fort Myers but maintains their permanent residence in another state shouldn't assume they qualify simply because they purchased the property before the deadline. Florida homestead exemption is generally available for a property used as the owner's permanent residence as of January 1 of the applicable tax year. If you're in the process of relocating, establishing residency properly is essential. ## How Much Could You Save Under Florida Amendment 3? The actual savings depend on your home's assessed value, local property tax rates, and whether you qualify for the expanded exemption. Let's look at a simplified example. Suppose you purchase a home in Fort Myers with an assessed value of $400,000. For a homeowner eligible for the full $250,000 non-school homestead exemption in 2028, only $150,000 of assessed value would remain subject to applicable non-school property taxes, assuming no other adjustments. For a newer Florida resident who is still subject to the waiting period, substantially more of that property's assessed value could remain taxable. If the applicable non-school millage rate were 10 mills, the difference between a $50,000 and $250,000 exemption would be approximately $2,000 annually. That's a hypothetical example, not an estimate for a particular Fort Myers property. Actual savings will depend on the property's assessed value, applicable exemptions, and local millage rates. Also, **Amendment 3 does not eliminate school district property taxes or applicable non-ad valorem assessments.** ## Why Your Property Taxes Could Be Higher Than the Seller's This is one of the most important things I explain to buyers relocating to Southwest Florida. **Never assume the property taxes advertised on a real estate listing are what you'll pay after purchasing the home.** Florida's Save Our Homes benefit limits annual increases in assessed value for qualifying homestead properties. As a result, someone who has owned a home for 15 or 20 years may have a significantly lower assessed value than a new buyer. When that property sells, its assessed value is generally reset based on current market value for the following tax year. For example, imagine you're purchasing a home in Fort Myers listed for $475,000. The seller purchased the property years ago and currently pays $2,800 annually in property taxes. That doesn't mean your property taxes will be $2,800. Depending on the property's reassessed value, local millage rates, and your eligibility for exemptions, your taxes could be substantially higher. With Amendment 3, there's another factor to consider: whether you're eligible for the expanded homestead exemption or subject to the five-year waiting period. When helping buyers purchase homes in Fort Myers, Cape Coral, Estero, and surrounding communities, I encourage them to estimate their future property taxes based on their own circumstances rather than the seller's existing tax bill. ## Does Florida Amendment 3 Eliminate Property Taxes? No. Despite some of the headlines surrounding the amendment, Florida property taxes are not being eliminated entirely. Amendment 3 increases the homestead exemption for non-school property taxes. Homeowners will continue to be responsible for applicable school district property taxes and other assessments. Some homeowners with lower assessed values may eventually have little or no taxable value remaining for certain non-school property taxes. However, that doesn't mean their entire property tax bill will disappear. The amendment also allows for additional local exemption changes under specified procedures, which could create differences between communities. ## What About People Buying Vacation Homes or Seasonal Properties? Not everyone relocating to Southwest Florida plans to become a full-time resident. Many buyers purchase winter homes in Fort Myers, Cape Coral, Bonita Springs, or Estero while maintaining their primary residence in another state. If you're purchasing a second home or vacation property, you generally won't qualify for Florida's homestead exemption unless the property becomes your permanent residence and you meet the eligibility requirements. However, Amendment 3 includes another change that may benefit seasonal homeowners and real estate investors. The amendment reduces the annual cap on increases in assessed value for qualifying non-homestead properties from 10% to 5%, excluding school district taxes. This could benefit owners of second homes, vacation properties, rental properties, and certain commercial properties. It's important to understand that the 5% cap applies to annual increases in assessed value, not necessarily your total property tax bill. Properties are also generally reassessed following a change in ownership. ## How Will Amendment 3 Affect People Retiring to Southwest Florida? Florida continues to attract retirees seeking warmer weather, an active lifestyle, and no state individual income tax. But if you're considering retirement in Fort Myers or Southwest Florida, property taxes should be part of your financial planning. For someone relocating after December 31, 2026, the expanded homestead exemption may not become available until several years after establishing a permanent residence. That could make a difference when budgeting for retirement. And remember, property taxes are only one component of homeownership expenses in Florida. Buyers should also consider homeowners insurance, flood insurance when applicable, HOA or condominium fees, and ongoing maintenance expenses. If you're purchasing a condominium, understanding what your monthly fees cover is equally important. ## Could Amendment 3 Affect Home Prices in Fort Myers and Cape Coral? It's too early to determine whether Amendment 3 will significantly influence home prices in Southwest Florida. For some existing Florida residents, lower property taxes could make homeownership more affordable. For people relocating in 2027 or later, however, the five-year waiting period means the financial benefits may be delayed. Other factors, including mortgage interest rates, housing inventory, homeowners insurance, and buyer demand, will continue to influence the market. In Fort Myers and Cape Coral, it's especially important to evaluate the asking price, recent comparable sales, property condition, and total cost of ownership before making an offer. Lower potential property taxes shouldn't be the sole reason to purchase a home or pay more than its market value. **Related reading:** [Fort Myers Real Estate Market Update: October 2026 vs. October 2025](https://www.sw-floridarealtor.com/blog/fort-myers-real-estate-market-update-october-2026-vs-october-2025-what-buyers-and-sellers-need-to-know) ## Frequently Asked Questions About Florida Amendment 3 ### Did Florida Amendment 3 pass in November 2026? Yes. Florida voters approved Amendment 3 on November 3, 2026, with approximately 62% of the vote. The amendment takes effect January 1, 2027. ### If I move to Florida in 2027, will I qualify for the new homestead exemption? You may qualify for Florida's existing homestead exemption once you meet the eligibility requirements. However, people who were not Florida residents on December 31, 2026, generally must wait until their fifth qualifying homestead year to receive the expanded exemption. ### Do I have to live in Florida for five years to get the new property tax exemption? For people who were not Florida residents on December 31, 2026, the amendment generally makes the expanded exemption available beginning with their fifth year of qualifying for homestead exemption. This is subject to constitutional limitations and applicable implementation rules. ### Will I pay more in property taxes if I move to Fort Myers in 2027? You could pay more than an otherwise similarly situated homeowner who qualifies for the expanded exemption immediately. Your actual property taxes will depend on the home's assessed value, local tax rates, and your individual exemption eligibility. ### Does Florida Amendment 3 apply to condominiums? Yes. Eligible condominium owners who use their property as a permanent residence may qualify for homestead exemption benefits. Seasonal condominium owners generally do not qualify for homestead exemption but may benefit from the reduced non-homestead assessment cap. ### Does Florida Amendment 3 eliminate property taxes for seniors? No. The amendment increases the exemption for non-school property taxes but does not eliminate all property taxes. Seniors may qualify for additional exemptions depending on their circumstances and local eligibility rules. ### Can I buy a Florida home before December 31, 2026, to avoid the five-year waiting period? Purchasing a property alone does not establish Florida residency or guarantee homestead eligibility. The amendment distinguishes residents based on their Florida residency status on December 31, 2026. Buyers should verify their circumstances with the county property appraiser or a qualified legal professional. ## Planning to Move to Florida? Understand Your Property Taxes Before You Buy Florida Amendment 3 represents a major change to the state's property tax system. For qualifying homeowners, the expanded homestead exemption could provide meaningful long-term savings. But for people relocating to Florida, the timing of residency and homestead eligibility could make a significant difference. **The biggest takeaway? Don't base your Florida home-buying budget on the seller's property taxes or assume you'll immediately receive the new expanded exemption.** Before purchasing a home, make sure you understand what your property taxes are likely to be after closing, whether you qualify for homestead exemption, and how Amendment 3 could affect your expenses over the next several years. ### Relocating to Fort Myers, Cape Coral, Estero, Babcock Ranch, or the surrounding area? I'm Billee Silva, a full-time Southwest Florida Realtor with Century 21 AllPoints Realty. I've lived in Fort Myers since 1994 and have helped buyers and sellers navigate our local real estate market for years. Whether you're relocating from another state, retiring in Southwest Florida, or purchasing a seasonal home, I'll help you understand the costs associated with your purchase, including property taxes, insurance, HOA fees, and other important considerations. Buying a home is a major financial decision, and having the right information before making an offer can make all the difference. **Let's talk about your plans to move to Southwest Florida.** **Billee Silva, PA | REALTOR®** Century 21 AllPoints Realty Call or Text: (239) 247-2490 Email: [BilleetheRealtor@gmail.com](mailto:BilleetheRealtor@gmail.com) Website: [https://www.sw-floridarealtor.com](https://www.sw-floridarealtor.com/) _Doing Everything but the Packing!_ * * * _Disclaimer: This article provides general information about Florida Amendment 3 and property taxes as of November 4, 2026. It is not intended as legal or tax advice. Homestead eligibility, assessment calculations, implementation rules, and potential legal challenges may affect individual circumstances. Consult your county property appraiser or qualified tax professional for personalized guidance._