Florida Amendment 3 and the Homestead Exemption Deadlines Homeowners Should Know

Florida voters approved Amendment 3 on November 3, 2026, and it is one of the most significant property tax changes the state has seen in years. Here is what it means for property owners, the deadlines you need on the calendar, and why your county property appraiser is the right person for questions about your specific home.

What Amendment 3 Actually Does

Amendment 3 passed with roughly 62 percent support and does two big things. First, it raises the homestead exemption on non-school property taxes, the portion levied by counties, cities, and special districts, from the current $50,000 of assessed value to $150,000 in 2027 and $250,000 in 2028, with inflation adjustments in later years. It does not change the portion of the exemption that applies to school property taxes, and it directs the Legislature to set a uniform procedure for counties to apply the new exemption. Source: NBC Miami election coverage

Second, it lowers the cap on annual assessment increases for non-homestead properties, which includes rentals, commercial buildings, and second homes, from 10 percent to 5 percent, beginning in 2027. For owners who do not homestead a property, that slower assessment growth can translate into a smaller annual tax bill over time.

What Counts as a Homestead

A homestead exemption is only for your primary residence. To qualify, you must be a Florida permanent resident, own the property, and live in it as your home. For the 2027 benefit under Amendment 3, that means being a permanent resident in the home as of December 31, 2026. Renters, second homes, and investment properties do not qualify for the exemption itself, though the lower assessment cap for non-homestead properties is designed to help those owners too.

The Deadline That Matters: March 1

Under Florida law, the homestead exemption application, Form DR-501, must be filed with the county property appraiser by March 1 of the tax year in which you want the benefit. For tax year 2026, the deadline landed on March 2 because March 1 fell on a Sunday. For tax year 2027, the deadline is March 1, 2027, and county offices begin accepting applications on January 1. Source: Florida Dept. of Revenue homestead exemption guide

If you miss the March 1 deadline, Brevard County allows a late filing until the 25th day after the TRIM notice of proposed property taxes is mailed, after which the exemption applies to the next tax year. Source: Brevard County Property Appraiser Indian River County's property appraiser follows the same March 1 statute, and its office in Vero Beach can walk you through the county's exact late-filing rules. Source: Indian River County Property Appraiser

A practical point for new buyers: the deadline is tied to the tax year, not your closing date. If you close in late February, you have a very small window to file for that year's exemption. If you close in July, you are filing for the following year, and you should still put March 1 on the calendar the moment you take ownership.

Not Legal or Tax Advice

I am a real estate agent, not a tax attorney or a C.P.A., and this article is not legal or tax advice. The details of Amendment 3 will take shape as the Legislature and county appraisers implement it, and every property has its own story: exemptions already on the books, portability from a previous Florida home, and local millage rates. The right next step is a conversation with your county property appraiser. Brevard County homeowners can start at the Brevard County Property Appraiser's exemptions page, and Indian River County homeowners at the Indian River County Property Appraiser's office in Vero Beach.

Why This Matters When You Buy

For buyers, the practical takeaway is timing. If you buy a Florida home in 2027, the March 1 window is your chance at the homestead exemption, and Amendment 3 makes that exemption considerably larger than before. A seller's current tax bill is based on their exemptions, not yours, so never assume your taxes will match theirs. Ask the appraiser what your real numbers would look like, and factor that into the monthly budget you bring to the negotiating table.

Questions about how property taxes fit into your purchase or sale? That is exactly the kind of conversation I enjoy. Text or call me, and bring your curiosity.