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Buyer guide · Florida

Your first Florida homestead: the exemption, the cap and the new rules

How Florida's homestead exemption and Save Our Homes cap work on a first home, the January 1 and March 1 dates, and what Amendment 3 changes starting in 2027.

The short version: Own the home and live in it as your permanent residence on January 1, then file with your county property appraiser by March 1. In 2026 that is worth a $25,000 exemption on all taxes plus up to $26,411 more on non-school taxes. Voters approved Amendment 3 on November 3, 2026, which raises the non-school piece to as much as $150,000 in 2027 and $250,000 in 2028, with a slower phase-in for people who become Florida residents after 2026.

Why the listing's tax figure can fool you

Every Florida listing shows last year's property tax bill. For a first-time buyer, that number is close to useless. It reflects the seller's exemptions and the seller's capped value, and both disappear when the deed changes hands.

The Seminole County Property Appraiser puts it bluntly in its new-homeowner notes: removing the seller's exemptions and Save Our Homes adjustments can raise your taxes, so "do not rely on current taxes as an estimate." Your lender sets your escrow from its own estimate, so ask how it got there.

What the homestead exemption is worth today

For the 2026 tax year, a homestead gets two exemptions that come off the assessed value before tax rates are applied:

  • $25,000 off the value used for every tax, school taxes included.
  • Up to $26,411 more off the value used for non-school taxes. This second piece only applies to assessed value above $50,000 and is adjusted for inflation each year; the Florida Department of Revenue set it at $25,722 for 2025 and $26,411 for 2026.

Together that is up to $51,411 of value the county can't tax for most purposes, per the Volusia County Property Appraiser.

Who qualifies, and the two dates that matter

The Palm Beach County Property Appraiser lists the test: as of January 1 you must be a permanent Florida resident, hold title to the property and make it your permanent residence. You can't be getting a residency-based tax break on a home somewhere else.

Then you apply by March 1 of the year the break applies. Miss it and you lose the exemption for that year. Have these ready:

  • Social Security numbers for every owner applying, and their spouses
  • A Florida driver's license or Florida ID
  • One more proof of residency, such as a Florida vehicle registration, voter registration at the new address, or a utility bill for the home

Here is how closing dates line up:

You close and move inHomestead first applies toFile by
December 20262027 tax yearMarch 1, 2027
February 20272028 tax year (you didn't own it on January 1, 2027)March 1, 2028
August 20272028 tax yearMarch 1, 2028

That middle row is the one that stings. A February closing means paying a full year at non-homestead treatment, so budget the escrow accordingly.

Save Our Homes: the cap that starts over with you

Once you have a homestead, Save Our Homes limits how fast its assessed value can rise: no more than 3% a year or the change in the Consumer Price Index, whichever is lower, per the Department of Revenue. Market values can jump; your taxable base can't follow them.

The catch for a buyer is the reset. When you buy, the assessed value is set back to market value, starting the year after the purchase. The seller may have spent 15 years under the cap. You start fresh at today's price, and the cap protects you from there.

Two smaller notes. Adding a pool or a room can raise the assessment outside the cap. And the cap benefit you build can later move with you to another Florida homestead through portability, which you request on the new home's application.

Amendment 3: bigger exemptions starting in 2027

Florida voters approved Amendment 3 on November 3, 2026. According to the Volusia County Property Appraiser's summary of the measure, it takes effect January 1, 2027:

  • School taxes: the exemption stays at $25,000.
  • Non-school taxes: up to $150,000 starting January 1, 2027, and up to $250,000 starting January 1, 2028, with inflation adjustments starting in 2029.
  • Save Our Homes and portability stay as they are.
  • New residents who become Florida residents on or after January 1, 2027 start at a $50,000 non-school exemption. They move up to the larger amount in the fifth year after keeping a homestead for four years.
  • People who were permanent residents by December 31, 2026 qualify for the larger amount when they later buy and apply.

The first bills reflecting the change go out in November 2027. The legislation that puts the details in place had not been passed when the Volusia summary was written, so treat the exact dollar effect on your home as an estimate until your county publishes its numbers.

For a teacher, deputy or nurse already living and working here, the takeaway is simple: you're on the favorable side of the residency line. For someone relocating to take a Florida job in 2027, the first four years are smaller.

How the tax calendar meets your mortgage

Florida's property tax year runs on a set rhythm:

  1. August: the property appraiser mails a TRIM notice with your proposed value and taxes. You have 25 days to petition if you disagree with the value.
  2. November: the tax collector sends the bill. Paying early earns a 4% discount in November, 3% in December, 2% in January and 1% in February.
  3. April 1: unpaid taxes become delinquent.

With an escrow account, your servicer pays the bill, often early enough to catch a discount. Your first escrow analysis after the reset can raise your payment, so keep a cushion in savings.

Homestead and local down payment programs

Some local programs make the homestead part of the deal. St. Petersburg's purchase assistance lists a homestead exemption among its requirements, and many forgivable SHIP loans assume the home stays your primary residence. Filing on time protects the tax break and shows you're meeting the occupancy rules you signed. Our county SHIP guide covers those programs.

Your homestead to-do list

  1. Ask your lender how it estimated property taxes, and whether it used the seller's bill.
  2. Check the county appraiser's website for an estimator based on the purchase price.
  3. Update your driver's license and voter registration to the new address right after closing.
  4. File the homestead application online before March 1.
  5. Watch for the August TRIM notice and compare it to your escrow.

Ready to see which first-home programs fit you? Check your eligibility.

Questions we hear

When do I have to file for homestead exemption in Florida?

By March 1 of the year you want the exemption, with the county property appraiser. You must have owned the home and made it your permanent residence on January 1 of that year.

Why did my property taxes go up after I bought?

The seller's exemptions and Save Our Homes cap end at the sale, and the assessed value resets to market value the year after you buy. The cap then limits increases to 3% or the CPI change, whichever is lower.

How much is the homestead exemption in 2026?

$25,000 off all taxes plus up to $26,411 off non-school taxes, for a total of up to $51,411. Amendment 3 raises the non-school portion starting January 1, 2027.

Does Amendment 3 apply to first-time buyers?

Yes, once you qualify for homestead. People who were Florida residents by December 31, 2026 get the larger amounts when they buy. People who become residents on or after January 1, 2027 start at $50,000 for non-school taxes and move up in their fifth year.

What if I miss the March 1 deadline?

You lose the exemption for that tax year, per the Palm Beach County Property Appraiser. Ask your county appraiser right away about its late-filing rules.

Free printable: the Florida homebuyer checklist. Rules, paperwork, steps and lender questions on one sheet. Get the checklist

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