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Updated November 5th, 2026
If you're buying a home in Florida in 2026, you may have heard a lot about the state's homestead exemption and a newly approved constitutional amendment that will provide additional property tax savings to qualifying homeowners beginning in 2027.
There are now two important homestead benefits to understand. Florida’s existing homestead exemption remains available to eligible homeowners, while a newly approved constitutional amendment is scheduled to increase the exemption for certain non-school property taxes beginning in 2027.
Understanding how these benefits work can help you plan for your future property taxes and make the most of the benefits available to Florida homeowners.
What is Florida's Current Homestead Exemption?
When you buy a home in Florida and make it your primary residence, you may qualify for a homestead exemption. This exemption reduces the taxable value of your home, which can lower your property tax bill.
Under current Florida law, eligible homeowners receive a $25,000 homestead exemption that applies to most property taxes. For 2026, they may also receive an additional inflation-adjusted exemption of up to $26,411 on assessed value above $50,000. This additional exemption does not apply to school district taxes. To receive it, you'll need to apply through your county property appraiser's office. The general deadline to file is March 1.
The homestead exemption also connects to an important benefit known as Save Our Homes. Once you qualify for homestead, Save Our Homes can limit how much the assessed value of your home increases each year, helping protect you from large increases in taxable value as home values rise.
If you're moving from another Florida homestead, you may also be able to transfer some or all of your existing Save Our Homes benefit to your new home through portability. Be sure to check with your local property appraiser for the requirements and deadlines.
A Bigger Homestead Exemption Begins in 2027
Florida voters approved a constitutional amendment in November 2026. The amendment received approximately 61.98% of the vote, surpassing the 60% required for approval, according to Florida’s unofficial election-night results. It is scheduled to take effect January 1, 2027.
The approved amendment provides:
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A $150,000 homestead exemption for non-school taxes beginning in 2027
- A $250,000 homestead exemption for non-school taxes beginning in 2028
- Annual inflation adjustments beginning after that
- Delayed access to the increased exemption for people who were not Florida residents on December 31, 2026
Eligibility for the increased exemption depends partly on residency. Homeowners who were not Florida residents on December 31, 2026, will generally remain eligible for the existing homestead exemption but will not receive the increased exemption until their fifth year of qualifying for homestead.
Don't Confuse the Two "Save Our Homes" Programs
The name can make this confusing. Florida's existing Save Our Homes assessment limitation helps limit annual increases to the assessed value of a qualifying homesteaded property.
Amendment 3 was originally presented by the Legislature as “Save Our Homes from Excessive Property Taxes.” Its official ballot title was “Increased Homestead Exemption; Lower Cap on Increases in Non-Homestead Property Assessments.” While the names are similar, they're not the same thing. The approved amendment increases the homestead exemption beginning in 2027, but it does not replace Florida’s existing Save Our Homes assessment limitation.
What Does This Mean for Florida Homebuyers?
For buyers, the takeaway is pretty simple: If your new Florida home will be your primary residence, make sure you understand and apply for your homestead exemption.
The existing exemption is already available to eligible homeowners, and applying on time can also establish eligibility for Save Our Homes protections.
Beginning in 2027, qualifying homeowners may benefit from the increased exemption for non-school property taxes. However, buyers who establish Florida residency after December 31, 2026, may have to wait until their fifth year of homestead eligibility to receive the larger exemption. Buyers should check with their county property appraiser to confirm which exemption applies to their home and when they will become eligible.
Property taxes vary by location and individual circumstances, so it's always a good idea to check with your local property appraiser for the most up-to-date information about your home's exemptions, deadlines, and potential tax savings.
Ready to explore your options for living in Florida? Whether you're searching for your first home, relocating to the Sunshine State, or looking for a new construction community that fits your lifestyle, explore our communities in Florida to find your perfect place to call home.
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