If relocating to South Florida is part of your future plans, buying your home before the end of 2026 could make a significant difference. A proposed Florida constitutional amendment could greatly increase the homestead exemption for eligible homeowners—but it may also create a five-year waiting period for people who establish Florida residency after December 31, 2026.
What Is Expected to Change?
If approved by Florida voters, the amendment would increase the homestead exemption for non-school property taxes to $150,000 beginning January 1, 2027, and $250,000 beginning January 1, 2028.
Homeowners who establish permanent Florida residency by December 31, 2026, could qualify for the expanded exemption without the proposed five-year wait. Those who become residents after that date would initially receive the current homestead exemption and may have to maintain continuous Florida residency for five years before becoming eligible for the larger exemption.
What Do Buyers Need to Do?
To meet the proposed deadline, you would need to purchase, close on and occupy your Florida home or condominium as your primary residence by December 31, 2026. After moving, you should update your Florida driver’s license, vehicle registration and voter registration with your new address.
You would then apply for the homestead exemption through the Palm Beach County Property Appraiser by March 1, 2027. Be prepared to provide updated Florida identification, vehicle registrations and Social Security numbers for all owners and their spouses.
Start Your South Florida Home Search Today
Finding the right home and completing the buying and closing process takes time. If you are considering a move to South Florida, don’t wait until the deadline is approaching. Contact me today, and let’s find the perfect South Florida home so you can close, establish residency and be prepared before December 31, 2026.
Note: This amendment is proposed and must be approved by Florida voters in the November elections before taking effect.
