Maybe you’re ready to buy your first place in Palm Beach Gardens. Maybe you’re eyeing a condo in Delray Beach or planning to enjoy your Jupiter home for years to come. With Florida voters approving Amendment 3, there’s a new number to factor into your plans. Starting January 1, 2027, many homeowners can qualify for a bigger homestead exemption. The amount you can claim depends in part on when you made Florida your permanent home. Florida Department of Revenue
Buying in 2027? Start with two dates
December 31, 2026 is the residency cutoff. If Florida was already your permanent home by then, you can qualify for the expanded exemption on a newly purchased primary residence, even if you’ve been renting. For the 2027 tax year, you generally need to own and live in the home as your permanent residence by January 1, 2027, then file for homestead with the Palm Beach County Property Appraiser by March 1, 2027. Already have a Florida homestead? Ask about transferring part of your Save Our Homes benefit when you file. Amendment text · Homestead filing · Portability
If you’re making the move to Florida in 2027 or later, you can still get a homestead benefit once you qualify. You generally start with up to $50,000 off assessed value for taxes outside the school district and up to $25,000 for school district taxes. The $50,000 amount can rise with inflation starting in 2028, and the larger exemption generally kicks in during your fifth year of receiving homestead. For example, if you first receive it in 2028, your fifth year would be 2032. Florida Department of Revenue · Amendment text
Here’s one tip to take with you to your next showing. Ask for a tax estimate based on your purchase. The seller may have built up years of savings under Save Our Homes, and a sale can reset the assessed value. An estimate that accounts for the sale and your own eligibility gives you a better starting point for your monthly budget. Palm Beach County Property Appraiser
Staying in the home you love?
If you already have a qualifying homestead, the expanded exemption can lower the amount of your home’s assessed value subject to taxes outside the school district. The maximum is $150,000 in 2027, then $250,000 in 2028, with increases for positive inflation beginning in 2029. The school district exemption remains up to $25,000. When your August 2027 property tax notice arrives, take a look at the taxable value listed for each taxing authority. That’s where you can see how the exemption applies to your home. Amendment text · Palm Beach County tax calendar
Keeping a second home or investment property?
If you own a seasonal condo on Singer Island or a rental in West Palm Beach, the change to watch is the annual assessment cap. It drops from 10% to 5% in 2027 for qualifying nonhomestead properties, for taxes outside the school district. That can slow assessed value growth, while your total bill will still depend on local rates, other charges, and any reassessment after a sale. Amendment text · Palm Beach County tax bill guide
If a Palm Beach County move is on your mind, I’d love to help you put the numbers in context. Reach out to me at Luxe Lifestyles and let’s look at what your next home could cost to own.