Florida’s new property tax reform favors anyone who becomes a resident before the end of this year, and buying a home by then isn’t required.

Florida voters approved Amendment 3, the state’s property tax reform, and the result came with a deadline that deserves attention right away. Whichever way you voted, this is a major milestone for Florida homeowners, and it comes with a big benefit.

I won’t go through every specific here. A quick online search will cover most of the details of the property tax reform, but I’d love to talk through exactly what it looks like for you.

Residency must be established this year. Timing is the biggest piece, and it’s why I wanted to send this message so quickly. To get the larger exemption, you have to establish Florida residency by December 31, 2026. We’re already in November, so there isn’t much time.

You don’t have to buy yet. Establishing residency doesn’t mean you have to purchase a home by the end of the year. Based on the information I can find, there are several ways to do that. They include getting a bill in your name, signing a lease, or getting a Florida driver’s license. There are others as well, and I’m happy to walk through them with you.

“Establishing residency this year doesn’t mean you have to buy a home by December.”

Missing it delays the bigger exemption. Miss the deadline, and you’re locked out of the larger exemption until your fifth year with a homestead exemption. The amendment reads that way right now, though it could always change.

The tax savings change the math. I wanted this in front of you in case someone in your world has been thinking about buying. It could be a child, a friend, a family member, or a coworker. The rate environment is the biggest objection I’m hearing right now, even though rates are near their historical average. These property tax savings could have a huge impact on the monthly payment for the next five years.

Thank you to everyone who got out and did their civic duty. I don’t know about you, but I’m looking forward to fewer political text messages flooding my phone.

If you have specific questions about Amendment 3 or what it means for a move, call me at 407-499-8993, email me at chris@mypinnaclehomes.com, or visit mypinnaclehomes.com. Thank you, as always, for your support.