Amendment 3 passed: what it saves you, and who has a December 31 deadline
Moving to Florida? Your date is December 31, 2026.
Florida already your permanent home? No deadline. The bigger exemption waits for you, and it cuts the cost of owning by more than a quarter-point rate drop would.
Florida voters approved Amendment 3 on November 3. From 2027 the homestead exemption on city, county and other non-school property taxes rises from about $51,000 to $150,000, then to $250,000 in 2028. People who aren't permanent Florida residents by December 31 wait until their fifth year of homestead, roughly $8,200 over four years on a $400,000 Clermont home at 2026 tax rates. I've sold homes around Clermont since 2005, and every number below has a source so you can check my math.
General information from a Realtor, not tax, legal or mortgage advice. Some rules haven't been written yet; details below.
The short version
- What passed: Amendment 3, approved by about 62% of voters on November 3, 2026, in unofficial results. It takes effect January 1, 2027.
- What it does: for every tax on your bill except school taxes, a homestead exemption covers up to $150,000 of assessed value in 2027 and $250,000 in 2028. (Assessed value is the value the Property Appraiser taxes, often below what you paid.) School taxes still get $25,000 off.
- Who has a deadline: people moving to Florida, and snowbirds thinking about making Florida home. If Florida wasn't your permanent residence on December 31, 2026, your first four years of homestead get $50,000 off non-school taxes, and the larger exemption starts in year five.
- Who doesn't: people whose permanent home is already Florida, renters included. Under the amendment's wording you stay eligible whenever you buy. For you, the point is cost, not timing.
- On a $400,000 Clermont homestead, at 2026 tax rates, the new exemption means about $1,009 less tax in 2027 and $2,032 less each year from 2028 than the old rules. A quarter-point rate cut on a $320,000 loan at 7.24% is worth about $648 a year.
- Picking a closing date: homestead depends on who owns and lives in a home on January 1. Buying a home the seller lives in? Closing after January 1 usually keeps the seller's lower 2027 bill. Buying a rental, second home, vacant home or new build? Owning and living there by December 31 puts your own exemption on the 2027 bill.
What Amendment 3 changes, in plain English
Your Florida property tax bill is really two bills stacked together. One part pays for schools. The other part pays for the county, your city, the water authority and the water management district. In Clermont, the 2026 rates are 6.054 mills for schools and 10.2335 mills for everything else, out of 16.2875 total. (A mill is $1 of tax for every $1,000 of taxable value.)
Until now, a homestead exemption took up to $25,000 off the school part and up to $51,411 off the non-school part. Amendment 3 leaves the school part alone and makes the non-school exemption much bigger.
| Who / when | Off city, county and other non-school taxes |
|---|---|
| Any homestead, 2026 (old rules) | up to $51,411 |
| Permanent Florida resident by Dec. 31, 2026: tax year 2027 | up to $150,000 |
| Permanent Florida resident by Dec. 31, 2026: tax year 2028 on | up to $250,000 |
| Newcomer (not a permanent resident by Dec. 31, 2026): homestead years 1 to 4 | $50,000 |
| Newcomer: homestead year 5 on | the full amount |
School taxes: $25,000 off in every case. The $250,000 is adjusted for inflation from 2029 and the newcomer $50,000 from 2028. The newcomer amount is $1,411 below the 2026 exemption, about $14 a year more tax on a Clermont home. Source: the enrolled text of CS/HJR 1F and the Leon County Property Appraiser's summary; links are in the sources.
Other things worth knowing
- Timing. It takes effect January 1, 2027. Your 2026 tax bill, mailed this month, doesn't change. The new exemption first shows up on the proposed-tax notice (called a TRIM notice) mailed in August 2027 and on the November 2027 tax bill.
- Save Our Homes and portability stay. Your homestead's assessed value still can't rise more than 3% a year (or inflation, if lower), and you can still carry up to $500,000 of those savings to your next Florida home.
- Second homes and rentals. They don't get the exemption, but from 2027 their assessed value for non-school taxes can rise only 5% a year instead of 10%.
- CDD assessments aren't reduced. The exemption doesn't cover "assessments for special benefits." Many newer Clermont neighborhoods carry a CDD line on the tax bill, and Amendment 3 doesn't lower it.
- Spending rules. The amendment lists what counties and cities may use property taxes for: public safety, schools, infrastructure, natural resources, bond payments, employee retirement benefits and running local government, plus other spending their boards approve unless state law forbids it.
What's still being worked out. The Legislature has to pass rules to run the new exemption, including how the December 31, 2026 date gets proven. The amendment lets counties and cities raise the exemption further for their own taxes, under a procedure the Legislature must set; it doesn't phase out property taxes on its own. A county or city may vote by two-thirds to shorten the five-year wait for a critical local need, but not before 2030.
The official ballot summary says the newcomer wait applies "to the extent permitted by the U.S. Constitution." In 1982 the Florida Supreme Court struck down a 1980 state law that gave the bigger homestead exemption only to people who had lived here five years (Osterndorf v. Turner). That case was about a law, decided under Florida's own constitution. This wait is written into the constitution itself, so any challenge would turn on the U.S. Constitution, and no court has ruled on it. If the December 31 date matters to your plans, ask an attorney or tax adviser how much weight to put on it.
A quarter point vs. the new exemption: the math on a $400,000 Clermont home
A lot of buyers are waiting for rates to come down a little before they buy. I understand why. The mortgage rate is the number on the news every week. What's easy to miss is that Amendment 3 lowers the tax part of owning by more than a quarter-point rate cut would lower the loan part.
Take a $400,000 home inside Clermont city limits with a $320,000 fixed-rate loan. Freddie Mac's weekly national average was 7.24% on October 29, 2026. I'm using Clermont's final 2026 tax rates and assuming the Property Appraiser assesses the home at $400,000.
| On this home | Per month | Per year |
|---|---|---|
| Rates fall a quarter point (7.24% to 6.99%) | $54 | $648 |
| Amendment 3 tax savings, 2027 | $84 | $1,009 |
| Amendment 3 tax savings, 2028 on | $169 | $2,032 |
Illustration only, not an offer of credit. 7.24% is a national average interest rate, not a quote or an APR. The rate line is the change in principal and interest; tax savings compare Amendment 3 with the 2026 rules. Yearly figures use unrounded monthly amounts.
The tax bills behind those savings
| $400,000 Clermont home, 2026 rates | Yearly property tax | Tax saved vs. old rules |
|---|---|---|
| No homestead exemption at all | $6,515 | n/a |
| Homestead under the old rules | $5,838 | baseline |
| Homestead with Amendment 3, 2027 | $4,829 | $1,009 |
| Homestead with Amendment 3, 2028 on | $3,805 | $2,032 |
Value-based property taxes only. CDD fees, other flat charges on the tax bill and the early-payment discount aren't included. Assumes 2026 tax rates hold; if the county or city raises rates to make up lost revenue, the savings shrink. Differences use unrounded figures.
From 2028 the exemption is worth about three times what a quarter-point cut would be on this home. For your payment to drop by the same $169 a month, rates would have to fall from 7.24% to about 6.45%, roughly 0.79 points. Nobody can promise that, including me.
If Florida is already your permanent home, you get this exemption whether you buy now or later, so it isn't one or the other. What it changes is what the home costs to own. If you've been waiting for the monthly cost to fit your budget, at today's rate it may already fit. If you're moving here from another state, timing matters too: miss December 31 and the four-year gap on this home is roughly $8,200 at 2026 tax rates.
Two practical notes. A locked rate stays fixed for the life of the loan, while tax savings depend on rates the county and city set every September. And your lender sets escrow from today's tax figures, so the savings usually show up after the escrow review that follows your November tax bill, as a lower payment or a refund.
If rates fall after you buy, refinancing may be an option, but it depends on your credit, income, home value and closing costs, and it isn't guaranteed. Your rate still matters, and over the life of a loan a quarter point adds up. I'm glad to look at loan offers side by side with you; your loan officer is the one to explain the terms.
Moving here from another state? Call or text me at (352) 516-8664 with your move date and I'll walk you through what has to happen by when. Mitchell Stiefel · Century 21 Hancock
Rate move vs. Amendment 3: see it with your numbers
Start with where you'll live on December 31, then set the price, town and rate. The bars compare what a rate move and the new exemption each do to your monthly cost.
Mitchell Stiefel · Century 21 Hancock · On a computer? Email mitchellstiefel@gmail.com
Buy when the right home comes up
- From 2028 the new exemption cuts this home's taxes by about $169/mo, more than a 0.25-point rate drop would save.
- Seller won't have a homestead on Jan. 1 (a rental, second home, vacant home or new build)? Own and live there by Dec. 31 and your own exemption is on the 2027 bill: about $1,686 on this home.
- If rates fall later, you may be able to refinance if you qualify. It has costs.
- You pay today's rate, about $54/mo more than a 0.25-point drop would give you.
- Buying a home the seller lives in? A December closing resets its 2027 assessment; closing after Jan. 1 usually keeps the seller's lower 2027 bill. Pick the date with that in mind.
Wait for a lower rate
- If rates fall 0.25 points, your payment drops about $54/mo.
- Under the amendment's wording you stay eligible for the larger exemption when you buy later.
- No one knows when, or whether, rates will fall.
- Lower taxes make owning cheaper, which can push prices up. Each $10,000 of price adds about $55/mo in principal and interest.
- If you rent now, that's more months of rent.
Illustration only: not a loan offer, rate quote, or tax, legal or financial advice. Principal and interest only (no PMI, insurance or HOA), 30-year amortization. Assumes the home is assessed at its price and 2026 tax rates hold; the Property Appraiser's value is often below the sale price, which lowers both bills. Tax savings compare Amendment 3 with the 2026 exemption of $25,000 school / $51,411 non-school.
Why December 31, 2026 matters, and who it matters for
Two dates decide what Amendment 3 is worth to you. The first comes from the amendment: December 31, 2026. If Florida was your permanent home that day, you're in line for the full exemption whenever you buy. If it wasn't, your first four years of homestead get $50,000 off non-school taxes instead of $150,000 to $250,000.
The second is one Florida has used for decades: January 1. Homestead for a tax year depends on who owns and lives in the home on January 1, and a home that changes hands is reassessed at market value the next January 1. That cuts both ways. Close in December on a home the seller lives in, and it's reassessed for 2027 with your exemption. Close after January 1, and the 2027 bill keeps the seller's exemption and capped value, which is often lower; the reset waits until 2028. Close by December 31 on a home with no homestead (a rental, second home, vacant home or new build), and your own exemption is on the 2027 bill.
You're moving to Florida
If you were already planning the move and Florida truly becomes your permanent home before New Year's, the amendment's wording says the four-year wait wouldn't apply to you. The Property Appraiser decides, under rules the Legislature still has to write. On a $400,000 Clermont home the wait is worth about $2,050 a year, roughly $8,200 over four years at 2026 tax rates.
Permanent residence means you actually live here and plan to stay. If you're still working and living in another state on December 31, a closing alone probably won't change that. Changing your home state can also affect your old state's income tax and resident tax breaks, and Florida charges back taxes, penalties and interest on exemptions claimed without qualifying, so talk to a tax professional about both states before you act. The FAQ lists the documents Lake County accepts today.
Text me your move date and I'll walk you through what a December closing would take. My relocation page covers how I help buyers who are still out of state.
You own a winter home here
If your Lake County place is a second home today, it doesn't get homestead. If Florida becomes your permanent home by December 31, that home could be in line for the full exemption. Changing your legal home state (your domicile) also affects income tax, estate planning and where you vote, so talk to your CPA or attorney.
If you're not a U.S. citizen, Lake County asks for a Permanent Resident Card (green card) with a homestead application, so most owners here on visitor status, including many Canadian snowbirds, can't claim it. For them, the 5% cap on assessment increases is the part of Amendment 3 that helps. You also can't keep a residency-based property tax break in another state at the same time.
Call me and I'll look up your winter home's assessed value and estimate its taxes as a homestead in 2027 and 2028, so you have numbers to take to your CPA.
You already live here but don't own
You're likely already in line. The amendment asks whether you kept a permanent residence in Florida on December 31, not whether you owned it, and Leon County's Property Appraiser says residents by that date who buy later stay eligible. Lake County hasn't published its own guidance yet, so keep your lease and Florida ID as records.
There's no tax reason to rush to a December closing either. What the amendment changes for you is the cost of owning: about $169 a month less in tax on a $400,000 Clermont home from 2028.
Want to see owning next to renting? Text me your rent and price range and we'll look at it together, with the 2028 taxes included.
You own a Florida home and want to move
Many Florida owners stay put because a new home's taxes reset to market value. Amendment 3 softens that reset, and it helps if you stay, too. At 2026 Clermont rates, a home assessed at $180,000 would owe about $938 a year from 2028 instead of about $2,254, because no non-school tax is left. Moving to the $450,000 home in the selling example would run about $1,241 a year from 2028. Under the old rules that move added about $815 a year in tax; now it's about $303.
Portability carries up to $500,000 of your Save Our Homes savings. Moving to a less expensive home? It carries over as a percentage instead of the full dollar amount. You have up to three years from January 1 of the year you left your old homestead, and you file the portability form (DR-501T) with your new homestead application.
Call me and I'll look up your current assessed value and estimate your next home's taxes with portability and the new exemption. The Property Appraiser sets the final portability amount.
You're thinking about selling
If you're still living in the home as your homestead on January 1, 2027 and sell later in the year, the 2027 bill keeps your exemption and capped value, and taxes are prorated at closing. From 2028 the buyer's taxes reset to their own assessed value and exemptions. Florida requires a property tax disclosure telling buyers not to rely on the seller's current taxes, so that's how I present it. If you've already moved out, talk to me before you list.
Closings early in 2027 will usually prorate taxes from the 2026 bill, which used the old exemption. Your contract decides whether the proration can be redone once the real 2027 bill comes out, so we'll look at that before you sign.
Some buyers moving from other states may try to close by December 31; I can't tell you how many. If your home is ready to sell, listing now puts it in front of them. If it isn't, January is fine.
Portability example: say the Property Appraiser's value on your home is $400,000 (often less than it would sell for) and its assessed value is $180,000. You buy a $450,000 home in Clermont and carry $220,000 of portability, so it's assessed at $230,000. Under the old rules its yearly tax would be about $3,069. From 2028 it's about $1,241, because the whole $230,000 falls under the $250,000 non-school exemption and only school taxes remain. Without portability it would run about $4,620 in 2028.
Clermont 2026 rates, value-based taxes only, assessed values rather than market values. The Property Appraiser sets your portability amount.
Call or text (352) 516-8664 for a net sheet (what you'd walk away with) and a tax side-by-side on your next home. My sellers page walks through how I price and prepare a home.
Can you really close by December 31?
Sometimes. A conventional loan usually takes 30 to 45 days from contract to closing, and FHA and VA loans often take longer. So I'd want a signed contract before Thanksgiving (November 26) and a closing date of December 28 to 30 rather than the 31st. Your Closing Disclosure has to reach you three business days before you sign, and Christmas falls on a Friday this year. In my experience, cash buyers can often close in two to three weeks if the HOA or CDD estoppel letter comes back in time.
Homeowners insurance is often the slowest piece. Older homes usually need a 4-point inspection (roof, wiring, plumbing and air conditioning) before an insurer will write a policy, and an older roof can rule out some carriers. A wind-mitigation report is optional but can lower the premium. I'd have you start insurance quotes the day we go under contract.
New construction is its own case. A builder's finished quick-move-in home can often close in about 30 days, sometimes with a builder-paid rate buydown. A home that isn't substantially finished on January 1 is assessed that year as land plus whatever is finished, so the first bill can be small and the next one much bigger.
Closing in December? Your 2026 tax bill is already out, and it's usually paid at closing, split between buyer and seller by the days each owns the home.
If closing in time isn't realistic and you're moving here for good either way, what matters for the amendment is where your permanent home is on December 31, not when you close. Some people move into a rental first and buy in 2027. Talk with a tax professional about what that means for you.
Not sure December 31 is doable? Text me your move date. If it isn't realistic, I'll say so, and we'll plan a 2027 search. Mitchell Stiefel · Century 21 Hancock
Year-end checklist, by situation
Not every step has a December 31 deadline. Each one says who it's for.
- Owners: check that your homestead is on file. Look up your parcel on the Lake County Property Appraiser's site. Approved exemptions show green checkmarks on the property record card.
- Bought or closing in 2026: file as soon as you're in. Lake County takes next-year applications online, and the deadline is March 1, 2027. Missed it? You can still apply within 25 days after the August TRIM notice is mailed, and the Property Appraiser (or the Value Adjustment Board, for a $15 fee) may grant it if you show extenuating circumstances.
- Moving here before year-end: keep records of your move. Lake County's homestead application asks for at least two Florida residency documents. The rules for proving December 31, 2026 residency haven't been written yet, so ask a tax professional what applies to you.
- Buying with a loan: talk to a lender soon. Closing by December 31 means a signed contract before Thanksgiving, and a pre-approval is what makes that possible. If you'd like, I can share names of several local lenders; you're free to choose any lender you want.
- Buying: pick the closing date with the seller's homestead in mind. Ask me and I'll look up the seller's status on the Property Appraiser's site for any home you're considering. If the seller lives there, closing after January 1 usually means a lower 2027 bill. If it's a rental, second home, vacant home or new build, owning and living there by December 31 puts your own exemption on the 2027 bill.
- Selling: get a net sheet and a tax side-by-side. Know what you'd walk away with, what your portability is worth, and what your next home's taxes look like under the new exemption. If you've already moved out, talk to me before you list.
- Everyone: talk to your tax professional. Bring anything involving domicile, trusts or a second home. I'll handle the real estate side and work alongside them.
Want me to run this on the home you're looking at?
Call or text me. I'll look up the assessed value and tax rate for the home or area you have in mind, check the seller's homestead status, and walk you through the calendar. If waiting makes more sense for you, I'll say so.
Mitchell Stiefel · Century 21 Hancock
Amendment 3 questions and answers
Did Florida's Amendment 3 pass in 2026?
How much is the new Florida homestead exemption?
Does Amendment 3 lower my school property taxes?
When will I see the savings on my tax bill?
Is it better to close in December or January?
I'm moving to Florida in 2027. Do I get the bigger exemption?
I rent in Florida now. If I buy next year, do I still qualify?
What counts as proof of Florida residency for homestead?
Do I need to reapply for homestead because of Amendment 3?
Does Amendment 3 change Save Our Homes or portability?
What does Amendment 3 do for second homes and rental properties?
Will Amendment 3 lower my CDD or HOA fees?
Won't the county and cities just raise tax rates to make up the difference?
Won't home prices go up and eat the savings?
Can I close on a home by December 31?
Should I wait for mortgage rates to drop before buying?
Why should I trust a Realtor's math?
Sources and how I did the math
The legal and tax figures on this page were checked against the sources below on November 4, 2026. Dollar examples are estimates built from those sources.
- Enrolled CS/HJR 1F (2026F), Florida Legislature: the amendment's text. Exemption amounts, the December 31, 2026 permanent-residence rule, the fifth-year rule and the 2030 local option, the 5% non-homestead cap, the spending list, portability and the January 1, 2027 effective date.
- Florida Division of Elections, ballot no. 3: the official ballot title and summary voters saw, including "to the extent permitted by the U.S. Constitution."
- Leon County Property Appraiser, Amendment 3 summary: the 2026 exemption of $51,411, TRIM and tax-bill timing, inflation dates, portability and Save Our Homes unchanged, non-ad valorem assessments not reduced, residents who buy later, and how the rolled-back rate works after the amendment.
- Lake County Property Appraiser, Exemptions: the January 1 own-and-occupy rule, the March 1 filing deadline, accepted residency documents, automatic renewal. Also: tax estimator and online homestead filing (neither shows Amendment 3 until the 2027 tax roll).
- Lake County Property Appraiser, 2026 Final Millage Rate Sheet: the tax rates for each town. Non-school mills are the total minus school board state (3.0560) and local (2.9980).
- Florida Statutes: s. 193.155 (reassessment after a sale, portability), s. 196.011 (filing deadline and late filing), s. 196.161 (back taxes and penalties on improper exemptions), s. 200.065 (how local rates are set). Florida Department of Revenue, PT-112 (portability).
- Osterndorf v. Turner, 426 So. 2d 539 (Fla. 1982): the earlier five-year residency rule struck down under Florida's constitution.
- Citizens Property Insurance, inspections: 4-point inspections for older homes; wind mitigation for discounts.
- Freddie Mac Primary Mortgage Market Survey: the 7.24% 30-year fixed national average for the week of October 29, 2026.
- Florida TaxWatch Property Tax Resource Center: publishes the same savings method ($98,589 more exempt in 2027, $198,589 in 2028, times your non-school millage).
- NBC 6 South Florida election results: 62.01% yes with 99% of the expected vote counted (unofficial).
The math: tax = (assessed value − exemption) × millage ÷ 1,000, worked separately for school and non-school taxes. Old rules: $25,000 off school taxes; $25,000 plus up to $26,411 off non-school taxes. Amendment 3: $25,000 off school taxes; up to $150,000 (2027) or $250,000 (2028) off non-school taxes. Mortgage payments use the standard 30-year amortization formula. Outside Lake County? The exemption rules are the same statewide, but the dollar math here uses Lake County rates. Winter Garden and Horizon West are in Orange County, and most of The Villages is in Sumter County; check that county's Property Appraiser.
Published November 4, 2026. This page explains a new law as it stood the day after the election, and some details depend on rules the Legislature hasn't written yet. It is general information, not tax, legal or financial advice. Rules may change after this date; confirm your own exemption with the Lake County Property Appraiser and talk with a tax professional before changing your residency.
Waiting on rates, or moving here before New Year's?
If Florida is already your permanent home, there's no deadline, and I'm still glad to run your numbers on buying, selling or moving up. If you're moving here and financing, you'd want a signed contract before Thanksgiving.
Mitchell Stiefel · Century 21 Hancock
Keep exploring
- Moving to Central Florida checklist: the homestead exemption and other first-30-days deadlines for new residents.
- Closing costs in Lake County: what buyers and sellers pay at closing, and how property taxes are prorated.
- 55+ communities: thinking about downsizing? A guide to the area's active-adult communities.
- Relocating from out of state: how I help buyers moving to Clermont from afar.