Happy Summer Friends!

This November, an item on the ballot could drastically reduce the cost of homeownership for all of us. Titled Amendment 3, this Property Tax Bill proposes a big change to our homestead exemption.

If approved by voters (and I think it will be) the exemption changes from the current $50,000 to $150,000 in 2027, and up to $250,000 in 2028. You will still pay the same school tax, but the rest of your property tax bill will drop significantly!

However, there is a major caveat...

The bill includes a strict five-year phase-in rule for anyone who establishes their primary home after December 31, 2026. This means homes established after 2026 are locked out of the tax reduction for five years. These buyers will still get the baseline $50,000 exemption but must wait five years to claim the full $250,000 benefit.

The good news?

Anyone who purchases and settles into their primary residence before the end of 2026 receives the full tax break immediately. And, If you already own your home, you'll be able to move anytime and keep the full benefit of the new tax structure/exemption.

While we have plenty of homes for sale right now, inventory will change as we head into the fall. The rush after the November vote will probably have some buyers wishing they had started their home search sooner. If you know anyone planning a move to Florida or buying their first Florida home in the next year or two, accelerating their timeline to buy before the end of 2026 will be financially beneficial to them if they can do it.

We're here to help people find the home they love and take advantage of this tax benefit. Share our contact info ASAP with anyone you think would benefit from connecting with us.

Here's to all of us homeowners saving $1,000+ in 2027 and $2,000+ in 2028.