Should I close on a Florida home before Dec. 31, 2026 because of Amendment 3?
Short Answer
Not for Amendment 3 alone. Amendment 3 is on the Nov. 3, 2026 ballot and needs 60% of voters to pass. If it passes, the cutoff in its text is being a Florida resident on Dec. 31, 2026, not closing on a house that day. Homestead itself still needs title and permanent residence on Jan. 1, filed by March 1. Confirm with the county property appraiser.
Should I close before Dec. 31, 2026 because of Amendment 3?
Not for Amendment 3 alone. Buy the house when the house, the payment, and the file make sense. Then look at the tax timing.
Amendment 3 is a proposed constitutional amendment on the November 3, 2026 general election ballot. It is not law today. Florida constitutional amendments need at least 60% of the vote. If it passes, it takes effect January 1, 2027.
What Amendment 3 would change
If it passes, the ballot summary says:
- The homestead exemption for non-school taxes rises to $150,000 in 2027 and $250,000 in 2028, then adjusts for inflation.
- School taxes are not part of the larger exemption.
- People who are not Florida residents on December 31, 2026 get the existing homestead exemption when they qualify. The larger exemption starts in their fifth year of exemption, to the extent permitted by the U.S. Constitution.
- The annual cap on assessment increases for non-homestead property drops from 10% to 5%.
Read the longer explainer at /news/florida-amendment-3-2026-property-tax.
Residency on Dec. 31 is not the same as closing on Dec. 31
The date in the amendment is about being a Florida resident. It does not say you must own a home that day. If you already live in Florida and rent, a later purchase is not the same as arriving from out of state. How the state proves residency for this rule is not settled yet. The Legislature and the property appraisers will set the procedure if it passes. That last clause about the U.S. Constitution also tells you it could be challenged.
How homestead timing works today
Under Florida law, homestead is set as of January 1. To qualify for a tax year, you hold title and make the home your permanent residence on January 1. You file with the county property appraiser by March 1. Close on December 15 and move in, and you can usually file for that coming January 1. Close on January 5, and you usually wait a year.
| Situation | What usually happens |
|---|---|
| Florida resident, close and move in by Dec. 31, 2026 | File homestead by March 1, 2027 for the 2027 tax year |
| Florida resident, close in 2027 | Homestead starts the next Jan. 1 you qualify |
| Move to Florida after Dec. 31, 2026 | If Amendment 3 passes, existing homestead first, larger exemption in year five |
| Second home or rental | No homestead. The 5% non-homestead cap would apply if it passes |
Steps before you rush a closing
- Decide if the house works without the tax change.
- If you are moving from out of state, talk to the property appraiser about what counts as Florida residency.
- Check how long the loan, the inspections, and insurance actually take. See how long it takes to buy in Pinellas.
- Do not shorten inspection or insurance periods to hit a date.
- After you close, file homestead with the Pinellas or Hillsborough property appraiser by March 1.
What to do next
Read who gets the larger exemption and what the Florida homestead exemption is. Book a consultation if you want to talk through a specific purchase.
This is consumer education, not tax or legal advice. Amendment 3 has not passed. Confirm residency and homestead rules with your county property appraiser and a tax professional.
Jonathan Loescher, SL3546365 and NMLS 2621894.