Florida voters approved Amendment 3 on November 3, 2026, expanding the homestead exemption for many homeowners and lowering the assessment cap on properties such as second homes and rentals. The changes take effect January 1, 2027, and first apply to the 2027 tax roll. If you’re buying in Palm Beach County, one date matters in particular: December 31, 2026, the cutoff for determining whether you already had a permanent Florida residence. Florida Department of Revenue bulletin · Amendment text
If You Already Own Your Primary Home
If your Palm Beach County home already has a homestead exemption and you remain eligible, the larger exemption can reduce the portion of your assessed value subject to property taxes levied by the county, your municipality, and other applicable taxing authorities outside the school district.
Tax year | Maximum homestead exemption for property taxes outside the school district |
|---|---|
2027 | $150,000 |
2028 | $250,000 |
2029 onward | $250,000 base, adjusted annually when inflation is positive |
The school district portion still has a separate homestead exemption of up to $25,000. Existing homestead exemptions generally renew automatically while you remain eligible. When your Notice of Proposed Property Taxes arrives in August 2027, check the exemption and taxable values shown for each taxing authority. Amendment text · Palm Beach County Property Appraiser tax calendar
Say your Jupiter home has an assessed value of $400,000. With the full exemption and before any other exemptions, $250,000 would be taxable for levies outside the school district in 2027. If your assessed value were still $400,000 in 2028, that taxable amount would fall to $150,000. Those figures are used to calculate the tax. Your actual bill depends on the rates at your address and any applicable charges, such as assessments for solid waste or other services. Amendment text · How Palm Beach County tax bills are calculated
If You’re Buying a Primary Home in Palm Beach County
Already a permanent Florida resident by December 31, 2026? You can qualify for the larger exemption when you buy and establish a qualifying homestead, even if it’s your first Florida home. For the 2027 tax year, you generally need to own the home and make it your permanent residence by January 1, 2027, and file with the Palm Beach County Property Appraiser by March 1, 2027. If you’re moving from another Florida homestead, apply for portability when you file. It may let you carry over some or all of your existing Save Our Homes assessment benefit, up to $500,000. Amendment text · Homestead filing · Portability
Establishing Florida residency on or after January 1, 2027? Once you qualify for homestead, you generally start with an exemption of up to $50,000 for taxes outside the school district and up to $25,000 for school district taxes. The $50,000 amount is eligible for inflation adjustments starting in 2028. Under the amendment’s schedule, the larger exemption starts in your fifth year of receiving the homestead exemption. If 2027 is your first exemption year, that puts the fifth year in 2031. Florida Department of Revenue bulletin · Amendment text
Whether you’re looking at a condo in Delray Beach or a house in Palm Beach Gardens, budget from a post-purchase tax estimate. A sale can reset the assessed value, and the seller’s homestead exemption and accumulated Save Our Homes benefit don’t transfer to you. A home can have a higher tax bill after a sale even when the new owner qualifies for a larger exemption. Palm Beach County Property Appraiser homestead and assessment guidance · How the seller’s exemption is handled
If You Own a Seasonal Home or Rental
If you keep a seasonal condo on Singer Island or own a rental in West Palm Beach, the change to watch is the assessment cap. Starting in 2027, annual assessed value increases for qualifying nonhomestead properties are generally capped at 5% instead of 10% for property taxes outside the school district. A sale can reset the assessment, and changes in local tax rates or other charges can still make the total bill rise by more than 5%. Amendment text · Palm Beach County tax bill guidance
Thinking about buying, selling, or moving within Palm Beach County? Reach out to me at Luxe Lifestyles. We can look at the property’s current assessment, talk through your closing timeline, and identify the numbers you’ll want to verify with the Property Appraiser before you make an offer.
