New Florida residents have deadline to avoid wait for bigger homestead exemption

Florida’s Amendment 3 will raise the homestead exemption to $150,000 for the 2027 tax cycle, reducing the taxable value of eligible homes. New residents must establish permanent Florida residency by Dec. 31 to avoid a five-year wait for the larger exemption. Lee County Property Appraiser Matt Caldwell said documents such as a driver’s license, address records and voter registration can help demonstrate residency, while questioning the waiting period’s constitutionality.