If you’re considering downsizing, preparing for retirement or moving closer to family, how could Florida’s 2026 housing vote affect your next move in Tampa Bay? Property taxes are one part of that conversation, especially when you’re comparing the cost of staying in your current home with buying another.
A recent Real Estate News article covered housing measures voters considered across the country, including Florida’s Amendment 3. My purpose in sharing this information is to explain the results and their potential effect on housing decisions. This is a factual overview, with no endorsement of a political party, candidate or ballot measure.
Florida’s unofficial election returns show Amendment 3 receiving approximately 62% approval, exceeding the 60% required to pass. The amendment increases the homestead exemption for non-school property taxes to $150,000 in 2027 and $250,000 in 2028, with inflation adjustments afterward.
For qualifying homeowners, that could reduce the assessed value subject to non-school property taxes. Actual savings depend on eligibility, taxable value and applicable tax rates. The increased exemption applies to non-school taxes, while school taxes continue under their existing exemption rules.
People planning to relocate to Florida should also review the residency provision. Under the amendment, people who are not Florida residents on December 31, 2026, initially receive the existing exemption when they qualify for homestead. The increased exemption begins with their fifth year of exemption, to the extent permitted by the U.S. Constitution.
If you’re in your 50s, 60s or beyond, your next move may start with wanting everyday life to feel different. Perhaps you’re ready for less upkeep, a home closer to family or more freedom to travel. Those priorities deserve as much attention as the number of bedrooms.
When we talk about downsizing, I’d want to understand what you hope to gain from the move. Are you trying to lower monthly expenses? Reduce maintenance? Find a layout that will work comfortably for years to come? A smaller home may meet some of those goals, but we need to look at its full ownership costs to see how it fits your plans.
That means comparing estimated property taxes, insurance, association fees, maintenance and any mortgage payment. Potential tax savings belong in that comparison alongside the expenses of selling and moving.
You don’t have to figure all of this out before reaching out. I can help you explore housing options and connect with the professionals who can answer questions specific to your situation. Your county property appraiser can clarify homestead eligibility, portability and applicable tax rules, while a lender can explain financing and estimated payments.
If you’re thinking about a next-chapter move in Largo, Clearwater, Dunedin, Safety Harbor or elsewhere in Tampa Bay, let’s start with what you want life to look like. From there, we can work through the housing choices and costs together.
Call or text Angi Trapp at 317.373.3741.
Angi Trapp, REALTOR® | eXp Realty