Florida Homestead Exemption
For a qualifying permanent residence in 2026, reduce non-school taxable value by up to $51,411. The school-tax exemption remains up to $25,000.
$25,000
Initial exemption — applies to all property taxes
$26,411
2026 additional maximum — assessed value above $50,000; non-school taxes only
3% or CPI
Save Our Homes — the lower annual assessment limit after the first homestead year
For tax year 2026, qualifying ownership and permanent residence as of January 1 may establish eligibility. The initial exemption is up to $25,000 for all property taxes, including school district taxes. The additional exemption is up to $26,411 for non-school taxes on assessed value above $50,000, reaching its full amount at $76,411. Together, these reduce non-school taxable value by up to $51,411. The additional amount adjusts annually for positive inflation.
The application for homestead exemption (Form DR-501) and other property tax forms are available through the county property appraiser’s office. If filing for the first time, be ready to answer a few questions about the property and your residency there — and if only one spouse holds the title, the other spouse may file with the titleholder’s consent.
How the 2026 Additional Exemption Works
Assessed Value
$44,885
Below $50,000 — additional exemption doesn't apply.
Assessed Value
$67,455
2026 additional exemption: $67,455 minus $50,000 = $17,455; non-school taxes only.
Assessed Value
$204,429
Full 2026 additional exemption — assessed value reaches $76,411; non-school taxes only.
For the $204,429 example, school taxable value is $179,429 ($204,429 minus $25,000). Non-school taxable value is $153,018 ($204,429 minus $51,411). These illustrations assume full eligibility and no other exemptions. Apply each taxing authority’s millage rate to its taxable value; non-ad valorem charges are separate.
Amendment 3: Pending November 3, 2026 Vote
As of October 21, 2026, Amendment 3 is a ballot proposal, not current law. It requires at least 60% voter approval. If approved, qualifying homesteads could receive total non-school exemptions of $150,000 in 2027 and $250,000 in 2028, with inflation adjustments beginning in 2029. The school exemption would remain $25,000.
Primary residences must still qualify. For people who were not permanent Florida residents by December 31, 2026, the proposal starts with a $50,000 non-school exemption, adjusted for inflation beginning in 2028; the larger benefit begins with the fifth year of homestead exemption, subject to the proposal’s rules. Future buyers should confirm residency timing and eligibility rather than assume immediate access.
Second homes and investment rentals would not receive the larger homestead exemption. Qualifying non-homestead properties could instead benefit from a lower annual non-school assessment-growth cap: 5% instead of 10%, beginning in 2027 if approved. This would not cap the tax bill or prevent reassessment after a qualifying ownership change.
Save Our Homes and portability would remain. Millage rates and non-ad valorem charges still affect the bill, so no specific savings are guaranteed. The proposal also provides a process for further local exemptions; it does not automatically eliminate all property taxes.
Read our homestead eligibility and filing guide, Amendment 3 overview, and Key West property-tax guide. Existing answers are also available in Questions & Answers.
First-Time Filing? Be Ready to Answer
- Whose name or names were recorded on the title on January 1?
- What is the street address of the property?
- Were you living in the dwelling on January 1?
- Do you claim homestead in another county or state?
Proof of Residency May Include
- Previous residency outside Florida, and date it ended
- Florida driver license or ID card number
- Evidence of giving up a driver license from another state
- Florida vehicle tag number
- Florida voter registration number (if a US citizen)
- Declaration of domicile, with residency date
- Current employer
- Address listed on your last IRS return
- School location of dependent children
- Bank statement and checking account mailing address
- Proof of payment of utilities at the homestead address
Common Questions
Updated October 21, 2026. Sources: Florida DOR 2026 exemption schedule; Florida Department of State Amendment 3 text; Monroe County explanation. Confirm individual eligibility with the Monroe County Property Appraiser.
Where to File
500 Whitehead St.Rear of Building
Key West, FL 33040
Ask for Maggie Diaz — she’s very nice and helpful!
Questions Before You Close?
Scott Forman can point you toward the right forms and timing as part of your purchase.