If you've been thinking about moving to Florida, now might be a great time to start making plans.

Besides the sunshine, beaches, and no state income tax, Florida homeowners could soon see even bigger property tax savings. A proposed change to the Florida Constitution will be on the ballot this November, and if voters approve it, many homeowners could pay less in property taxes starting in 2027.

So... What's Changing?

Right now, if you own a home in Florida and it's your primary residence, you may qualify for something called the Homestead Exemption.

Don't let the name scare you — it's actually pretty simple.

The Homestead Exemption lowers the taxable value of your home. That means when your property taxes are calculated, they're based on a lower value, which can save you money every year.

The proposed amendment would increase that tax break significantly if it passes.

In simple terms, homeowners could keep more money in their pockets instead of paying it in property taxes.

Why Does Buying Before 2027 Matter?

If you're already planning to move to Florida, buying before these changes take effect could put you in a good position.

By owning your home and making it your primary residence, you may be eligible to receive the larger tax savings once they become available (if voters approve the amendment).

Even though the new exemption wouldn't begin until 2027, getting settled now means you'll already be in place to take advantage of it.

It's Another Reason Florida Is So Popular

People continue moving to Florida for plenty of reasons:

• No state income tax
• Warm weather all year
• Beautiful beaches and outdoor activities
• Growing job market
• Great communities for families, retirees, and remote workers

Lower property taxes could become another reason more people decide to call Florida home.

A Few Things to Remember

The proposed changes are not official yet.

Florida voters will decide this November whether the amendment becomes part of the state constitution. It needs at least 60% voter approval to pass.

If it does, the new tax savings would begin in 2027.

The Bottom Line

No one should buy a home based on one tax change alone. Your budget, lifestyle, and long-term plans should always come first.

But if moving to Florida is already on your radar, this proposed amendment could make homeownership here even more attractive.

Between Florida's lack of state income tax, year-round lifestyle, and the possibility of even greater property tax savings, now may be a smart time to start exploring your options.

After all, it's always nice when your dream home comes with the potential to save you money, too.

Contact us today to explore your options!

This article is for general information only and shouldn't be considered legal or tax advice. If you have questions about your specific situation, it's always best to speak with a tax professional or real estate expert.