A once-in-a-generation property tax change is 13 days away. Here is exactly what it means for buyers in Bonita Springs right now. ✨
There is a vote happening on November 3, 2026 that every buyer considering a move to Florida needs to understand before they make their decision. And for anyone who has been on the fence about establishing Florida residency, this is the moment that changes the conversation entirely.
Florida Amendment 3 is on the general election ballot in less than two weeks. And if it passes, it will represent the most significant change to Florida's property tax structure in a generation.
What Is Amendment 3?
Amendment 3 proposes a dramatic increase to Florida's homestead exemption, the tax break that lowers the taxable value of your primary residence.
Here is what the numbers look like:
Under current law, qualifying Florida homeowners receive up to a $51,411 homestead exemption for the 2026 tax year. If Amendment 3 passes, that exemption increases to $150,000 in 2027 and rises further to $250,000 in 2028, with the exemption continuing to increase based on inflation each year after that.
For a $2 million primary residence in Bonita Springs, the difference in taxable value between the current exemption and the proposed $250,000 exemption is significant. When applied to the non-school portion of the property tax bill, which represents approximately 60% of your total tax obligation, the annual savings for a luxury homeowner can be substantial.
Amendment 3 also proposes reducing the annual assessment cap on non-homestead properties from 10% to 5%, a change that affects investment properties, second homes, and commercial real estate.
The December 31, 2026 Deadline That Changes Everything
Here is the detail that every buyer needs to understand clearly.
Permanent Florida residents as of December 31, 2026 would be eligible for the larger exemption amounts beginning in 2027, even if they purchase their home after that date.
New permanent residents moving to Florida after December 31, 2026 would start with the current $50,000 homestead exemption and would not become eligible for the full $250,000 exemption until after five years of residency.
This creates a very specific and very real window of opportunity. A buyer who establishes Florida residency before the end of this year, regardless of when they actually close on their home, would qualify for the full benefit from the moment they homestead their property.
For buyers who have been considering a move to Bonita Springs, this is not an abstract policy question. This is a concrete financial incentive with a specific deadline. And that deadline is ten weeks away.
What Amendment 3 Does Not Do
It is worth being clear about what this amendment does not change. Amendment 3 does not eliminate property taxes. It does not affect school district property taxes. It does not apply to second homes, rental properties, or commercial real estate, only to primary residences with homestead status. And the larger exemption applies only to the non-school portion of the tax bill.
For buyers considering Bonita Bay, Miromar Lakes, Palmira, or any other community as a primary residence, these distinctions matter. Your tax advisor will be able to calculate the specific impact for your situation. I always recommend that conversation before closing.
Why Florida Was Already the Right Choice
Even before Amendment 3, the financial case for establishing Florida residency was extraordinarily compelling. No state income tax. No inheritance tax. A legal and regulatory environment that has consistently attracted high-net-worth individuals from New York, California, Illinois, and beyond.
Amendment 3, if passed adds one more dimension to a case that was already among the strongest of any state in the country. For buyers relocating from high-tax states, the combined effect of no state income tax and a dramatically higher homestead exemption represents a meaningful and lasting wealth advantage that compounds over years of primary residency.
What This Means for Buyers in Bonita Springs Right Now
The buyers I speak with every day are making sophisticated, long-term decisions. They are not chasing trends. They are not speculating. They are identifying communities they want to call home for years, even decades, and making deliberate, well-researched moves.
For those buyers, Amendment 3 adds a time-sensitive dimension to a decision they may have been approaching on a longer timeline. The financial benefit of establishing Florida residency before December 31, 2026 is significant. And November 3 is when the voters of Florida decide whether that benefit becomes law.
Whether you are a longtime snowbird finally ready to make Florida your primary home, a buyer considering Bonita Springs for the first time, or someone who has been watching this market for years and waiting for the right moment, this is the conversation worth having right now.
I would love to help you understand what all of this means for your specific situation. 🤍 Let’s talk
