Amendment 3 Passed. Your Florida Residency on Dec. 31, 2026 Matters.

Florida's homestead exemption currently reduces the taxable value of a primary residence by $50,000 for most homeowners. Florida voters approved Amendment 3 on November 3, 2026 (unofficial results), which expands the exemption for non-school property taxes to $150,000 in 2027 and $250,000 in 2028, adjusted for inflation thereafter. Actual dollar savings depend on your property's assessed value and local non-school millage rate, and will be substantially less than the exemption amount itself.

Closing means completing the purchase transaction — signing all documents, funding the loan, and taking title to the property. For new construction, this requires the home to be substantially complete and pass all required inspections. SeaGate has a limited number of homes that are already under construction or nearing completion, which gives buyers a realistic path to closing before December 31, 2026. Not all homes can close in this timeframe.

Florida voters approved Amendment 3 on November 3, 2026, with about 62% of the vote in unofficial returns; 60% was required. Results are not final until certified. The amendment's five-year waiting period for new Florida residents applies only 'to the extent permitted by the U.S. Constitution' and is subject to legal challenge; it may be modified or not enforced. The amendment's ballot language was also the subject of litigation in Florida.

Eligibility depends on your Florida residency, not on your purchase. The larger exemption is available to people who were permanent Florida residents as of December 31, 2026. Anyone who establishes Florida permanent residency on or after January 1, 2027 receives a smaller exemption ($50,000 of non-school assessed value) and becomes eligible for the full exemption beginning in the fifth year of homestead. Permanent residency is determined by the county property appraiser based on where you are actually domiciled (declaration of domicile, Florida driver's license, voter registration, and similar factors). Closing on a home in 2026 does not by itself make you a permanent Florida resident, qualify you for homestead, or guarantee any exemption or tax savings. Buying a SeaGate home does not determine your eligibility.