Updated September 2026If you are trying to determine whether you can afford a home in Apollo Beach, the mortgage payment is only the starting point.The real cost depends on the home itself, its
Understanding Florida’s Amendment 5: What It Means for Homeowners
Dated: March 18 2025
Views: 42
If you're a Florida homeowner or thinking about making the move to the Sunshine State, Florida's Amendment 5 is an important change that could save you money and offer added flexibility. Passed in November 2020, this amendment gives homeowners extra time to transfer their homestead property tax benefits, making it a positive step for long-term homeownership in Florida.
What is Florida's Amendment 5?
Amendment 5 is a constitutional change that extends the timeframe for homeowners to transfer their homestead property tax benefits. Florida residents benefit from the Save Our Homes provision, which limits the annual increase in assessed home value for property tax purposes to 3%. This cap protects homeowners from sharp property tax increases during periods of rising home values.
Previously, homeowners had only two years to transfer their homestead exemption benefits after selling their primary residence. Amendment 5 extends that period to three years, giving homeowners more time to secure these valuable savings.
Why is This Important for Homeowners?
The extension to three years provides several advantages:
More Flexibility: Homeowners now have an additional year to purchase a new home and transfer their homestead tax benefits. This is especially helpful for those facing delays in finding the right property or building a new home.
Financial Savings: With more time to transfer homestead benefits, homeowners can avoid losing this valuable tax reduction.
Less Pressure to Relocate Quickly: For those downsizing, relocating for retirement, or making lifestyle changes, this extension offers peace of mind and reduces the pressure to rush into a purchase.
What Does This Mean for Those Moving to Florida?
Florida continues to be a top destination for people seeking warm weather, vibrant communities, and tax advantages. The combination of no state income tax and property tax benefits like the Save Our Homes cap makes Florida an appealing option for retirees, families, and remote workers alike.
For those moving from out of state, understanding Amendment 5 can help you plan better. By establishing Florida residency and filing for a homestead exemption, you'll lock in these property tax savings and potentially save thousands of dollars each year.
Key Takeaways for Homeowners and Buyers:
If you're selling and relocating within Florida, you now have three years to transfer your homestead exemption benefits.
If you're moving from another state, filing for a homestead exemption as soon as possible can help you maximize your property tax savings.
If you're building a new home, this added flexibility provides extra time for construction delays without sacrificing your tax benefits.
Amendment 5 is a positive change designed to protect homeowners and support property investment in Florida. Whether you're already a resident or planning to move, this extended timeframe offers greater peace of mind and improved financial protection.
If you have questions about how Amendment 5 could impact your home purchase or sale, I'm here to help you navigate the process. #MakeTheMove
Shawna Calvert
Shawna Calvert: A Realtor Committed to Excellence, Service, and Client SatisfactionIf you are searching for a real estate agent in Apollo Beach or across the Tampa Bay waterfront market, you deserve t....
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All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Updated on September 25, 2026 2:58 AM UTC
All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating
