Should You Wait for Amendment 3 Before Buying a Sarasota or Manatee Home?
Should You Wait for Amendment 3 Before Buying a Sarasota or Manatee Home?
Quick Answer
Before the November 3 vote, Amendment 3 is a reason to compare two budgets rather than assume a tax saving. It needs 60% approval. For qualifying existing Florida residents, the proposal would increase the non-school homestead exemption to $150,000 in 2027 and $250,000 in 2028. New Florida residents would follow a different rule, with the larger exemption beginning in the fifth exemption year. School taxes and reassessment still matter. Use a property-specific current-law estimate for affordability, with potential savings as a separate scenario. Call me at 941.400.8735 or read about Michael Renick—we can help you organize the next steps.
What Does Amendment 3 Mean for a Home Buyer Here?
If you are shopping in Sarasota or Manatee County right now, you have probably heard that a property tax amendment is on the ballot and wondered whether you should wait for the result before you make an offer. It is a fair question, because property tax is one of the largest ongoing costs of owning a home here.
The measure is Amendment 3, which the Legislature passed as CS/HJR 1-F. According to the Florida Senate’s bill page for CS/HJR 1-F, the House passed it 75 to 26 and the Senate 30 to 9 on June 2, and it would take effect January 1, 2027 if approved. Voters decide on Nov. 3, and Sarasota Magazine reports it needs at least 60 percent. Below is what the text says, what it leaves alone, and how to think about timing without guessing at the outcome.
What Would Change for Homeowners If Amendment 3 Passes
The Florida Senate summary describes the proposal’s larger non-school exemption for qualifying residents established by December 31, 2026: up to $150,000 in 2027 and $250,000 in 2028, with inflation adjustment beginning in 2029. New residents follow a different exemption schedule. School levies are treated separately, so the proposal is not a blanket removal of property tax.
What Amendment 3 Would Not Change
School district taxes would not get the bigger exemption. The resolution keeps the school exemption at $25,000 of assessed value. Sarasota Magazine also notes that charges such as waste collection are not eliminated, and that the first changes would show up on property tax bills issued in November 2027. The amendment concerns property taxes; insurance premiums and association dues are separate costs that it does not address. And it does not remove the reassessment that happens when a home sells. The Manatee County Property Appraiser explains that on January 1 of the year after a sale, the seller’s exemption and Save Our Homes cap come off and the assessed value returns to full market value, with the cap restarting for a qualifying new owner. If you want the full picture of why a buyer’s bill can differ from the seller’s, read our guide on why a buyer’s property tax bill can be higher than the seller’s.
What the Savings Could Look Like in Dollars
Calculate a potential saving from the additional exempt assessed value and the applicable non-school millage. For an explicitly hypothetical example, $100,000 of additional exemption at 10 mills would reduce that portion of an annual bill by $1,000, assuming unchanged rates and enough taxable value. Your actual result depends on eligibility, assessed value, levies, and other exemptions. Compare estimates from the property appraiser rather than treating this example as a Sarasota tax quote.
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Why Newcomers Should Read the Residency Rule Closely
For qualifying new residents under the proposal, the non-school exemption starts at $50,000, with inflation adjustment beginning in 2028; the larger exemption begins in the fifth exemption year. That is not a gradual annual increase to $250,000. For example, if 2028 is the first exemption year, 2032 is the fifth. Confirm residency and eligibility with the county property appraiser. The Santa Rosa County Property Appraiser’s explanation distinguishes this from the rule for residents established by the end of 2026.
Do Local Agents Think It Will Move the Market?
No one can establish the future market effect before the vote. RASM’s Q3 2026 report reports single-family supply of 3.7 months in Sarasota and 3.9 in Manatee at quarter-end. That is market context, not a forecast of the amendment’s effect. Make the purchase decision using the actual property, financing, insurance, and ownership budget.
How to Protect Yourself Before You Commit
- Price the house you can afford today: Run your payment with your county’s current tax estimate, then separately with a lower figure to see the upside. Do not make the lower figure the only case.
- Estimate taxes on the purchase price, not the seller’s bill: The seller’s bill may reflect a capped assessed value that resets after closing. Our guide to Florida property tax reassessments for buyers walks through the math.
- Confirm your residency timeline: Ask the county property appraiser which proposed exemption schedule and first eligibility year would apply. Do not confuse the fifth exemption year with five years after buying.
- Mark the March 1 homestead deadline: The Manatee County Property Appraiser says the application is due by the March 1 deadline of the year the exemption is to begin, and you must establish permanent Florida residency on or before January 1.
- Check portability if you already own in Florida: Under Florida law (Fla. Stat. 193.155(8)), a new homestead must be established within 3 years of leaving the prior one and the portable benefit is capped at $500,000. See how Florida homestead portability works.
- Get real insurance and association quotes: Insurance premiums, flood coverage, and HOA or condo dues are separate from the amendment, so quote them before you decide that tax relief makes a house affordable.
Let’s continue this conversation.
Call me at 941.400.8735 or schedule a 15-minute call. I’ll tell you what I would look for.
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How I Help Buyers Decide Between Waiting and Buying
My job is to put the numbers for a specific home in front of you under both outcomes, so the decision rests on your budget and timeline instead of on a ballot headline. If you are relocating, I will also help you work out which residency rule applies to you before you write an offer.
Questions Clients Actually Ask
When is the Amendment 3 vote?
Amendment 3 is on the Nov. 3 general election ballot, and Sarasota Magazine reports it needs at least 60 percent approval.
When would I see lower tax bills if it passes?
The amendment would take effect January 1, 2027, and Sarasota Magazine reports the first changes would appear on property tax bills issued in November 2027.
Does Amendment 3 eliminate my property taxes?
No. The larger exemption applies to non-school levies, the school exemption stays at $25,000 of assessed value, and a home is still reassessed to market value after a sale.
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Does it apply if I am moving to Florida from another state?
The proposal treats qualifying new residents differently: an initial $50,000 non-school exemption, with its own inflation adjustment, and the larger exemption beginning in the fifth exemption year. Verify your residency and exemption dates with the county property appraiser.
Should I wait to buy until after the vote?
It depends on your payment, timeline, and how much of the decision rests on tax savings. Run both scenarios on the actual home, and talk with a licensed professional about your own situation.
What To Do Right Now
Before you decide to wait, ask me for a side-by-side of the property tax on any home you are considering, with and without the larger exemption, and check your residency timeline with your county property appraiser. Call me at 941.400.8735 and I will walk through it with you.
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Michael Renick · Licensed Florida Real Estate Broker
License #BK3241900 · Verify on Florida DBPR
Mangrove Realty Associates Inc / Team Renick · Serving Sarasota & Manatee Counties since 2011
About the Author
I’m Michael Renick — a Florida West Coast broker with over 15 years guiding families through some of the biggest decisions of their lives. I’ve built my practice on hard work, honesty, and total transparency. No shortcuts, no spin — just straight answers, deep market knowledge, and the dedication my clients deserve from start to close.
Equal Housing Opportunity. This article is general information only, not legal, tax, insurance, or financial advice. Market conditions, insurance requirements, and costs vary by property and transaction; confirm your specific situation with the appropriate licensed professional. Michael Renick, Licensed Florida Real Estate Broker, License #BK3241900, licensed by the Florida Department of Business and Professional Regulation (DBPR). Mangrove Realty Associates Inc — each office is independently owned and operated.
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