It was set around 1999. In the final scene Roman Bridger (
Scott Foley) says something about going to Woodsboro and finding Maureen Prescott (Lynn McRee) "4 years ago". Scream happened in 1996, and Maureen was murdered in 1995, therefore Scream 3 must take place in 1999 as Maureen wasn't alive in 1996. Also, it was filmed in 1999 and released in February 2000.