What does Florida’s new property tax proposal mean for homesteaded properties?
Florida lawmakers approved a property tax proposal during the June 2026 special session that would place a constitutional amendment on the November ballot. If approved by voters, the measure would increase property tax exemptions for qualifying homesteaded properties and could reduce part of the tax burden tied to non-school local property taxes.
What Passed During the Special Session?
On June 2, 2026, the Florida Legislature approved a proposed constitutional amendment known as “Save our Homes from Excessive Property Taxes.” The proposal passed the Senate 30-9 and the House 75-26, sending the issue to Florida voters for consideration in November.
Because this is a constitutional amendment, it does not become law automatically. Florida voters would need to approve it with at least 60% support for it to take effect.
What Would Change for Homesteaded Properties?
The proposal focuses on properties that qualify for Florida’s homestead exemption, which generally applies to a homeowner’s primary residence.
According to the proposal, eligible homesteaded properties would receive a new exemption structure beginning in 2027. The exemption would rise to $150,000 in 2027 and $250,000 in 2028, with future adjustments tied to inflation.
The proposal also directs lawmakers to create a process that could allow further increases over time, potentially moving toward broader reduction or elimination of certain homestead property taxes in the future.
What Taxes Would Still Apply?
One important detail is that the proposal was amended so the expanded exemption would apply to non-school property taxes. That means the school district portion of a homeowner’s property tax bill would not be eliminated under the amended proposal.
In practical terms, the measure is aimed at reducing taxes levied by local governments such as counties, cities, and certain special districts, while keeping school district taxes separate.
Does This Apply to Every Property?
No. The proposal is specifically tied to homesteaded properties.
It would not eliminate property taxes for non-homesteaded properties such as second homes, vacation properties, rental properties, or commercial real estate. The proposal also includes a separate change that would lower the annual assessment increase cap for non-homestead property from 10% to 5%.
There is also language addressing certain new Florida residents, including a potential waiting period before qualifying for the enhanced homestead exemption.
Why Is This Going to Voters?
Property tax rules are part of Florida’s constitutional structure, so major changes require voter approval. The Legislature’s action during the special session placed the proposal on track for the November ballot, but the final decision will be made by voters.
For homeowners, buyers, and sellers, the key takeaway is that nothing changes immediately. The proposal must first be approved by at least 60% of Florida voters.
What Should Homeowners Watch Next?
If you own a homesteaded property in Florida, this proposal is worth following because it could affect future tax bills if approved. However, the exact impact would depend on several factors, including your property’s assessed value, local millage rates, and how much of your current tax bill comes from non-school property taxes.
For buyers, this is also something to understand before making long-term ownership plans. Property taxes are one part of the overall cost of owning a home, along with insurance, maintenance, utilities, and any applicable association fees.
Final Takeaway
Florida’s newly approved property tax proposal is not an immediate tax change. It is a proposed constitutional amendment that voters will decide in November. If approved, it would increase exemptions for qualifying homesteaded properties and reduce certain non-school property tax obligations, while leaving other parts of the property tax structure in place.
Have Questions About What This Could Mean for You?
If you’re wondering how this proposed property tax change could affect your plans to buy, sell, or stay in your current home, reach out to me. As your real estate professional, I can help you look at the bigger picture, understand what factors may influence your housing costs, and connect you with the right resources for property-specific or tax-related questions.
For specific tax advice, always consult a qualified tax professional or your county property appraiser’s office.