On June 2, 2026, Florida lawmakers approved a sweeping property tax measure and sent it to the November ballot — giving voters the chance to decide on one of the most significant changes to the state's property tax system in years.
Backed by Gov. Ron DeSantis, the proposal would dramatically expand homestead exemptions for Florida homeowners. Supporters say it could erase property tax bills for many primary residences; critics warn it could squeeze the local budgets that fund schools, police, and fire services. Here's what Florida homeowners, buyers, and sellers need to know.
What the Amendment Would Do
The proposal — filed as CS/CS/HJR 203, "Elimination of Non-school Property Taxes for Homesteads" — would phase in a much larger homestead exemption over two years. Today's standard exemption is $50,000; the measure would raise it to $150,000 in 2027 and $250,000 in 2028.
The headline effect: by fiscal year 2028, owners of primary homes assessed at $250,000 or less could pay zero non-school property taxes.
Key details at a glance:
- Schools are protected. The expanded exemption would not apply to school district taxes, so that portion of your bill would remain.
- Tighter cap on non-homestead properties. The cap on annual assessment increases for vacation homes, investment properties, and commercial real estate would drop from 10% to 5%.
- A residency requirement. Starting after January 1, 2027, first-time homeowners would need to show five years of Florida residency to qualify for the new "super" exemption.
- A path toward further cuts. The proposal opens the door to eventually phasing out homestead property taxes entirely — but only if a future legislature agrees.
- 60% voter approval required for the amendment to take effect.
How It Got to the Ballot
Because property tax rules are written into Florida's constitution, the Legislature can't change them alone — voters have the final say. Lawmakers passed the measure during a special session by votes of 30–9 in the Senate and 75–26 in the House, largely along party lines, with a few crossover votes on each side. To take effect, the amendment now needs 60% voter approval in November.
Supporters vs. Critics
What Supporters Say
- Real savings for primary residents, especially retirees on fixed incomes and working families.
- Greater affordability and stability, helping longtime residents stay in their homes.
- A potential lift for the housing market, since lower carrying costs make ownership more attractive.
What Critics Warn
- The change is projected to cut local government revenue by more than $8.4 billion a year statewide.
- Cities and counties may have to reduce or consolidate public safety and other services.
- The burden could shift toward renters, businesses, and non-homestead owners.
What It Could Mean for You
- Current homeowners: A larger exemption could meaningfully lower your annual bill — though the school-tax portion stays in place.
- Prospective buyers: Lower projected carrying costs may change what you can comfortably afford. Keep the five-year residency rule in mind if you're new to Florida.
- Investors and second-home owners: The tighter 5% assessment cap could affect how non-homestead properties are taxed over time.
- Sellers: Tax considerations can influence buyer demand and how your property is positioned.
Nothing is decided yet — the amendment will officially appear on the November 2026 ballot, and it will take 60% voter approval to become law.
The Bottom Line
As with any major policy shift, the details matter — and so does staying informed before you vote. At Divito Real Estate Group, we help our clients understand how changes like these could affect their homes, their investments, and their plans. If you have questions about how a property tax shift might impact your buying or selling strategy, reach out — we're here to help you make confident, well-informed decisions in any market.
Sources
- CBS Miami — Florida property tax cut plan heads to November ballot
- WCTV — Lawmakers vote to overhaul Florida property taxes
- FOX 13 Tampa Bay — Florida Legislature approves property tax cut plan
- Florida House of Representatives — CS/CS/HJR 203 (2026)
This article is for informational purposes only and does not constitute legal, tax, or financial advice. Proposed legislation is subject to change and requires voter approval. For guidance specific to your situation, please consult a qualified professional.
Questions About Your Property Taxes?
Whether you're buying, selling, or investing in Florida, our team can help you understand how shifting tax rules affect your strategy.
