Florida voters will decide a property tax amendment on Nov. 3 that would raise the homestead exemption
A joint resolution passed in Florida's June 2026 special session would raise the non-school homestead exemption to $150,000 in 2027 and $250,000 in 2028 and cut the non-homestead assessment cap from 10% to 5%. It needs 60% of the vote.
Florida's Legislature passed CS/HJR 1-F, titled "Save our Homes from Excessive Property Taxes," on June 2, 2026, by votes of 75-26 in the House and 30-9 in the Senate. It goes to voters at the November 3, 2026 general election. If at least 60% of voters casting a ballot on it approve, it takes effect January 1, 2027.
Homestead exemption: for people who hold permanent residence as of December 31, 2026, the exemption from non-school levies would cover up to $150,000 of assessed value starting January 1, 2027, rising to $250,000 starting January 1, 2028, then adjusting for inflation from 2029. People who establish residence on or after January 1, 2027 would get up to $50,000, and could qualify for the higher exemption in their fifth year. From 2030, a county or city could shorten that five-year wait by a two-thirds vote if there is a critical local need.
Other changes: the annual assessment growth limit for non-homestead residential and non-residential property would fall from 10% to 5% for non-school levies. The resolution would also limit how counties and municipalities may use property tax revenue to listed purposes such as public safety, education, infrastructure, flood control, debt service, employee retirement benefits and government operations.
School levies are not covered by the larger exemption. The Florida Senate's summary says its information is unverified and that official journals should be consulted for official purposes.
For agents, the proposal bears on how buyers and sellers talk about carrying costs, especially for out-of-state buyers and new Florida residents, who would start with the smaller exemption. Whether it passes is not known until the vote.