Florida's Property Tax Amendment Is Headed to the Ballot
Here's What Every Homeowner Needs to Know.
If you own a home in Florida, or you're thinking about buying one, there's a constitutional amendment on the November 2026 ballot that could fundamentally change how much you pay in property taxes each year. It's one of the most significant shifts in Florida's tax structure since the 1990s, and the details matter more than the headlines suggest.
Here's a clear-eyed look at how we got here, what the amendment actually does, and why the timing of your move to Florida could mean a difference of tens of thousands of dollars.
A Brief History of Florida's Homestead Exemption
Florida has protected homeowners from property taxes for decades, but the modern framework took shape in two key moments.
The first came in 1992, when Florida voters approved Amendment 10, commonly known as "Save Our Homes." This provision capped annual increases in the assessed value of a primary residence (homestead property) at 3% or the rate of inflation, whichever is lower. It took effect in 1995 and was designed to shield long-term residents from being taxed out of their homes as property values climbed.
The second came in January 2008, when voters passed Amendment 1, which added a second layer of homestead protection. That measure created an additional $25,000 exemption applied to the assessed value between $50,000 and $75,000, which does not apply to school taxes. Combined, Florida homesteaded property owners have enjoyed an exemption of up to $50,000 on their taxable value for most local levies.
Those two amendments served their purpose for a long time. But as Florida property values surged through the pandemic years, the pressure to do more has been building.
Governor DeSantis's Original Proposal: Full Elimination
Earlier this cycle, Governor Ron DeSantis made headlines with a far bolder idea: eliminate property taxes entirely for Florida homeowners. His pitch was straightforward. "Property taxes effectively require homeowners to pay rent to the government," DeSantis said, and he wanted to end that completely for primary residences.
The proposal had populist appeal, but it ran into significant political resistance. Eliminating homestead property taxes entirely would have removed an estimated $20 billion or more annually from local government budgets. Even within the Republican-controlled legislature, that level of disruption was difficult to reconcile with the practical realities of funding police, fire departments, roads and local services.
The House and Senate took notably different approaches. The House passed a proposal early in 2026 that would have phased out all non-school property taxes for homesteads within a decade. The Senate, led by President Ben Albritton, pushed for a more measured path. The two chambers spent months at an impasse, with the regular session ending in March 2026 without a deal. A planned special session in April was delayed further. The debate finally came to a head in late May, when the Governor unveiled a revised proposal designed to bridge the gap.
The Plan That Passed: A Phased $250,000 Exemption
On June 2, 2026, the Florida Legislature approved House Joint Resolution 1-F during a special session, sending a constitutional amendment to the November 2026 ballot. If approved by 60% of voters, here's what it does:
January 1, 2027: The homestead exemption rises from $50,000 to $150,000 for all levies except school district taxes.
January 1, 2028: The exemption increases again to $250,000, then adjusts annually for inflation.
Long-term: The amendment establishes a framework requiring the Legislature to create a schedule for full elimination of non-school homestead property taxes over time.
Importantly, the expanded exemption does not touch school district levies. That distinction is written directly into the amendment and into the ballot language itself.
The amendment also protects small businesses by reducing the annual cap on assessment increases for non-residential properties from 10% to 5%, beginning January 1, 2027.
The Context: Why Taxpayers Are Frustrated
The push for relief isn't happening in a vacuum. Florida's property tax collections have grown substantially over the past several years, far outpacing population growth and inflation.
Statewide, property tax revenue was approximately $31 billion in 2019. By 2024, that figure had grown to roughly $55 billion, a gain of nearly $24 billion in five years. To put that in local terms, Broward County alone saw a 57% increase in property tax revenue between 2019 and 2024. Miami-Dade followed at nearly 50%.
County budget growth has been equally dramatic. In Hillsborough County, for example, the General Fund Budget grew by more than 56% between fiscal years 2019-2020 and 2024-2025, a period during which population grew modestly by comparison. Florida's Chief Financial Officer Blaise Ingoglia pointed to analysis showing Hillsborough's spending exceeded population and inflation benchmarks by roughly $278 million.
For homeowners who purchased before 2020, the Save Our Homes cap has limited their assessed value increases. But newer buyers, those who purchased at elevated 2021 through 2024 prices, have faced assessed values that reset at purchase and climbed steadily since. For those homeowners, the burden has been real.
The Financial Impact: Real Savings, Real Trade-offs
If the amendment passes, the savings for established Florida homeowners will be meaningful. The exemption shields the first $250,000 of your home's assessed value from non-school tax levies. Only the amount above that threshold remains taxable.
For context, at a combined county and municipal millage rate of roughly 10 mills (a common benchmark across many Florida markets), a $250,000 exemption translates to approximately $2,500 per year in savings compared to today's $50,000 exemption. In higher-millage areas or on homes with larger assessed values, the relief is proportionally greater.
Under the proposed amendment, roughly 60% of Florida homesteaded properties would owe zero non-school property taxes by 2028. At the Legislature's discretion, that figure could eventually reach over 90% as the exemption is raised further.
There are, however, legitimate concerns about the trade-offs. Statewide projections suggest the $250,000 exemption would reduce county revenues by approximately $4.8 billion annually. Local governments will need to adjust, and some analysts warn that shift could ultimately be felt in service levels or through pressure on renters and commercial property owners.
The Five-Year Clock: Why December 31, 2026 Matters
This is the provision that has the most direct relevance for anyone considering a move to Florida, and it deserves close attention.
Under the approved amendment, the full $250,000 "super exemption" applies to Florida residents who established their primary residence here on or before December 31, 2026.
Anyone who establishes Florida residency on or after January 1, 2027, will start with a $50,000 exemption for the first four years. Beginning in their fifth year of Florida residency, they become eligible for the full $250,000 exemption.
The financial difference is significant. A buyer who establishes residency in Florida by December 31, 2026 would receive the $150,000 exemption in 2027 and the full $250,000 exemption in 2028. A buyer who closes and files for homestead on January 1, 2027, or later, would wait until roughly 2031 or 2032 to receive the same benefit.
At a conservative millage rate, missing the 2026 cutoff could mean forgoing $7,500 to $10,000 or more in cumulative tax savings over that five-year window. In higher-value markets like Palm Beach County and the surrounding coastal communities, the number could be considerably higher.
For buyers who are on the fence about timing, this is a concrete reason to move that decision forward.
Addressing the School Funding Myth
One of the most common concerns circulating about this amendment is that it will cut funding for Florida's public schools. That concern, while understandable, is based on a misreading of the amendment.
The expanded homestead exemption explicitly does not apply to school district levies. This is stated clearly in the legislation and repeated in the ballot language itself. Schools are carved out. A homeowner whose property is fully exempt from county and municipal property taxes will still pay school district taxes.
An earlier version of the Governor's proposal, one that did not make it through the legislative process, would have included school district levies. That version was set aside precisely because of concerns about education funding. The final amendment that passed protects school funding as a matter of constitutional requirement.
The amendment goes further, requiring that remaining local property tax revenue be directed to core public services: public safety including law enforcement, fire service and emergency medical services; education and public schools beyond what school board taxes cover; road and bridge construction and maintenance; flood control and natural resource projects; local bond obligations; and retirement benefits for local government employees.
In other words, the amendment not only exempts schools from the exemption. It also mandates that whatever property tax revenue remains must fund essential services first.
What Comes Next
The amendment will appear on the November 2026 General Election Ballot as "Save Our Homes from Excessive Property Taxes." It requires 60% approval from Florida voters to take effect. If it passes, January 1, 2027 becomes the effective date.
Between now and then, the December 31, 2026 residency deadline creates a genuine window of opportunity for buyers who have been considering a move. Filing for homestead exemption is done with your county property appraiser's office, and you must establish Florida residency by January 1 of the year for which you are claiming the exemption.
If you have questions about how this amendment might affect your property taxes specifically, or how to position a purchase to qualify for the full exemption, reach out. The right timing decisions made today can translate to years of meaningful savings.
This post is intended for informational purposes and reflects publicly available legislative information as of June 2026. For guidance specific to your tax situation, consult a qualified tax advisor or your county property appraiser's office.
