The Florida Senate on June 2, 2026, passed House Joint Resolution 1-F, completing legislative approval of a constitutional amendment that would sharply raise the homestead exemption for local, non-school property taxes. The measure, a priority of Gov. Ron DeSantis, goes to voters on November 3, 2026, and needs at least 60% support to take effect. It treats long-time residents, newcomers and second-home owners very differently.
What the amendment would change
According to the Senate's announcement, homeowners would receive a $150,000 exemption from non-school levies on January 1, 2027, rising to $250,000 on January 1, 2028, and indexed to inflation after that. Today's homestead exemption totals $51,411, made up of a $25,000 exemption that applies to all taxes and a second, inflation-adjusted $26,411 exemption for non-school levies, according to the Pinellas County Property Appraiser.
School taxes are carved out. Only the first $25,000 of a home's value would remain exempt from school millage, so the savings apply to county, city and other non-school levies. The amendment keeps Save Our Homes, the 3% annual cap on assessment growth for homesteads, and does not change portability.
For property that is not a homestead, including rentals, commercial buildings and second homes, the annual cap on assessment increases for non-school taxes would drop from 10% to 5% starting in 2027. The resolution also restricts how local governments spend remaining property tax revenue and sets up a framework for further relief, up to full elimination, under procedures the Legislature would set later.
Who is affected
The full benefit is reserved for people who are Florida residents on or before December 31, 2026. Those who establish residency on or after January 1, 2027, would start with a $50,000 exemption, adjusted for inflation from 2028, and would qualify for the larger exemption after holding homestead status for four years. Some summaries describe this as a five-year wait because the higher exemption begins in the fifth year.
Owners of Florida vacation homes who are domiciled elsewhere would not get the new exemption at all, since second homes are non-homestead property. They would benefit only from the lower 5% cap on assessment growth.
The Tax Foundation estimates local governments would lose $4.6 billion in the first year and $8.4 billion in the second. Homestead property accounts for 46.6% of just value statewide but only 36.1% of taxable value, which means the cost of the change would weigh on how local budgets are balanced across other property.
The after-tax math
Example, using an illustrative non-school millage of 12 mills, or $12 per $1,000 of taxable value. Actual rates vary widely by county and city.
| Homestead, non-school taxes | Exempt value | Annual non-school savings vs. today |
|---|---|---|
| Current law | $51,411 | none |
| 2027, existing resident | $150,000 | about $1,180 |
| 2028, existing resident | $250,000 | about $2,380 |
| 2028, resident arriving in 2027 | about $50,000 | roughly none |
In this example, a family that establishes residency in early 2027 rather than late 2026 would give up roughly $2,400 a year of savings for four years, or close to $10,000, before inflation adjustments. For a high-value home, the cap is fixed in dollars, so the percentage savings shrink as value rises. Homeowners who itemize federal deductions would also see a smaller state and local tax deduction, though many high earners are already constrained by the federal cap on that deduction.
Points worth discussing with an advisor
- For households already planning a move, how the December 31, 2026, residency line interacts with domicile tests in the state being left, which often look at far more than a homestead filing.
- For second-home owners, whether the lower assessment cap materially changes carrying costs, given that the new exemption would not apply.
- For owners of rental or commercial property, how local governments might adjust millage rates to replace lost revenue.
What to watch
The November 3 vote is the decisive event, and the 60% threshold is a high bar. If the amendment passes, the Legislature still has to write the procedures for further relief, and county property appraisers will publish guidance on how the newcomer rule and inflation adjustments are administered.
Sources
- First reported Senate Passes Historic $250,000 Property Tax Cut for Florida Homeowners — The Florida Senate
- Florida Property Tax Proposal: 2026 Details and Analysis — Tax Foundation
- Proposed 2026 Florida Property Tax Amendment 3 FAQs — Pinellas County Property Appraiser
After TAX is an independent publication. Articles are general information, not tax, legal or investment advice. Consult a licensed professional about your situation.
