Florida Considers Property Tax Exemption Linked to Homeowners Insurance

Florida lawmakers are considering a significant property tax amendment, HJR 209, potentially on the 2026 ballot, which would allow homeowners a $200,000 exemption on their homestead property's assessed value from non-school property taxes, contingent on having full multiperil property insurance. Residents in Fort Myers have expressed support, noting that this exemption could help offset rising insurance premiums and provide financial relief for home maintenance and unexpected repairs. The proposal requires homeowners to maintain comprehensive insurance coverage, addressing the increased costs of flood and windstorm policies that may no longer be included in standard homeowners insurance. An amendment by the House Ways and Means Committee aims to protect funding for firefighters, first responders, and law enforcement, though critics worry about the potential impact on other essential city services due to reduced property tax revenues. Local municipalities, including Fort Myers and Charlotte County, are actively monitoring the legislative process, with Charlotte County estimating a potential $45 million annual reduction in property tax revenue. Approval of the amendment requires passage through committee and 60% voter approval in the November 2026 election, with proponents suggesting the measure could assist in retaining residents amid rising insurance costs driving some to leave Florida.