Florida Property Tax Amendment: Potential Relief for Homeowners

Florida lawmakers have advanced a significant measure to reduce property taxes through a proposed constitutional amendment on the November 2026 ballot. This amendment aims to increase the homestead exemption for primary residences, potentially eliminating non-school property taxes for many Florida homeowners. If passed, House Joint Resolution (HJR) 1-F would incrementally raise the homestead exemption, beginning with an increase from $50,000 to $150,000 on January 1, 2027, eventually reaching $250,000 in 2028. This transition offers residents a pathway to potentially zero non-school property taxes over time.

Real estate experts highlight this amendment as appealing to individuals from high-tax states contemplating relocation to Florida. Lourdes Alatriste of Douglas Elliman stated that the proposal could attract more families, retirees, and remote workers to establish Florida residency. Furthermore, the amendment seeks to lower the annual assessment increase cap on non-homestead properties, among them many commercial properties, from 10% to 5% per year, providing extra tax relief. Importantly, school board taxes remain unaffected, necessitating local governments to allocate remaining tax revenues toward essential services such as police, fire rescue, EMS, infrastructure, and flood-control projects.

While proponents argue this amendment provides necessary financial relief for homeowners amid rising costs, there are concerns about how local governments and school districts will handle the potential tax revenue reduction. Critics emphasize the importance of understanding the amendment's impact on public services and schools. "The proposal has a strong chance of gaining broad support if lawmakers can address concerns regarding public safety, infrastructure, and municipal budgets," noted Mick Duchon of The Corcoran Group.