Proposed Florida Property Tax Changes on the 2026 Ballot
Could Florida homeowners see a major reduction in their property taxes?
Possibly. Florida voters will decide in November 2026 whether to approve a constitutional amendment that would significantly change Florida's homestead property tax exemptions. Because this is still a proposal, nothing changes unless at least 60% of Florida voters approve it.
Before We Begin
I want to start by saying that I am not a CPA, attorney, or tax advisor. The information I'm sharing is based on my understanding of the proposed amendment, and any opinions I express are my own. If you need advice specific to your situation, I encourage you to speak with a qualified professional.
What Is Being Proposed?
If Florida voters approve this constitutional amendment, the homestead exemption for non-school property taxes would increase substantially.
The proposal would increase the current homestead exemption to $150,000 beginning in 2027. Then, in 2028, it would increase again to $250,000 for qualifying homeowners.
The proposal also creates a framework that could allow future increases to the exemption over time if authorized under Florida law.
One important thing to remember is that school property taxes are not part of this proposal. Those taxes would continue to be assessed separately.
What About New Florida Residents?
Another part of the proposal is a waiting period for people who establish Florida residency after the effective date.
Under the current proposal, individuals who become Florida residents after the effective date would generally have to wait five years before qualifying for the expanded homestead exemption. During that time, they would remain under the current homestead exemption rules.
How Could This Affect Rental and Business Properties?
One part of the proposal that hasn't received as much attention involves non-homestead properties, such as rental homes, commercial buildings, and many business properties.
Currently, the assessed value of these properties can generally increase by up to 10% per year for tax purposes. If this constitutional amendment is approved, that annual assessment cap would be reduced to 5% per year for non-school property taxes.
In my opinion, this could be a positive change for Florida businesses and property owners because it would make future property tax increases more predictable. For owners of rental properties, slower increases in assessed value may also help reduce one of the many rising costs associated with owning investment real estate. Of course, property taxes are only one expense, and there is no guarantee that lower assessment increases would translate into lower rents.
My Thoughts
This is where I separate fact from opinion.
Personally, I'm not completely on board with every part of this proposal. While I certainly appreciate the effort to reduce the tax burden on Florida homeowners, I also understand there are many questions about how local governments will replace that revenue and how services could be affected.
One thing I do strongly believe is that once someone reaches retirement age—especially in their mid-to-late 60s—and is living on a fixed income, they should have much greater protection from losing their home because of property taxes.
Many retirees have spent decades paying off their mortgage, maintaining their property, and contributing to their communities. It has always seemed unfair to me that someone could own their home free and clear, yet still face the possibility of losing it because they can no longer afford increasing property taxes.
That's simply my opinion, but it's one of the first thoughts that came to mind when I read this proposal.
What Should Homeowners Do?
Right now, there is nothing you need to do other than stay informed.
The proposal has not become law. Florida voters will have the final say in November 2026, and it must receive 60% voter approval before any of these changes take effect.
As more details become available, I'll continue sharing updates and explaining what they could mean for homeowners here in Northeast Florida.
Final Thoughts
Property taxes affect nearly every homeowner, so it's worth understanding what's being proposed before heading to the polls. Whether you support the amendment or not, being informed helps you make the best decision for your family.
Regardless of how you feel about this proposal, I encourage every Florida homeowner to read the amendment before voting. Property taxes affect almost everyone who owns a home, and understanding both the potential benefits and possible drawbacks will help you make an informed decision. As a Realtor, my job isn't to tell you how to vote—it's to help you understand how proposed changes could affect homeownership here in Florida.
As always, I'll continue keeping you updated on changes that affect our local real estate market.
If you have questions about buying or selling a home anywhere in Jacksonville, St. Johns County, Fleming Island, Orange Park, Nocatee, Ponte Vedra, St. Augustine, or anywhere else in Northeast Florida, I'd be honored to help.
Michael Nobles
CrossView Realty