(from Copilot: Please verify details with official state sources.)
Florida voters will see a proposed constitutional amendment on the November 2026 ballot that would make several significant changes to property taxes beginning in 2027. The amendment affects homestead exemptions, non‑homestead assessment caps, and how local governments may use property tax revenue.
Key Provisions
1. Larger Homestead Exemption (Non‑School Taxes Only)
- Adds a new $150,000 homestead exemption in 2027.
- Increases to $250,000 in 2028.
- Applies only to county and municipal taxes, not school district taxes.
- Starting in 2029, the exemption increases annually with inflation.
2. Residency Requirement for New Floridians
- Individuals who become Florida residents on or after January 1, 2027 must live in the state for five consecutive years before qualifying for the new exemption amounts.
3. Lower Assessment Cap for Non‑Homestead Property
- The annual assessment increase limit for non‑homestead property (such as rentals, second homes, and commercial property) would drop from 10% to 5%.
4. Limits on How Local Governments May Use Property Tax Revenue If approved, counties and municipalities could use ad valorem tax revenue only for:
- Public safety (police, fire, EMS)
- Public schools
- Roads, bridges, and stormwater infrastructure
- Natural resource and flood control projects
- Debt service
- Employee retirement benefits
- General government operations and administration
5. Local Option to Increase Exemptions
- The Legislature must create a uniform process allowing counties, cities, and school districts to increase exemptions up to the remaining taxable value.
Effective Date
If approved by voters, all changes take effect January 1, 2027.