Florida Legislature Proposes Major Tax Break for Homeowners, Excludes Newcomers
The Florida Legislature has passed a constitutional amendment proposal aimed at providing significant property tax relief to homeowners. The amendment, backed by Governor Ron DeSantis, will be on the November 2026 ballot. It proposes increasing the homestead exemption from $50,000 to $150,000 in 2027, and then to $250,000 in 2028. This change could potentially eliminate non-school property taxes for many homeowners. However, the amendment includes a stipulation that only residents who establish primary residency in Florida by December 31, 2026, will be eligible for the full exemption when it takes effect. New residents after this date will have to wait four years to qualify. The amendment also reduces the annual assessment increase cap on non-homestead properties from 10% to 5%, excluding school board taxes. 
