If you own a home in Florida, you probably pay attention when someone starts talking about property taxes.
And there is a pretty big conversation happening right now.
A proposed constitutional amendment will appear on Florida’s November 3, 2026, general election ballot. If approved by at least 60% of voters, it would make significant changes to Florida’s property tax system beginning in 2027.
So what exactly is being proposed?
The Homestead Exemption Could Get Much Bigger
The biggest change for homeowners would be an increase to the homestead exemption for the non-school portion of property taxes.
Under the proposal, the exemption would increase to:
$150,000 in 2027 and then $250,000 in 2028
The amount would also be adjusted annually for inflation beginning in 2029.
One important detail: the increased exemption would apply to the non-school portion of property taxes. It would not eliminate the portion of property taxes that supports school funding.
What About People Who Own Rental or Investment Property?
The proposal isn’t limited to homesteaded properties.
For non-homestead properties, including certain rental, second-home, and commercial properties, the proposed amendment would reduce the annual assessment increase cap from 10% to 5%, beginning January 1, 2027.
That could be particularly relevant to Florida investors and property owners who don’t qualify for homestead exemption.
There Are Some Additional Changes
The amendment would also create a framework for future property tax reductions and establish rules governing how certain local governments use remaining property tax revenue.
Special districts would also be allowed to provide additional property tax relief with voter approval.
There are also specific provisions affecting people who become Florida residents after 2026, including a five-year timeline before receiving the full expanded exemption, subject to constitutional requirements.
So, Is It Happening?
Not yet.
This is a proposed constitutional amendment, which means Florida voters get the final say.
The amendment needs approval from at least 60% of voters in the November 3 election to pass. If approved, the changes would take effect January 1, 2027.
And there’s been some recent movement surrounding the proposal. A judge ruled that the original ballot language was misleading, resulting in revised language for voters. The current title is “Increased Homestead Exemption; Lower Cap on Increases in Non-Homesteaded Property Assessments.”
What Should Homeowners Do Right Now?
For now, nothing changes.
Don’t adjust your property tax budget based on a proposal that hasn’t passed.
But if you’re a Florida homeowner, buyer, or investor, it’s definitely something worth keeping an eye on as November approaches.
Property taxes are a major part of the cost of owning real estate, and changes to the state’s tax structure could affect everything from monthly housing costs to investment decisions.
We’ll be watching it right along with you.
Thinking about buying or selling a home in Florida? Blue Brick Title & Escrow is here to help you navigate the closing process and understand the costs that come with your transaction.
This article is for general informational purposes only and is not tax, legal, or financial advice. The proposed amendment is subject to voter approval, and the information above may change before the election.
Sources:
Florida Department of State, Division of Elections
Florida Department of State, Constitutional Initiatives Database
Florida Senate, CS/HJR 1-F Bill Summary
Florida Senate, CS/SJR 2-F Bill Analysis
Florida Senate, Proposed Constitutional Amendment Text