Florida Homestead Amendment Could Cut Property Taxes for 60% of Homeowners

The Florida Legislature approved HJR 1F, Governor Ron DeSantis’s "Save Our Homes from Excessive Property Taxes" constitutional amendment, on June 2, 2026. The measure will appear on the November 2026 ballot and requires a 60 % super‑majority to take effect. If approved, the homestead exemption would increase from the current $50,000 to $150,000 in 2027 and $250,000 in 2028, potentially eliminating the non‑school property‑tax portion for roughly 60 % of primary‑residence homeowners. A residency provision would require new homesteads established after Jan. 1 2027 to wait up to five years for the full exemption, prompting buyers to consider closing before the end of 2026.

The projected loss of revenue to local governments exceeds $8.4 billion annually, forcing municipalities to shift the tax burden onto businesses, investment properties and non‑homesteaded rentals. Supporters argue the reform offers historic relief for homeowners, while critics warn of higher rents and reduced funding for schools and services.