Florida Just Might Make History

Posted by JD Sanchez | eXp Luxury |  SE Florida and Georgia

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If you own a home in Florida, you're going to want to pay attention.

On June 2, 2026, the Florida Legislature passed a sweeping constitutional amendment (HJR 1F) that would dramatically expand the homestead property tax exemption for primary residences. Backed by Governor Ron DeSantis, the measure now heads to Florida voters on the November 3, 2026 general election ballot. For it to become law, it will need 60% voter approval.

Here's what you need to know.

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What the Proposal Actually Does

Right now, Florida homeowners with a homestead exemption receive a maximum of about $50,000 off the assessed value of their primary home , meaning that portion of the home's value is untaxed. Under the new amendment:

• 2027: The homestead exemption jumps from $50,000 to $150,000
• 2028: It increases again to $250,000

That's a fivefold increase in the exemption over just two years.

Important note: The expanded exemption does not apply to school district taxes. Lawmakers specifically amended the plan to protect school funding before passing it.

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Who Benefits Most?

If you own a home with an assessed value of $250,000 or less, and the amendment passes, you could effectively pay zero non-school property taxes starting in 2028. Governor DeSantis has noted that at the $250,000 threshold, a significant portion of Florida homeowners would be fully covered.

For homeowners in Broward and Palm Beach County — where median home values often sit well above that mark — the savings are still significant. Imagine shaving $150,000 to $250,000 off your taxable assessed value. Depending on your local millage rate, that could mean hundreds to thousands of dollars back in your pocket every year.

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One Catch for New Residents

If you move to Florida after January 1, 2027, you'll need to establish five years of Florida residency before qualifying for the new super exemption. Until then, you'd receive the current exemption. So if you're thinking about buying and making Florida your primary home, sooner is better. This is an attempt to keep home prices fair and to avoid a rush of non locals trying to benefit. 

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What About Local Services?

This is where the debate gets real. If approved, the amendment is projected to reduce local government revenue statewide by more than $8.4 billion annually. Cities and counties have raised concerns about what that means for services like roads, fire departments, parks, and more. Some areas, like Seminole County, estimate losses in the hundreds of millions.

Supporters argue that local governments have been growing their budgets at an unsustainable rate and that taxpayers deserve relief. Critics say the burden will shift to renters and businesses, who don't benefit from homestead exemptions but still rely on local services.

Both sides raise valid points.

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What This Means for the Real Estate Market

As a licensed broker and loan originator serving South Florida, I see a few key implications:

1. Homeownership becomes more affordable long-term. Lower annual property tax bills reduce the true cost of ownership, which may bring more buyers off the fence.

2. Primary residence demand could increase. Because the expanded exemption only applies to homestead properties, owning your primary home in Florida becomes even more financially advantageous compared to renting or investing elsewhere.

3. The "move to Florida" trend gets stronger. Florida already has no state income tax. If voters approve this amendment, the state moves closer to having no income tax and no property tax on most primary residences ,  a combination no other state can offer.

4. Watch the November ballot closely. The 60% threshold is a high bar. Staying informed and encouraging your network to vote , whichever way they lean, matters.

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My Take

Florida is making a strong case for homeownership. Whether you're a first-time buyer, a longtime homeowner, or an investor considering your next move, this is one of the most significant property tax developments in Florida in decades. 

If you have questions about how this could affect your buying power, your property taxes, or what it means for the local market here in Broward and Palm Beach County, I'd love to connect.

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JD Sanchez
Broker Associate | eXp Luxury
NMLS #2167441 | FL-BK3307233 | GA-453429
📞 561.302.7681
✉️ JD@JDSanchezRealEstate.com
🌐 jdsanchezrealestate.com

This post is for informational purposes only and does not constitute legal or tax advice. Please consult a licensed CPA or attorney for guidance specific to your situation.