Florida homeowners could see their property-tax bills drop sharply starting in 2027 after the state legislature cleared a constitutional amendment that would raise the homestead exemption from $50,000 to $150,000 in its first year, then to $250,000 a year later. The measure, CS/HJR 1-F, has been signed by legislative officers and filed with the Secretary of State, placing the question on the November ballot. If voters approve it, the change would mark the largest single expansion of the homestead exemption in state history and set the stage for what the governor has described as an eventual end to residential property taxes.
Why a $150,000 homestead exemption changes the math for every Florida county
Under current Florida law, owner-occupied primary residences qualify for a homestead exemption of up to $50,000. The first $25,000 applies to all property-tax levies, while the second $25,000 covers only non-school levies. That structure has been in place for years, and rising home values across the state have steadily eroded its real-world benefit for many homeowners.
The amendment approved during the 2026 special session would triple the current cap on January 1, 2027, and then push it to $250,000 on January 1, 2028, according to the filed text of CS/HJR 1-F. Beginning in 2029, the exemption would adjust annually based on the Consumer Price Index, locking in inflation protection that the current statute does not provide. A five-year phase-in provision gives the legislature room to set eligibility timelines through general law.
The practical effect is uneven. A homeowner with a property assessed at $200,000 would see the full taxable value wiped out once the $250,000 threshold takes effect. But a homeowner with a $500,000 assessment would receive the same $250,000 reduction in taxable value, saving more in absolute dollar terms because the exemption shields a larger share of a bigger tax base. That dynamic means the greatest raw savings flow to mid-range and higher-value homesteads, while the relative burden on rental properties, second homes, and commercial parcels within the same taxing district grows. Counties that depend heavily on residential property-tax revenue face the sharpest revenue squeeze, with no guaranteed replacement funding source identified in the amendment text.
What the legislative record shows about the amendment’s structure
Two vehicles carried the proposal through the special session. The Senate filed SJR 2-F with parallel homestead exemption increases and assessment provisions, while the House advanced HJR 1-F. The Senate ultimately substituted to the House vehicle, and the final product cleared both chambers. The Senate Appropriations analysis for SJR 2-F detailed the same $150,000 and $250,000 schedule, resident-eligibility cutoffs, and the option for local governing bodies to modify the five-year phase-in by general law. That analysis confirmed the CPI-based inflation adjustments beginning in 2029 and outlined uniform implementation procedures.
