Florida lawmakers have passed a constitutional amendment, backed by Governor Ron DeSantis, that could provide significant long-term property tax relief for homeowners if approved by voters in the November 2026 general election. The proposed amendment, House Joint Resolution (HJR) 1-F, would increase the homestead exemption for primary residences from the current $50,000 to $150,000 on January 1, 2027, and then to $250,000 in 2028. For some homeowners, this could eliminate non-school local property taxes entirely, as the exemption could cover the full taxable value of their homes for these taxes [1].
The measure is designed to appeal especially to families, retirees, and remote workers considering establishing permanent residency in Florida, with real estate professionals noting that it could strengthen Florida's appeal compared to high-tax states in the Northeast and elsewhere. According to Douglas Elliman’s Nick Malinosky, the proposal adds to Florida's competitive advantages, while Lourdes Alatriste and Mick Duchon emphasized the potential for long-term savings and increased financial flexibility for homeowners [1].
However, there is a significant catch for newcomers: only residents who establish their primary Florida residency on or before December 31, 2026, will be eligible for the expanded exemption when it takes effect. Those who move to Florida after that date must wait four years before qualifying for the full $250,000 exemption [1].
Market implications are substantial, as the proposal is seen as a way to reduce the tax burden on primary residences and provide meaningful relief amid rising costs for insurance, maintenance, and other housing expenses. Real estate agents report that buyers and homeowners are focused on the affordability benefits, viewing the exemption as a way to lower long-term ownership costs regardless of home value [1].
A Florida Senate press release described the amendment as setting up the framework for a full tax exemption over time, signaling the potential for ongoing property tax reductions if the measure is approved by voters [1].
CONCLUSION
Florida's proposed constitutional amendment could deliver historic property tax relief for homeowners, especially those who establish residency before the end of 2026. The measure is expected to boost Florida's attractiveness for permanent relocation, though newcomers after the deadline will face a waiting period. If approved by voters, the amendment could have a high market impact by reducing ownership costs and increasing financial flexibility for residents.