Seaside Living Group

Property Tax Amendment Explained
What's really on your November ballot

the benefits, the fine print, and what it means for your home.

“Florida got rid of property taxes!” Not yet, and not entirely. What passed in June is a proposed constitutional amendment that goes to voters on November 3, 2026 and needs 60% approval to take effect. Until then, today's rules still apply: the current $50,000 homestead exemption and the 3% Save Our Homes cap are unchanged.

What you Gain:

• A much larger homestead exemption. The exempt portion of your home's value jumps from $50K to $150K in 2027, then $250K in 2028 — on the non-school part of your bill.
• Many owners could owe $0. At the $250K level, the Governor's office estimates roughly 60% of homesteaded owners would pay no nonschool property tax.
• Built-in inflation protection. Starting in 2029, the exemption rises with inflation, so the benefit keeps pace over time.
• A tighter cap for second homes & rentals. The annual assessment increase cap on non-homestead property drops from 10% to 5%, welcome news for snowbirds and investors.

The Fine Points:

• School taxes are carved out. The bigger exemption does not touch the school-district portion, often around 40% of a typical bill, so you keep paying that line.
• New residents wait five years.Starting in 2027, first-time owners must show five years of Florida residency before qualifying for the larger exemption; until then, the current exemptions apply.
• It's a vote, not a done deal. The amendment must clear the 60% threshold in November, and a ballot-language challenge may play out over the summer.
• Effective dates arrive later. Most provisions begin January 1, 2027, only if voters approve. Nothing changes on your bill before then.

If voters approve- how it phases in:

2027: Exemption rises to $150,000 on non-school taxes. Five-year residency rule begins for new owners.

2028 :Exemption climbs to $250,000, the point where most homesteaders could owe nothing on the non-school portion.

2029+: The exemption is indexed to inflation each year, preserving the relief going forward.

The trade-off: Legislative analysts estimate the change would reduce local-government revenue by about $4.6 billion the first year, growing to roughly $8.4 billion a year. Supporters call it overdue relief; critics warn it could pressure local services or shift costs onto sales taxes, fees, and non-homestead property. It's a community decision as much as a personal one, worth weighing before you vote.