FloridaExempts first $250,000 of homestead value from property tax
Reduces property tax bills for many homeowners while shrinking local tax revenue available for services, potentially affecting public services and budgets.
What it does
Increases the homestead exemption for levies other than school district levies to $150,000 on Jan 1, 2027 and $250,000 on Jan 1, 2028 for eligible homesteads.
Creates a phased, smaller exemption for persons who become Florida residents on or after Jan 1, 2027: $50,000 (non-school levies) initially, with recovery to the larger exemption after the fifth year of exemption.
Limits how counties and municipalities may spend ad valorem tax revenue, requiring revenue be used only for listed 'core' purposes like public safety, education, infrastructure, natural resources, debt service, retirement, and administration.
Changes assessment-growth caps for certain non-homestead real property: sets allowable annual assessment increases to 10% before Jan 1, 2027 and 5% beginning Jan 1, 2027 for the categories in Sections 4(g) and 4(h).
Argument forReduces property tax bills for many long-standing Florida homeowners by exempting a larger portion of homestead value from local, non-school levies.
Argument againstReduces the taxable base for local governments, which could force cuts to services, increases in other taxes or fees, or greater reliance on state funding to make up revenue shortfalls.
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Where it stands
- Introduced
- Passed 1st Chamber
- Passed 2nd Chamber
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Jun 2Laid on Table, companion bill(s) passed, see CS/SB 4-F (Ch. 2026-240), CS/HJR 1-F (Passed)Latest
- Vote recorded A - 682580, Amendment, Second Reading. Result: fail.Upper
- Vote recorded A - 229942, Amendment, Second Reading. Result: fail.Upper
- Vote recorded D - 102912, Amendment, Second Reading. Result: fail.Upper
- Jun 2Substituted CS/HJR 1-F
- Jun 2Read 3rd timeMinor
- Jun 2Amendment(s) failed (102912, 229942, 682580)
- Jun 2Read 2nd timeMinor
- Jun 1CS by Appropriations read 1st time
- Vote recorded Favorable with Committee Substitute. Result: pass.Upper
- Jun 1Placed on Special Order Calendar, 06/02/26
- Jun 1Placed on Calendar, on 2nd reading
- Jun 1Pending reference review -under Rule 4.7(2) - (Committee Substitute)
- Jun 1CS by- Appropriations; YEAS 13 NAYS 5
- Jun 1IntroducedMinor
- May 29On Committee agenda-- Appropriations, 06/01/26, 3:00 pm, 110 Senate Building
- May 28Referred to AppropriationsMinor
- May 28FiledIntroduced
- Jun 2Laid on Table, companion bill(s) passed, see CS/SB 4-F (Ch. 2026-240), CS/HJR 1-F (Passed)Latest
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