FloridaIncreases homestead exemption and guarantees local public safety funding
This changes property tax relief for homeowners while requiring state action to protect local public safety budgets and potentially affecting state finances.
What it does
Increases the homestead exemption amount for certain non-school local property tax levies (as described in Article VII).
Limits the automatic annual inflation adjustment for that added exemption to the first four years of eligibility.
Excludes certain levies (locally approved taxes, special districts, and municipal service taxing units) from the increased exemption.
Requires local governments to keep public safety funding at the higher of their 2025-26 or 2026-27 budgets starting 2027-28, with inflation adjustments through 2031.
Directs the Legislature to create a state trust fund to replace any lost local public safety funding caused by the exemption change.
Argument forLowers property taxes for many homeowners by increasing the homestead exemption for non-school local levies, giving immediate tax relief.
Argument againstIncreases state fiscal exposure because the trust fund must replace local revenue losses, potentially shifting costs to the state budget or other taxpayers.
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Where it stands
- Introduced
- Passed 1st Chamber
- Passed 2nd Chamber
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Jun 21st Reading (Original Filed Version)Latest
- Jun 2Died in Ways & Means CommitteeMajor
- Jun 2Now in Ways & Means Committee
- Jun 2Referred to Ways & Means CommitteeMinor
- Jun 2FiledIntroduced
Taxes & BudgetPublic SafetyVeterans