06/26/2026
No state income tax. $15.7 billion in reserves. A budget surplus.
And a property tax ballot measure that could eliminate taxes for 60% of homeowners on the November ballot.
Florida is making a serious case.
Here's where things actually stand.
Florida has had zero state income tax for decades. That's not new. What IS new is what just happened in Tallahassee.
On June 2, 2026, the Florida Legislature passed HJR 1F, the "Save Our Homes from Excessive Property Taxes" amendment, with a 75-26 vote in the House and 30-9 in the Senate. It now heads to Florida voters on November 3, 2026.
If it passes with 60% approval, here's what happens.
The homestead exemption on non-school property taxes rises from $50,000 to $150,000 in 2027, then to $250,000 in 2028. For roughly 60% of Florida homeowners, that wipes out their non-school property tax bill entirely.
A few things worth knowing before you start packing boxes.
School district taxes are NOT included. So property taxes don't go to zero completely, but for most homeowners the reduction would be substantial.
And if you move to Florida after December 31, 2026, you face a waiting period before qualifying for the full exemption.
The opposition argument is real too. Property taxes fund 74% of local government revenue in Florida. Police, fire, parks, roads.
The Florida Policy Institute estimates the $250K exemption alone costs counties $4.8 billion a year. Nobody has a clean answer for how that gap gets filled.
The 60% threshold is also high. For context, Florida's abortion rights amendment got 57% in 2024 and failed.
But property tax relief polls well across party lines and the case for Florida's fiscal model is hard to ignore.
$15.7 billion in reserves. Budget surplus. Zero income tax. AAA credit rating from every major agency, which now exceeds the federal government's own rating.
Whatever your politics, that's a balance sheet worth paying attention to.