06/02/2026
Important information, Pasco!  . . .
BREAKING: Florida lawmakers approved a significant property tax relief measure that will appear on the November 2026 ballot as a constitutional amendment.
Main Elements of the Plan (Save Our Homes from Excessive Property Taxes)
• Bigger Homestead Exemption: The existing $50,000 homestead exemption (for primary homes) would rise to $150,000 in 2027 and $250,000 in 2028 for taxes other than school levies. These amounts would adjust for inflation going forward.
• Path to Elimination: The proposal sets the stage for eventually removing non-school property taxes entirely on homesteaded primary residences. School taxes would remain unaffected.
Additional Changes:
• New Florida residents could face a waiting period of up to five years before qualifying for the higher exemption.
• The cap on yearly assessment increases for non-homestead properties (such as rental homes and commercial buildings) would drop from 10% to 5%.
• Remaining local taxes would be limited to essential services, and a new state trust fund would help local governments cover lost revenue.
Recent Legislative Action (June 2, 2026): The House approved the measure 75-26, and the Senate passed it 30-9. It now heads to voters for final approval.
What Happens Next
• Voter Decision: The amendment needs at least 60% “yes” votes in November 2026 to pass and take effect for the 2027 tax year.
• Potential Impact: Many homeowners—possibly the majority—could see big reductions or even zero non-school property taxes on their primary homes, especially given how much property values and tax collections have risen recently. However, counties and cities worry about major budget shortfalls for services like public safety, roads, and parks unless the state provides strong offsets.
No big changes apply to 2026 taxes. Current protections, including the Save Our Homes 3% annual assessment cap and the standard homestead exemption, remain in place.