Overview
- The Florida Legislature approved a constitutional amendment in a special session and placed it on the Nov. 3, 2026 ballot where it must get at least 60% approval to take effect.
- If voters approve it the exemption for primary homes would be phased to $150,000 in 2027 and $250,000 in 2028 and would apply only to the non‑school share of property taxes.
- St. Johns County’s budget office projects a $113 million drop in county tax revenue by 2029 and county leaders say that shortfall would force cuts, higher fees, or shifts in funding for parks, roads and services.
- County tax collectors, property appraisers and bond analysts warn the revenue loss could complicate repayment of outstanding municipal bonds and slow or raise the cost of local capital projects.
- The amendment’s text leaves unclear who could authorize increases beyond $250,000 and independent reviews, including a UBS analysis, say far fewer homeowners would benefit than some sponsors have claimed.