Overview
- The Legislature approved House Joint Resolution 1‑F in early June 2026 to place a constitutional amendment on the November 3 ballot that would raise the homestead exemption to $150,000 in 2027 and $250,000 in 2028 for the non‑school portion of property taxes.
- The amendment also lowers the annual assessment cap on non‑homestead properties from 10% to 5% starting in 2027 and creates a five‑year phase for new residents to reach the full exemption.
- County officials and an independent Florida Association of Counties study project large, near‑term revenue losses for local governments, with Orange County estimating about $430 million over two years and Palm Beach County losses in the low hundreds of millions in the first two fiscal years.
- Local leaders warn the revenue drop could force cuts to public safety, transit and social programs, prompt higher user fees or taxes, and put pressure on municipal bond ratings and the fiscal viability of smaller cities and special districts.
- The measure excludes school levies from the new exemption, requires the Legislature to set prioritization rules for remaining revenues, and leaves unclear whether the state will create any backstop to replace lost local funds before the November vote.