Florida Property Tax Proposal Explained

On June 2, 2026, Florida lawmakers approved a property tax proposal that could change how homesteaded properties are taxed in Florida. The proposal is now headed to voters as a constitutional amendment, so it is not final yet — but it is important for Florida homeowners and buyers to understand what is being proposed.

What Would Change If Voters Approve It

The biggest proposed change is the size of the homestead exemption.

Today, Florida’s homestead exemption generally protects up to $50,000 of a qualifying property’s assessed value. The first $25,000 applies to all property taxes, including school district taxes. The additional exemption applies to non-school taxes only.

If voters approve the proposal, the homestead exemption would increase to $150,000 in 2027 and then $250,000 in 2028 for non-school property taxes.

That means more of a qualifying homesteaded property’s assessed value could be protected from county, city, and other non-school property taxes. School district taxes would still be handled separately, which is an important detail when reviewing the full tax bill.

What This Could Mean for Homeowners

For homeowners with a qualifying homestead exemption, the potential benefit is straightforward: if the proposal passes, a larger portion of the home’s assessed value could be protected from certain property taxes.

That matters because property taxes are calculated using taxable value. When more assessed value is exempt, the taxable value used for certain parts of the bill may be lower.

For buyers, this could make Florida even more appealing when comparing long-term ownership costs. Property taxes are only one part of the full monthly picture, but a larger homestead exemption could add another financial benefit for those who qualify after purchasing a home.

Florida already attracts buyers for its lifestyle, weather, beaches, business climate, and no state income tax. If this proposal passes, a larger homestead exemption could make owning a home in Florida even more appealing for buyers who qualify.

The Bottom Line

The most important thing to remember is that this proposal still needs at least 60% voter approval before it becomes part of the Florida Constitution.

If voters approve it, qualifying homesteaded properties could receive a much larger exemption from certain property taxes. School district taxes would still be treated separately, and the final impact would depend on the specific property.

For Palm Beach County homeowners and buyers, this is worth following. If it passes, it could add another reason owning a homesteaded property in Florida feels even more valuable.

Considering a move to Palm Beach County? Contact Lisa Treu and Treu Group Real Estate at (561) 352-3056 or visit www.treugroup.com.