Is 2026 the Beginning of the End for Homeowner Property Taxes? These State Lawmakers Think So

Florida voters will decide in November on a proposed constitutional amendment that could significantly reduce property taxes for primary residence owners starting in 2027. This amendment, if passed, would increase the homestead exemption for non-school property taxes from $50,000 to $150,000 in 2027, and further to $250,000 in 2028. Homeowners who were Florida residents by the end of 2026 would be eligible for the full exemption immediately, while new residents would receive the existing $50,000 exemption for four years before qualifying for the larger benefit. This move reflects a broader trend of state lawmakers exploring substantial property tax relief, driven by factors such as election-year pressures, escalating home assessments, and an affordability crisis impacting homeowners, particularly those on fixed incomes. Joel Berner, senior economist at Realtor.com®, noted that states like Texas face voter dissatisfaction with high property taxes, especially when the state maintains a budget surplus. The proposed Florida measure aims to alleviate the burden for homeowners like Walter and Debbie, whose property tax bill surged from $15,000 to $91,000 annually following a remodel and reassessment.