Florida’s Proposed 2026 Property Tax Amendment: What Southwest Florida Homebuyers Need to Know
If you’re considering buying a home in Florida and making it your primary residence, a proposed constitutional amendment on the November 2026 ballot is something you’ll want to know about.
The proposal, titled “Save Our Homes from Excessive Property Taxes,” could significantly increase Florida’s homestead property tax exemption and potentially reduce non-school property taxes for eligible homeowners. And for buyers considering a move to Florida, when you establish Florida residency and homestead could matter.
Here’s a simple breakdown of what’s being proposed and what it could mean for homeowners and buyers in Southwest Florida.
What Is the “Save Our Homes from Excessive Property Taxes” Amendment?
Florida lawmakers approved a proposed constitutional amendment in June 2026 that will go before Florida voters. Because it is a constitutional amendment, it must receive at least 60% voter approval to pass.
If approved, the amendment would take effect January 1, 2027 and make several significant changes to Florida property taxation.
One of the biggest changes involves the Florida Homestead Exemption.
How Would Florida’s Homestead Exemption Change?
The proposed amendment would increase the homestead exemption for non-school property taxes. for the increased exemption schedule, qualifying homeowners must have maintained permanent Florida residency as of December 31, 2027. They must also qualify for Florida’s homestead exemption. The proposed increases are as follows:
- 2027 (if approved): Homestead exemption would increase to $150,000
- 2028: Homestead exemption would increase to $250,000
- Beginning in 2029: The exemption amount would be adjusted annually for positive inflation growth.
This is a substantial increase from today’s exemption structure and could translate into meaningful property tax savings for qualifying Florida homeowners.
It’s important to understand, however, that the increased exemption applies to non-school property tax levies. School district property taxes would not receive this increased exemption.
Why Could 2026 Be Important for Florida Homebuyers?
This is perhaps the most interesting part of the proposal for people currently considering a move to Florida.
Under the amendment, people who maintain permanent Florida residency as of December 31, 2026 and establish homestead would be eligible for the increased exemption schedule.
For people who establish Florida residency beginning in 2027, different rules would apply. They would initially receive an exemption of up to $50,000, adjusted for inflation. Beginning with the fifth year of the exemption, they could become eligible for the larger exemption amount.
That means buyers who are already contemplating making Florida their primary residence may want to pay particular attention to the end of 2026.
Of course, the amendment still must be approved by Florida voters in November. Buyers should make purchasing decisions based on their individual circumstances rather than solely on a proposed tax change.
What Is the Florida Homestead Exemption?
Florida’s Homestead Exemption reduces the taxable value of a qualifying primary residence.
In simple terms, property taxes are calculated using a property’s taxable value. An exemption removes a portion of the property’s assessed value from taxation. This can lower the homeowner’s annual property tax bill.
Florida homestead status also plays an important role in the state’s Save Our Homes assessment limitation. This generally limits annual increases in the assessed value of qualifying homesteaded property.
For homeowners planning to make Southwest Florida their permanent home, understanding homestead is an important part of understanding the true ongoing cost of homeownership.
What About Investment Properties and Second Homes?
The proposed amendment contains another change that may be particularly relevant in Southwest Florida, where second homes and investment properties make up a significant portion of the real estate market.
Currently, annual assessment increases for certain non-homestead residential and non-residential real property are generally limited to 10%.
The proposed amendment would reduce that assessment limitation to 5% annually, beginning in 2027.
That provision could be important for owners of second homes, investment properties and other non-homesteaded real estate.
Could the Amendment Eliminate Property Taxes Completely?
You’ve probably seen headlines suggesting Florida may “eliminate property taxes.”
The answer is more nuanced.
The amendment would substantially increase the exemption from non-school property taxes. Depending on a home’s taxable value, it could potentially eliminate certain non-school property taxes for some homeowners.
However, it would not eliminate school district property taxes. The actual savings for an individual homeowner would depend on factors including the home’s assessed value, exemptions, taxing authorities and local millage rates.
Interestingly, the ballot language also directs the Legislature to establish a future schedule toward eliminating the applicable taxes. This means the proposal could eventually have implications beyond the initial $250,000 exemption.
What Could This Mean for Southwest Florida Buyers?
The Florida property tax amendment 2026 could be especially relevant for buyers who are already planning to make Southwest Florida their primary residence.
For buyers considering homes in Fort Myers, Estero, Bonita Springs, Naples and surrounding Southwest Florida communities, property taxes are an important part of calculating the true cost of homeownership—especially for buyers relocating from another state.
If this amendment is approved, maintaining permanent Florida residency as of December 31, 2026 could potentially provide significant future tax advantages for homeowners who qualify for Florida’s homestead exemption.
That doesn’t mean someone should rush into buying a home simply because of a proposed tax amendment.
But if you’ve already been considering a move to Southwest Florida, this is certainly something worth understanding as you determine your timeline.
Considering a Move to Southwest Florida?
There are many factors to consider when purchasing a Florida home beyond the purchase price—from property taxes and homestead exemptions to HOA fees, insurance, community amenities and location.
If you’re also planning to sell a Southwest Florida home before making your next move, read my 2026 Southwest Florida seller market update. This will provide you with additional insights into today’s market.
As we get closer to the November election, I’ll continue following the Florida property tax amendment 2026. I’ll also share what it could mean for Southwest Florida homeowners and buyers.
If you’re considering making Southwest Florida your primary residence, I’m always happy to help you navigate the real estate side of the equation. Whether you’re just beginning your search or ready to make a move, I’d love to help you find the community and home that fit the lifestyle you’re looking for.
Dawn Bray
Premiere Plus Realty Luxury International
📲 239-297-4020
Information is believed to be accurate as of September 2026 and is provided for general informational purposes only. The proposed constitutional amendment has not yet been approved by Florida voters. Property tax and homestead eligibility vary by individual circumstances. Buyers and homeowners should consult their county property appraiser, tax professional and/or legal advisor regarding their specific situation.