Florida homeowners may soon have the opportunity to receive one of the largest property tax breaks in state history.
In June 2026, Florida lawmakers approved a proposed constitutional amendment that would significantly increase the state’s homestead exemption for county and city property taxes. The measure will appear on the November 2026 ballot, where it must receive at least 60% voter approval before becoming law. (FOX 35 Orlando)
If approved, the proposal could create meaningful annual tax savings for many homeowners throughout Broward County and across Florida.
Quick Read
- Florida voters will decide a major homestead tax proposal in November 2026.
- The exemption could increase from $50,000 today to $150,000 in 2027 and $250,000 in 2028.
- The expanded exemption would apply to county and city property taxes, not school taxes.
- Many homeowners could see meaningful annual tax savings if the amendment passes.
- The proposal requires 60% voter approval before taking effect.
What Is Florida’s Current Homestead Exemption?
Today, Florida homeowners who qualify for homestead protection receive up to a $50,000 exemption on the assessed value of their primary residence.
This exemption helps reduce the taxable value of a home, lowering the amount of property taxes owed each year.
For example, a home assessed at $500,000 may currently be taxed on approximately $450,000 of value after applying the existing homestead exemption.
What Would Change Under the Proposal?
The proposed constitutional amendment would dramatically increase the exemption for non-school property taxes.
If approved by voters:
- The homestead exemption would increase to $150,000 on January 1, 2027.
- The exemption would increase again to $250,000 on January 1, 2028.
- School district taxes would continue to be calculated separately and are not included in the expanded exemption.
The proposal would apply only to homesteaded primary residences.
What Could This Mean for Homeowners?
The exact savings would depend on a property’s assessed value and local tax rates. However, many homeowners could see noticeable reductions in the county and municipal portion of their annual property tax bill.
Consider a homeowner with a property assessed at $1,000,000. The following example illustrates how the proposed amendment could reduce the taxable value used to calculate county and city property taxes.
| Current Law | Proposed 2027 | Proposed 2028 | |
|---|---|---|---|
| Assessed Value | $1,000,000 | $1,000,000 | $1,000,000 |
| Homestead Exemption | $50,000 | $150,000 | $250,000 |
| Taxable Value | $950,000 | $850,000 | $750,000 |
While actual savings would vary based on local tax rates and a property’s assessed value, the proposal could result in meaningful annual tax savings for many Broward County homeowners if approved by voters.
Why Is This Proposal Receiving So Much Attention?
Supporters argue that homeowners have faced increasing financial pressure from rising insurance premiums, inflation, and higher housing costs. They believe expanding the homestead exemption would provide meaningful long-term relief. (Wall Street Journal)
Critics, however, have raised concerns about how reduced property tax revenue could affect funding for local services and government operations. These issues will likely be debated throughout the election season.
What Happens Next?
Florida voters will have the opportunity to decide the proposal during the November 2026 General Election.
Because the measure would amend the Florida Constitution, it must receive at least 60% voter approval to pass.
If approved, the increased exemptions would begin taking effect in 2027 and 2028.
The Bottom Line for Broward County Homeowners
Whether you’re a longtime homeowner or considering purchasing a primary residence in South Florida, this proposal could have a meaningful impact on future property tax bills.
As the November election approaches, homeowners should stay informed and review how the proposed changes may affect their individual situation.
At Luxury Living Fort Lauderdale, we stay on top of the issues that impact local homeowners, buyers, and sellers. If you have questions about the Broward County real estate market or homeownership in South Florida, we’re always here to help.
