Florida property tax changes in 2026 are moving fast. After several early-session proposals stalled in March, Governor Ron DeSantis called lawmakers back for a June special session to consider a constitutional amendment known as SJR 2F, “Save Our Homes from Excessive Property Taxes.” The proposal is designed to sharply reduce property taxes through major homestead exemption increases, tighter non-homestead assessment caps, and a longer path toward eliminating many non-school property taxes.
Is Florida eliminating property taxes in 2026? No. Florida is not eliminating property taxes in 2026. The state is aggressively pushing a constitutional amendment for the November 3, 2026 ballot that would dramatically slash them, mainly through a larger Florida homestead exemption: $150,000 beginning January 1, 2027, and $250,000 beginning January 1, 2028, with future legislation aimed at broader elimination of non-school property taxes.
For homeowners, buyers, and investors, this is more than a Tallahassee tax debate. It could change monthly affordability, escrow estimates, investor underwriting, and buyer demand across Tampa Bay and the broader Florida real estate market.
Quick Takeaways for Florida Homeowners and Buyers
- The current active proposal is SJR 2F Florida, filed May 28, 2026. It was referred to Senate Appropriations during the special-session push.
- The headline benefit is a much larger homestead exemption. The proposal moves toward a $150,000 exemption in 2027 and a $250,000 exemption in 2028.
- School district taxes remain the key exception to watch. Earlier House plans explicitly excluded school district levies from elimination, and SJR 2F preserves education and public schools as core uses for remaining local property tax revenue.
- Non-homestead property owners are included too. Rental properties, commercial real estate, second homes, and vacation homes would see annual non-school assessment growth capped at 10% before 2027 and 5% starting January 1, 2027.
- Nothing changes unless voters approve it. Florida constitutional amendments generally require 60% voter approval after the Legislature places them on the ballot.
The 2026 Legislative Landscape: From HJR 203 to SJR 2F
Florida’s property tax conversation began earlier than the May special session. During the regular 2026 session, the House advanced several proposals aimed at reducing or eliminating portions of ad valorem tax, which simply means taxes based on the assessed value of property.
What happened to HJR 203?
The highest-profile early proposal was CS/CS/HJR 203, a House joint resolution that would have phased out non-school property taxes on homesteaded homes. In plain English, that meant the tax relief would have focused on primary residences and would not have wiped away the school district portion of a homeowner’s property tax bill.
HJR 203 had real momentum. It passed the Florida House on February 19, 2026, by an 80-30 vote. But it did not become a ballot measure. The proposal died in Senate Appropriations on March 13, 2026, which effectively ended its path during the regular session.
That matters because some homeowners are still hearing “Florida already passed property tax elimination.” It did not. The regular-session House proposal died. The live issue now is the late-May special-session package led by Governor DeSantis and filed as SJR 2F.
What is SJR 2F?
SJR 2F, filed May 28, 2026, is the current vehicle for Florida’s property tax reduction push. Governor DeSantis announced the special session after arguing that local property tax collections had increased sharply in recent years. The Governor’s office described the proposal as a way to deliver immediate homestead relief while requiring a schedule for broader elimination through general law.
SJR 2F is a proposed constitutional amendment. That is important. It is not a normal bill that can simply be signed into law and take effect. To change Florida’s Constitution, the Legislature must first place the measure on the ballot, and voters must then approve it.
Core Proposal 1: Florida Homestead Exemption Increase
The biggest consumer-facing piece is the Florida homestead exemption increase. A homestead exemption reduces the taxable assessed value of a primary residence. If your home qualifies as your permanent Florida residence, the exemption can lower the portion of your value subject to property tax.
SJR 2F would move the homestead exemption in two major steps:
- Before January 1, 2027: Florida’s current layered homestead framework remains in place.
- Beginning January 1, 2027: the exemption would rise to $150,000 of assessed value.
- Beginning January 1, 2028: the exemption would rise to $250,000 of assessed value.
- Beginning in later years: the proposal directs lawmakers to create a schedule that can move toward full elimination of remaining covered homestead property taxes through general law.
Here is the homeowner translation: if the amendment passes and your home qualifies for the full benefit, a larger slice of your assessed value would be removed before tax rates are applied. That can reduce the annual tax bill and, for mortgage borrowers, may eventually reduce the escrow portion of the monthly payment.
However, homeowners should avoid assuming every dollar of property tax disappears overnight. The final savings will depend on the adopted constitutional language, implementing legislation, millage rates, school district levies, special assessments, and your property’s assessed value.
Core Proposal 2: The School Tax Exception
The most common misunderstanding is that “property tax elimination” means the entire bill goes to zero. That is not how Florida’s 2026 proposals should be read.
School district taxes are the key exception. Earlier House proposals such as HJR 203 were explicitly framed around eliminating non-school property taxes for homesteads. SJR 2F also treats education and public schools as a protected core service for remaining local property tax revenue. In practical terms, buyers and owners should continue to model a school-tax component unless and until final ballot language and implementing legislation clearly say otherwise.
That distinction matters because a Florida property tax bill is not one single bucket. It can include county taxes, municipal taxes, school district taxes, water management district taxes, special district taxes, voter-approved debt, and non-ad valorem assessments such as certain fees or special charges. A proposal can reduce one part of the bill while leaving another part in place.
Core Proposal 3: Non-Homestead Property Protections
The DeSantis property tax proposal is not limited to primary homeowners. SJR 2F also targets non-homestead property, which includes many rental homes, commercial buildings, vacation homes, and second homes.
Under current Florida law, many non-homestead properties already have assessment-growth limits, but SJR 2F would tighten the cap for non-school levies:
- Before January 1, 2027: annual assessment increases for covered non-homestead property remain capped at 10% for non-school taxes.
- Beginning January 1, 2027: that cap would drop to 5% for non-school taxes.
- Residential properties with nine units or fewer are addressed separately from other real property, but both categories move from the 10% framework to the 5% framework.
- Change of ownership still matters. When a property changes hands or control changes, reassessment rules can reset taxable value, so investors should not treat the cap as permanent protection through a sale.
For landlords and commercial owners, this could make Florida real estate underwriting more predictable. A lower assessment cap can reduce the risk that a fast-rising market turns into a fast-rising tax bill. But it does not eliminate taxes on investment property, and it does not prevent insurance, maintenance, HOA, financing, and local fee pressures from moving the overall ownership cost higher.
How This Affects First-Time Homebuyers
First-time buyers may be the most emotionally invested group in the Florida property tax changes 2026 conversation. Housing affordability has been squeezed by high prices, higher insurance costs, and mortgage rates that remain much higher than the 2020-2021 era.
A larger homestead exemption could help new buyers in three ways:
- Lower future carrying costs: if the amendment passes, eligible owner-occupants could see lower property tax obligations after the effective dates.
- More buying power: lower projected taxes can improve debt-to-income calculations, especially for buyers close to a loan approval threshold.
- More confidence in long-term affordability: predictable tax relief can make a purchase feel less risky when insurance and maintenance remain uncertain.
But there is a catch. If buyers believe tax bills will fall meaningfully, some of that future savings can get capitalized into home prices. In other words, sellers may price more aggressively if they know buyers can afford a slightly higher payment because the tax component is lower. That does not erase the benefit, but it can shift part of it from monthly affordability into market pricing.
How This Affects Long-Term Owners With Save Our Homes Benefits
Long-term Florida homeowners already have a powerful protection through the Save Our Homes amendment Florida system. Save Our Homes limits annual increases in assessed value on a homesteaded property to the lesser of 3% or the change in the Consumer Price Index, as long as the owner keeps the homestead.
That means a homeowner who bought a Tampa Bay home 15 years ago may already have an assessed value far below market value. For those owners, the new exemption could still help, but the incremental benefit may be smaller than it looks from the headline numbers because their taxable value is already suppressed.
By contrast, a recent buyer who purchased at today’s higher market values may benefit more directly from a larger exemption. This is one reason the political appeal is broad: first-time buyers, move-up buyers, and recent arrivals tend to feel the current tax bill more sharply than longtime owners with deep Save Our Homes protection.
How This Affects Real Estate Investors
For investors, the non-homestead tax cap Florida provision is the part to study closely. A move from a 10% to a 5% annual cap on non-school assessment increases could improve long-term cash-flow forecasting for:
- Single-family rental portfolios
- Small multifamily properties with nine units or fewer
- Vacation rentals and second homes
- Commercial real estate and mixed-use assets
The investor impact is not just “lower taxes.” It is lower volatility. When tax assessments can climb quickly, a rental that looked profitable at acquisition can become tighter after reassessment, insurance increases, and repairs. A 5% cap on covered non-school assessment growth could make Florida pro forma modeling cleaner.
Still, investors should underwrite conservatively. A purchase can trigger reassessment. Local governments may seek other revenue sources. And if tax savings improve investor demand, acquisition prices may adjust upward in competitive submarkets.
Local Government Pushback and the Revenue Question
The political tension is straightforward: homeowners want relief, but counties and municipalities rely heavily on property taxes for services people notice quickly when they are underfunded.
Local officials are likely to focus on funding for:
- Law enforcement, fire rescue, and emergency medical service
- Roads, bridges, stormwater, and drainage infrastructure
- Flood control and natural resource projects
- Debt service and pension obligations
SJR 2F tries to answer that concern by limiting how remaining county and municipal ad valorem taxes can be used and by creating a state trust fund to help support core local services. The Governor’s office has argued that the state can help offset local revenue pressure while forcing local governments to prioritize essential services.
The unresolved question is scale. If voters approve a large exemption increase, every county, city, and special district will need to recalculate budgets around the new taxable-value base. That could lead to spending cuts, state grants, higher fees, more reliance on sales-tax-style revenue, or some combination of all three.
Florida Real Estate Market Impact 2026
The Florida real estate market impact in 2026 will likely show up before any tax bill changes. Real estate markets price expectations, not just current law.
Here is what Relevé Real Estate is watching:
- Buyer urgency: some buyers may try to close before the November vote if they believe future tax relief will support values.
- Seller pricing confidence: sellers may become firmer on price if they believe the amendment improves buyer affordability.
- Investor competition: rental-property buyers may assign value to the proposed 5% non-school assessment cap.
- New-construction messaging: builders may lean into future tax savings as part of affordability conversations.
- Appraisal and valuation nuance: lower ownership costs can support demand, but appraisers still rely on closed comparable sales, not campaign promises.
The most likely short-term effect is not a sudden statewide price jump. It is more nuanced: buyers and investors may revisit affordability models, sellers may test stronger pricing, and agents will need to explain the difference between proposed tax relief and enacted law.
The Path to the Ballot: What Happens Next?
The timeline matters because this is not automatic. To become law, the proposal must clear several steps:
- Special session begins the week of June 1, 2026. Lawmakers consider SJR 2F and linked property tax administration measures.
- The Legislature must pass the joint resolution. A proposed constitutional amendment generally needs a 60% vote in each chamber to be placed on the ballot.
- The measure would go to Florida voters on November 3, 2026. That is the next general election date targeted by the current push.
- Voters must approve it by 60%. Florida constitutional amendments require a supermajority at the ballot box.
- If approved, the amendment would take effect January 1, 2027. The first major exemption increase would begin then, with the $250,000 level scheduled for January 1, 2028.
What Buyers and Owners Should Do Now
Do not build a purchase decision on the assumption that Florida property taxes will disappear. Build scenarios.
For a primary-home buyer, ask your lender and agent to model:
- current estimated taxes at today’s rules;
- a post-2027 scenario with a larger exemption;
- a conservative scenario where the amendment fails or is revised;
- insurance and HOA increases alongside tax changes.
For investors, update your underwriting with separate columns for school taxes, non-school taxes, insurance, repairs, management, vacancy, and capex. The non-homestead tax cap could matter, but it should not be the only reason a deal works.
Bottom Line
Florida is not eliminating property taxes in 2026, but the state is closer than it has been in years to putting sweeping property tax relief before voters. The active SJR 2F proposal would raise the homestead exemption to $150,000 in 2027 and $250,000 in 2028, preserve a major school-tax and core-services conversation, lower non-homestead non-school assessment caps from 10% to 5%, and set up a longer path toward broader property tax elimination.
For homeowners, this could change long-term affordability. For buyers, it could affect purchasing power. For investors, it could reshape cash-flow projections and acquisition strategy. And for local governments, it could force one of the biggest budget resets in modern Florida history.
Thinking about buying, selling, or investing in Tampa Bay while these rules are still in motion? Talk with a Relevé Real Estate agent before you make a move. We can help you model today’s tax bill, the proposed 2027 and 2028 scenarios, and the way these changes may affect your price range, offer strategy, or rental return in the current market.
Sources reviewed include the Florida Senate bill page for SJR 2F, the filed SJR 2F bill text, the Florida Senate history for HJR 203, and the May 27, 2026 Executive Office of the Governor announcement on the special session and “Save Our Homes from Excessive Property Taxes” proposal.
