What Happened Today
On June 2, 2026, the Florida Legislature concluded a special session and voted to place the "Save Our Homes from Excessive Property Taxes" constitutional amendment on the November 3, 2026 ballot. The House passed it 75–26 and the Senate 30–9 — both clearing the required three-fifths supermajority.
This is not yet law. Florida voters must approve it by 60% in November for it to take effect. But the legislative hurdle — historically the harder one — is cleared.
What the Amendment Actually Does
| Provision | Current Law | If Amendment Passes |
|---|---|---|
| Homestead exemption | $50,000 | $150,000 in 2027 → $250,000 in 2028 |
| School district taxes | Subject to exemption | Excluded — school taxes unchanged |
| Non-homestead assessment cap | 10% per year | 5% per year starting 2027 |
| Path to full elimination | None | Legislature directed to set a schedule |
| New resident wait period | None | Up to 5 years for those establishing residency after Jan. 1, 2027 |
The Residency Deadline You Need to Know About
This is the detail that most headlines are glossing over — and it's the most time-sensitive piece for anyone considering a move to Florida.
In practical terms: if you've been weighing a move to Palm Beach County and this passes in November, someone who closes on a home and establishes residency in, say, September 2026 locks in the full exemption starting January 2027. Someone who makes the same move in March 2027 begins a multi-year phase-in.
The Window Is Open Now
For relocators, the combination of the November vote timeline and the January 1, 2027 residency deadline means the favorable window to act — if this passes — is the second half of 2026.
What This Means for Current Homeowners
If you already own a primary home in Florida and have your homestead exemption established, you are not subject to any waiting period. If the amendment passes in November, your exemption automatically increases to $150,000 beginning January 1, 2027, and to $250,000 in 2028.
Your school district taxes are unaffected. For most other local levies — county, city, water management — the higher exemption applies.
What This Means for Investors and Second-Home Owners
The non-homestead assessment cap reduction from 10% to 5% is meaningful for owners of investment properties, vacation homes, seasonal residences, and commercial real estate. Annual assessed value increases on those properties would be limited to 5% regardless of market appreciation — providing more cost predictability for landlords and investors.
Note: the enhanced homestead exemption does not apply to non-primary residences. Snowbirds and seasonal residents who have not established Florida as their primary domicile would not benefit from the exemption increase, only from the reduced assessment cap.
What This Means for Renters
The amendment provides no direct tax relief to renters. Critics of the plan — including the Florida League of Cities and Florida Association of Counties — have argued that as homestead properties come off the tax rolls, remaining taxpayers (including landlords, businesses, and non-homestead property owners) will carry a larger share of local government costs, which could be passed through to tenants in the form of higher rents.
The Fiscal Picture
Legislative staff analysis projects the amendment would reduce non-school local government revenue by $4.6 billion to $8.4 billion annually. The Florida Association of Counties estimates a $3.6 billion hit to county budgets in FY2027-28 alone, rising to $6.4 billion by FY2028-29. There is currently no dedicated state funding mechanism to offset these losses to local governments.
How individual counties and cities respond — through fee adjustments, service changes, or millage rate increases on remaining taxable properties — will vary. Worth watching for Palm Beach County specifically as the November vote approaches.
What Happens Next
- November 3, 2026: Florida voters decide. The amendment needs 60% approval to pass.
- January 1, 2027: If passed, the $150,000 exemption takes effect. The new resident five-year residency rule also begins.
- January 1, 2028: Exemption increases to $250,000.
- Future legislative sessions: The Legislature is directed to enact a schedule for full elimination of homestead property taxes — timing and structure TBD.
Questions About What This Means for You?
Whether you're already a Palm Beach County homeowner or you're considering making the move, I'm happy to walk through the timing and what it means for your specific situation.
Schedule a Free Consultation