Florida Homestead Exemption Amendment — At a Glance
“Save Our Homes from Excessive Property Taxes” (HJR 1-F) • November 3, 2026 General Election Ballot • Requires 60% voter approval
| CURRENT LAW | PROPOSED AMENDMENT (HJR 1-F) | |
|---|---|---|
| Homestead exemption | First $25,000 of assessed value exempt from all property taxes (including school taxes); an additional $25,000 exempt from non-school taxes only ($50,000 combined). | Non-school exemption rises to $150,000 on Jan. 1, 2027, and to $250,000 on Jan. 1, 2028. The existing $25,000 exemption continues to apply to school taxes. |
| Future increases | No automatic increases; exemption amounts are fixed in the Constitution unless amended again. | Exemption amounts indexed to inflation beginning in 2029. Directs the Legislature, by general law, to adopt a schedule for the full elimination of non-school property taxes on homesteads over time. |
| School taxes | School district levies apply above the first $25,000 of value. | Unchanged — expanded exemption does not apply to school district levies, preserving school funding. |
| Eligibility | Available to owners of a primary residence in Florida. | New residents establishing Florida residency after Dec. 31, 2026, receive the existing exemption initially and do not receive the full increased exemption until their fifth year. |
| Other provisions | No constitutional restriction on how local governments spend property tax revenue; 10% annual assessment cap on non-homestead property. | Restricts remaining local property tax revenue to core services (public safety, schools, infrastructure, natural resources, constitutional offices); lowers the assessment-increase cap on non-homestead/business property to 5%. |
| Fiscal impact (statewide) | Local governments collect property taxes under existing exemptions; no projected change. | A legislative analysis estimates local governments would lose about $4.95 billion statewide in the first year of the exemption and $8.78 billion in the second; the state’s Revenue Estimating Conference puts the recurring cost at roughly $12 billion, including the lower non-homestead assessment cap. Palm Beach County Property Appraiser Dorothy Jacks estimates the county could lose more than $324 million in tax collections at the $250,000 exemption level. |
| Town of Palm Beach impact | Property taxes fund roughly two-thirds of the Town’s $127.3 million budget; the Town collected about $79.7 million in property taxes in FY 2025. These revenues support police, fire-rescue, and capital projects, including drainage and coastal protection. | Per Deputy Town Manager Bob Miracle, homestead property tax revenue would fall about $1.3 million in FY 2027–28 (the first budget year affected, beginning Oct. 1, 2027) and $2.4 million in FY 2028–29. The new 5% cap on non-homestead assessments would cut roughly $1.6 million more, for a total impact of nearly $3 million in FY 2028 and almost $4 million in FY 2029. Impact is milder than in most municipalities because of the Town’s high property values (average recent sale price above $2.5 million). |
Background
Placed on the ballot by the Florida Legislature during a June 2026 special session (House 75–26; Senate 30–9), with support from Gov. Ron DeSantis. Lawmakers amended the Governor’s original proposal to exclude school district levies and protect funding for constitutional offices. Supporters frame the measure as long-term relief for homeowners and a step toward eliminating homestead property taxes; local governments warn the revenue loss could strain budgets for police, fire, and other services. If approved by at least 60% of voters, most provisions take effect January 1, 2027.