Florida voters to decide on homestead exemption amendment

Florida voters will decide in November whether to approve a constitutional amendment that would significantly increase property tax exemptions for homeowners, a measure passed by the state legislature this week. If approved by 60 percent of voters, the amendment would raise the homestead exemption from its current $50,000 to $150,000 starting January 1, 2027, and then to $250,000 on January 1, 2028. The expanded exemption applies to non-school property taxes levied by counties, cities, and special districts.

Governor Ron DeSantis, who proposed the measure, framed it as direct financial relief for homeowners facing rising costs. The Republican-controlled legislature passed the proposal largely along party lines during a special session. Lawmakers modified the governor's original plan to protect funding for public schools, ensuring that property taxes dedicated to education would continue to be collected after the first $25,000 of a home's assessed value.

The amendment's fiscal impact on local governments is projected to be substantial. State analysts estimate the increased exemption would cost cities and counties approximately $4.6 billion in non-school tax revenue in 2027,...