Florida Voters Raised the Homestead Exemption on Non-School Property Taxes to $150,000 Next Year and $250,000 in 2028, With Residency by Dec. 31 the Key

Florida voters approved Amendment 3 by more than 1.9 million votes, 4,917,796 to 3,016,195, according to the unofficial election-night results posted on the state’s Florida Election Watch site. The 61.98 percent yes vote cleared the 60 percent threshold constitutional amendments need, and it raises the homestead exemption on non-school property taxes to $150,000 next year and $250,000 in 2028. Whether a homeowner gets the larger exemption right away depends on one date: residency must be established by Dec. 31.

From $50,000 to $250,000: What the Amendment Changes

NBC Miami reported that the measure raises the homestead property tax exemption from $50,000 to $150,000 in 2027, then to $250,000 in 2028. The Legislature passed the measure in a June special session, and it went directly to the ballot without the governor’s signature. DeSantis toured the state for more than a year to promote it. Lawmakers carved school districts out of the larger exemption, which differed from Gov. Ron DeSantis’s original proposal of an immediate increase to $250,000.

The Florida Chamber of Commerce’s guide to the amendment says a $25,000 exemption continues to apply to school taxes, and that the $250,000 figure is adjusted for inflation after 2028. The amendment also lowers the annual cap on assessment increases for non-homestead property, such as businesses and rentals, from 10 percent to 5 percent for non-school levies.

The ballot language exempts the first $250,000 of a homestead’s value from taxation for all levies other than school district levies, according to the Florida Policy Institute’s summary of the ballot language. The institute noted that the ballot text itself does not state the 2027 and 2028 dates.

It was not the only question on the statewide ballot. NBC Miami reported that Amendment 2, an agricultural property tax exemption, failed with 58.25 percent, and Amendment 1, a budget stabilization fund cap, failed with 40 percent. Amendment 3 was the only one of the three to pass.

The Dec. 31 Residency Line

The residency rule decides who gets the full benefit first. WJHG reported that owners must establish permanent Florida residency before Dec. 31 of this year to qualify for the expanded exemption right away, and the home must be the owner’s permanent, primary residence.

The Volusia County Property Appraiser’s Amendment 3 page spells out the details. Permanent Florida residents as of Dec. 31, 2026, are eligible for the larger amounts starting in 2027, including people who establish residency by that date but buy a home later. People who become residents on or after Jan. 1, 2027, begin with a $50,000 exemption, and the larger exemption applies after four years of homestead exemption, first on Jan. 1 of the fifth year.

The Florida Chamber guide adds that counties and municipalities can shorten the five-year wait by a two-thirds vote. News4JAX reported the same basic rule: people who were not Florida residents on Dec. 31, 2026, get the current exemption when they first qualify, and the increased exemption begins in their fifth year in the state.

What a Sample Home Could Save

There is no single savings figure, and officials say so. Bob Henriquez, the Hillsborough County property appraiser, told FOX 13 Tampa Bay that savings depend on assessed value, length of ownership and whether the owner already has a homestead exemption. In his words, “It’s not a set number.” He called it “a significant savings in terms of overall property tax,” in FOX 13’s coverage of the vote.

The Volusia County Property Appraiser’s page offers a worked example. It multiplies the additional exemption by the 2025 countywide aggregate average non-school millage rate of 11.8092 mills. For 2027, an additional exemption of $98,589 works out to about $1,164 a year. For 2028, an additional exemption of $198,589 works out to about $2,345 a year.

The page assumes the full exemption is received and that millage rates stay the same. It also says the changes would first appear on August 2027 TRIM notices and November 2027 tax bills. To estimate the figure for a particular home, the page’s formula is the added exemption times the local millage rate.

Anyone planning around those numbers should treat them as estimates. Actual savings vary by property, by local millage and by the implementing legislation.

The Revenue Cities and Counties Stand to Lose

The tax break is paid for by local budgets. The Florida Chamber guide cites the Revenue Estimating Conference’s July 10 impact figures for the measure: a reduction of about $4.930 billion in fiscal year 2027-28, $8.714 billion in 2028-29 and an estimated recurring impact of $11.835 billion.

News4JAX also reported that Jacksonville officials estimate the measure could cost the city more than $300 million a year. Mayor Donna Deegan, who opposed it, said after the vote that the decision would be respected and that adjustments would be made with the community and City Council.

Hillsborough County Commissioner Harry Cohen said lost revenue could affect roads, infrastructure, parks, libraries and senior centers. DeSantis said he wants to stop local governments from offsetting the losses with other taxes and fees, according to FOX 13. After the vote, NBC Miami reported, he called the result a “Big win” for homeowners.

For a homeowner, the outcome will show up in two places in 2027: the August notices that list proposed taxes, and the November bill. Local governments will set budgets and millage rates in between, which is where the savings can grow or shrink.

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This article was produced with AI assistance and edited for accuracy against the sources linked above.

Image: Tichnor Brothers, Inc. – Public domain/Wikimedia Commons