Florida’s Ballot Measure Could Eliminate Most Property Taxes by 2028—Here’s How the $150K

Florida homeowners may soon face one of the biggest tax changes in the state’s history. A proposed constitutional amendment backed by Governor Ron DeSantis would dramatically increase the state’s homestead exemption and put Florida on a path toward eliminating most property taxes on primary residences.

For homeowners struggling with rising housing costs, the proposal sounds like a dream come true. A larger exemption could slash annual tax bills and, for some homeowners, eliminate much of their non-school property tax burden altogether. Supporters call it long-overdue relief, while critics worry about how cities and counties would replace the lost revenue. Either way, the proposal has sparked conversations across Florida, and many residents want to know exactly how it would work if voters approve it.

A Major Change Is Headed to Florida Voters

Florida lawmakers approved a constitutional amendment proposal that will appear on the November ballot for voters to decide. The measure would significantly expand the current homestead exemption and create a framework for future property tax reductions on primary residences. Supporters view the proposal as the first step toward broader property tax elimination for homesteaded properties. The amendment requires approval from at least 60% of voters before it can take effect. If voters reject it, Florida’s current homestead exemption rules would remain in place.

The proposal arrived after months of discussion about rising property taxes and housing affordability. State leaders argue that homeowners have seen property values and tax bills increase while local governments have collected substantially more revenue. The measure attempts to provide immediate tax relief while giving lawmakers flexibility to create a longer-term plan. Many homeowners view the ballot measure as one of the most important financial questions they will face this year. The outcome could influence housing costs for years to come.

How the New Homestead Exemption Would Work

Florida currently provides a homestead exemption that reduces the taxable value of an owner-occupied primary residence. Under the proposed amendment, that exemption would increase dramatically over a two-year period. The exemption would rise to $150,000 in 2027 and then increase again to $250,000 in 2028. Homeowners would only pay non-school property taxes on the portion of their home’s assessed value above the exemption amount. That change could produce significant savings for many Florida residents.

A simple example helps illustrate the concept. Imagine a Florida homeowner with a primary residence assessed at $250,000. Under the proposal, the entire value of that home could become exempt from non-school property taxes by 2028. A homeowner with a property assessed at $350,000 would pay taxes only on the value above the exemption threshold. Instead of taxing the entire property value, local governments would tax only the remaining taxable portion.

Why Some Homeowners Could See Their Property Taxes Disappear

The most attention-grabbing part of the proposal involves homes valued at or below the exemption threshold. Under the plan approved by lawmakers, many homeowners with qualifying primary residences worth $250,000 or less could pay zero non-school property taxes by 2028. That possibility has fueled excitement among homeowners searching for relief from rising costs. For retirees on fixed incomes, the savings could prove especially meaningful. Families facing higher insurance premiums and other housing expenses also stand to benefit.

The proposal does not immediately eliminate every property tax bill in Florida. School district property taxes would continue under the version lawmakers approved. Homeowners would still need to review their local tax bills carefully because school levies would remain in place. That distinction often gets lost in online discussions, but it represents a key detail. The measure focuses primarily on non-school property taxes tied to local government services.

The Debate Behind the Tax Relief

Supporters argue that homeowners deserve relief after years of increasing property values and tax collections. They believe people should not face growing tax burdens simply because the value of their homes has increased. Many advocates also see homeownership as something that government policy should encourage and protect. The proposal’s backers believe a larger exemption will help families stay in their homes and improve affordability. They describe the amendment as a taxpayer-focused reform.

Critics, however, raise concerns about the financial impact on local governments. Property tax revenue funds services such as public safety, infrastructure maintenance, parks, and community programs. Opponents worry that reducing those revenues could force difficult budget decisions or require alternative funding sources. Several local officials have warned about potential service reductions if replacement funding fails to materialize. The debate has become less about whether homeowners want lower taxes and more about how communities would pay for essential services moving forward.

What Happens Next If Voters Say Yes

If voters approve the amendment, the expanded homestead exemption would begin rolling out in 2027. The exemption would first increase to $150,000 before reaching $250,000 the following year. State lawmakers would then continue developing a framework aimed at broader property tax relief for homestead properties. Some supporters hope the process eventually leads to eliminating most homestead property taxes altogether. Future legislative action would still play a major role in determining what happens after the initial exemption increases.

Florida residents should also pay attention to eligibility requirements tied to residency. Some versions of the proposal include provisions affecting new residents who establish Florida residency after certain deadlines. Because details may evolve through legislative action and legal challenges, homeowners should monitor official information closely. Financial decisions involving real estate often carry long-term consequences. Staying informed will help homeowners make sense of any changes that ultimately become law.

A Tax Proposal That Could Reshape Homeownership

Florida’s proposed homestead exemption expansion has transformed a routine tax discussion into one of the state’s biggest financial stories. For many homeowners, the prospect of reducing or eliminating large portions of their property tax bill sounds incredibly appealing. At the same time, questions remain about how local governments would adapt if significant tax revenue disappears. The November vote will determine whether this ambitious plan moves forward or remains a political what-if. Whatever the outcome, Florida voters will have a rare opportunity to shape the future of homeownership costs across the state.

Do you think Florida should move toward eliminating most property taxes on primary homes, or could the loss of local revenue create bigger problems down the road? Share your thoughts in the comments.