DeSantis Backs $250,000 Florida Homestead Tax Break, Cutting Local Revenue by $8.4 Billion
Updated
Updated · Fox News · Jun 7
DeSantis Backs $250,000 Florida Homestead Tax Break, Cutting Local Revenue by $8.4 Billion
3 articles · Updated · Fox News · Jun 7
Summary
Florida's proposed constitutional amendment would raise the homestead property-tax exemption from $50,000 to $150,000 in 2027 and $250,000 in 2028, lowering bills for millions of homeowners.
State analysts estimate the change would cut local-government revenue by more than $8.4 billion a year, putting pressure on cities and counties that rely on property taxes to fund schools, roads and public safety.
Tax Foundation analysts say the plan would eventually eliminate about 36% of homestead property taxes and could force replacement revenue or shift more of the burden onto businesses, renters and non-homestead property owners.
DeSantis and other backers argue the tax break would help Floridians facing high housing, insurance and inflation costs while sharpening Florida's edge over rivals such as Texas in attracting residents and businesses.
The measure still needs at least 60% voter approval, making Florida a closely watched test of whether aggressive tax cuts can boost growth without eroding local services.
As Florida cuts homeowner taxes, who will pay for the multi-billion-dollar gap in funding for schools and police?
How will Florida's two-tiered tax system for new and old residents impact its future growth and appeal?
Florida’s $8.4 Billion Property Tax Cut: What the 2026 Ballot Amendment Means for Homeowners, Local Governments, and Public Services
Overview
In November 2026, Florida residents will vote on a major constitutional amendment that could reshape property taxes across the state. The proposal introduces new exemptions for first-time homeowners, starting after January 1, 2027, but only for those who can prove five years of residency. Until then, these homeowners will keep the current exemption, which already reduces taxes on the first $25,000 of a primary home's value. This decision carries big consequences for both homeowners and local governments, as officials prepare educational materials to help voters understand how the amendment could impact property taxes and public services.