Florida's Massive Property Tax Proposal Explained: What South Florida Homeowners Need to Know Before Voting in November

If you've seen headlines claiming Florida is eliminating property taxes, you're not alone.

Social media posts, news headlines, and political ads have created a lot of confusion about a proposed constitutional amendment that Florida voters will decide on this November.

Some people believe it will eliminate property taxes altogether. Others think it will dramatically reduce their tax bill. Some local governments are warning about potential impacts on public services.

So what's actually being proposed? More importantly, how could it affect homeowners, renters, future homebuyers, and communities throughout Broward and Palm Beach Counties? Let's break it down in plain English.

📝 Editor's Note

This article is intended to explain the proposed property tax amendment in plain English and provide general educational information. It should not be considered legal, tax, financial, or voting advice. Property tax laws can be complex, and details of the proposal may change before the final ballot language is certified.

Readers are encouraged to review the official amendment information, consult qualified legal or tax professionals regarding their specific situation, and make their own informed voting decisions.

The Friendly Scoop does not endorse or oppose the proposed amendment. Our goal is simply to help South Florida residents better understand how Florida's property tax system works, what is being proposed, who may benefit, who may be impacted, and what questions voters should consider before heading to the polls in November.

Official proposal website: https://www.saveourhomesfl.com/

The Biggest Misunderstanding

The first thing to understand is that Florida is not currently voting to eliminate property taxes entirely.

The proposal that lawmakers have approved for the November 2026 ballot would significantly increase Florida's Homestead Exemption and expand property tax relief for many homeowners.

Supporters view it as one of the largest tax cuts in Florida history. Critics argue it could reduce local government revenue by billions of dollars annually. Ultimately, Florida voters will decide.

How Florida Property Taxes Actually Work

Many homeowners don't fully understand how their property taxes are calculated. In reality, there are three different numbers that matter.

1. Market Value

This is what your home could likely sell for today. For example, a home in Coral Springs may have a market value of $700,000. This number is determined by the county property appraiser using sales data and market conditions.

2. Assessed Value

This is where things start getting interesting. If the property is your primary residence and qualifies for Homestead Exemption, Florida's Save Our Homes law limits how quickly your assessed value can increase.

Even if your home's market value increases by 15% in one year, your assessed value may only rise by 3% or less. This protection was approved by Florida voters in 1992.

The purpose was simple: to prevent homeowners from being taxed out of their homes simply because property values increased dramatically around them. This is one reason two neighbors with identical homes can pay dramatically different property taxes.

3. Taxable Value

After exemptions are applied, the remaining value becomes your taxable value. This is the number used to calculate your property taxes.

Example — Market Value: $700,000 · Assessed Value: $500,000 · Homestead Exemption: $50,000 · Taxable Value: $450,000. Your tax bill is based on the taxable value — not the market value.

Florida Already Has Three Major Tax Protections

Many homeowners don't realize Florida already provides several valuable tax benefits.

Homestead Exemption: If you live in your home as your primary residence, Florida currently provides up to a $50,000 Homestead Exemption. This reduces the taxable value of your property.

Save Our Homes: Save Our Homes limits how quickly your assessed value can increase each year. For many long-term homeowners, this protection has saved thousands of dollars annually. Without Save Our Homes, many South Florida homeowners would likely be paying substantially higher property taxes today.

Portability: Portability allows homeowners to transfer some of their accumulated Save Our Homes benefit when moving from one Florida homestead property to another. Many homeowners are unaware this benefit even exists.

Where Does Your Property Tax Money Actually Go?

One of the biggest misconceptions is that property taxes go directly to the State of Florida. They don't. Most property tax dollars stay local.

Property taxes help fund:

• Public schools
• County government
• City government
• Fire rescue services
• Police departments
• Libraries
• Parks and recreation
• Road maintenance
• Water management districts
• Infrastructure projects
• Special taxing districts

If you've ever looked closely at your property tax bill, you've likely seen several different taxing authorities listed. For homeowners in Broward and Palm Beach Counties, those tax dollars help fund many of the local services residents use every day.

What Property Taxes Look Like in Broward and Palm Beach Counties

Property taxes vary based on where you live, whether you're inside city limits, and which special taxing districts apply to your property. A homeowner in Boca Raton may have a different tax bill than someone with an identical home in Wellington, Coral Springs, or Parkland because different local governments set different tax rates.

Generally speaking, property taxes in South Florida are made up of several layers:

• Palm Beach County or Broward County taxes
• Municipal taxes (if you live inside a city)
• School Board taxes
• Water management district taxes
• Special assessments and taxing districts

This is why two homes with similar values can have noticeably different tax bills. The proposed amendment primarily affects the non-school portion of these taxes. School taxes would continue to be collected even if the amendment passes.

So What Is the New Proposal?

The proposed constitutional amendment would dramatically increase Florida's Homestead Exemption.

Current exemption: $50,000.

Proposed exemption: $150,000 beginning in 2027, then $250,000 beginning in 2028.

The increase would apply to the non-school portion of property taxes. School taxes would continue. The proposal would also reduce the assessment cap on many non-homestead properties from 10% to 5%.

Supporters view the proposal as the first step toward broader property tax reform in the future.

What Would This Mean for Homeowners?

Let's look at a simplified example. Assume a homeowner has a taxable value of $400,000.

Current System — Taxable Value: $400,000 · Homestead Exemption: $50,000 · Taxes paid on approximately $350,000.

Proposed System — Taxable Value: $400,000 · Homestead Exemption: $250,000 · Taxes paid on approximately $150,000.

The exact savings would depend on local tax rates, but many homeowners could see annual savings ranging from hundreds to potentially thousands of dollars.

Why Supporters Like the Proposal

Housing Costs Have Skyrocketed: South Florida homeowners have experienced rising costs across the board — homeowners insurance, HOA fees, repairs and maintenance, utility costs, construction expenses, and property taxes. Supporters argue property tax relief is overdue.

Homeowners Keep More of Their Money: Many supporters believe homeowners should not face continually increasing tax bills simply because surrounding property values rise. They argue homeowners should benefit from appreciation without being penalized through higher taxes.

Retirees Could Benefit Significantly: Many retirees live on fixed incomes. Lower property taxes could help some seniors remain in their homes longer and improve affordability.

Existing Residents Receive Additional Protection: Supporters argue that Floridians who have lived and paid taxes in the state for years should receive priority benefits.

Why Critics Are Concerned

The criticism isn't usually about whether homeowners deserve tax relief. Instead, critics focus on how local governments would replace lost revenue.

Property Taxes Fund Essential Services: Police departments, fire rescue services, parks, road maintenance, libraries, stormwater systems, and infrastructure projects all require funding. If property tax collections decline significantly, local governments may need to make adjustments.

Revenue Losses Could Be Substantial: State estimates suggest local governments could eventually lose billions of dollars annually in property tax revenue if the amendment passes. Supporters argue governments should reduce spending. Critics worry local services could eventually be impacted.

Someone May Need To Make Up the Difference: A common concern is whether lost revenue could eventually be replaced through higher sales taxes, new fees, special assessments, or other local revenue sources. No one knows exactly how local governments would respond if the amendment passes.

One of the Most Controversial Parts

A portion of the proposal has generated significant debate. Under current discussions, Florida residents who establish homestead status by the end of 2026 could qualify immediately for expanded benefits. Future residents moving to Florida afterward may have to wait several years before receiving the enhanced exemption.

Supporters argue this protects existing Florida residents. Critics argue it could create unequal treatment between homeowners.

Imagine two neighbors buying identical homes. One moves to Florida in December 2026. The other moves in January 2027. The homeowner who arrived just weeks earlier could receive significantly larger tax benefits.

This will likely remain one of the most debated aspects of the proposal leading up to Election Day.

How Could This Affect Broward and Palm Beach Counties?

South Florida may experience some of the largest impacts because of the region's property values. Communities such as Boca Raton, Delray Beach, Wellington, Parkland, Coral Springs, Coconut Creek, Jupiter, and Palm Beach Gardens contain many homeowners who could see meaningful tax savings if the amendment passes.

At the same time, local governments throughout Broward and Palm Beach Counties could experience reductions in future property tax revenue. Whether that leads to spending reductions, delayed projects, increased fees, or other changes remains uncertain.

For a deeper look at where the local market is heading regardless of the vote, see the South Florida Housing Market Forecast 2026 and the 2026 Boca Raton Real Estate Market guide from Homes by Cusi.

Who Benefits Most?

• ✓ Longtime Florida homeowners
• ✓ Retirees
• ✓ Families planning to remain in Florida long term
• ✓ Homesteaded homeowners
• ✓ Owners of higher-value homes with significant taxable value

Who Benefits Least?

• Renters
• Vacation-home owners
• Investors
• Second-home owners
• Future Florida residents who move after eligibility deadlines
• Local governments dependent on property tax revenue

What Happens Next?

The proposed amendment is expected to appear on Florida's November 2026 ballot. Because it is a constitutional amendment, it must receive at least 60% voter approval statewide to pass.

If approved, the expanded homestead exemptions would begin taking effect in 2027 and expand further in 2028.

The Bottom Line

Most Floridians agree on one thing: lower housing costs would be welcome. The disagreement comes in how to achieve that goal.

Supporters believe homeowners deserve significant property tax relief after years of rising costs and increasing property values. Critics worry about the long-term effects on local government budgets and public services.

This November, Florida voters will decide whether the potential savings for homeowners outweigh concerns about future local government funding. Regardless of where you stand, understanding how Florida's property tax system works is the first step toward making an informed decision.

For more local market context as you weigh your vote, the Homes by Cusi blog covers South Florida real estate trends, neighborhood deep dives, and buyer/seller guidance.

🏡 Thinking About Buying, Selling, or Moving in Florida?

Property taxes can play a major role in your overall housing costs, especially when Homestead Exemption, Save Our Homes, and Portability come into play. Whether you're a longtime Florida homeowner, planning a move within the state, or considering buying your first home, understanding how these tax benefits work could potentially save you thousands of dollars over time.

Our friends at Homes by Cusi recently published a homeowner-focused guide that takes a deeper look at how Florida's proposed property tax amendment could affect buyers, sellers, retirees, and current homeowners throughout South Florida.

For practical real-world examples and a Realtor's perspective on what these changes could mean for your next move, check out: Florida's Proposed Property Tax Amendment: What South Florida Homeowners Need to Know

Sources & Additional Reading

Official Proposal Website — https://www.saveourhomesfl.com/

Florida Department of Revenue – Save Our Homes — https://floridarevenue.com/property/Documents/pt112.pdf

Broward County Property Appraiser — https://web.bcpa.net

Palm Beach County Property Appraiser — https://www.pbcpao.gov

Florida Senate — https://www.flsenate.gov

Florida Governor's Office — https://www.flgov.com

This article was written for educational purposes and reflects publicly available information as of June 2026. Readers should verify any updates or changes to the proposal before voting.