Florida's Property Tax Amendment Heads to the Ballot: What HJR 1-F Could Mean for Owners and Investors
Property taxes are one of the biggest ongoing costs of owning a home or rental in Florida. On June 2, the Legislature passed a proposed constitutional amendment that could change them a lot, starting in 2027. During Special Session F, lawmakers approved CS/HJR 1-F, "Save Our Homes from Excessive Property Taxes". The House voted 75–26 and the Senate 30–9.
Nothing changes yet. A joint resolution goes straight to voters, and the amendment will appear on the November 2026 ballot. It needs approval from at least 60% of voters, and if it passes, it takes effect January 1, 2027. Here's what's in the enrolled text and what it could mean for homeowners, buyers and investors in Manatee and Sarasota.
A Much Larger Homestead Exemption
Today, a Florida homestead gets $25,000 off assessed value for all property taxes, plus an additional $25,000 (on assessed value between $50,000 and $75,000) for non-school taxes. Under the proposal:
School district taxes: the exemption stays at $25,000.
All other property taxes (county, city and other non-school levies): the exemption would rise to $150,000 of assessed value beginning January 1, 2027, and $250,000 beginning January 1, 2028. It would be adjusted for inflation starting in 2029.
The ballot summary says the amendment "requires, through general law, a schedule for full elimination" of homestead taxes for non-school levies. The text also directs the Legislature to create a uniform process for counties and cities to raise the exemption further for their own levies.
A simple illustration: Picture a homestead with an assessed value of $300,000. Today, about $250,000 of that is taxable for non-school levies. Under the amendment, it would be about $150,000 in 2027 and $50,000 in 2028. School taxes would still apply to $275,000. Your actual bill depends on your property's assessed value and local millage rates.
A Waiting Period for New Florida Residents
There's an important catch for people relocating here. Someone who had not maintained a permanent residence in Florida as of December 31, 2026 and establishes a homestead on or after January 1, 2027 would receive $25,000 for school levies and $50,000 for non-school levies at first. The full non-school exemption would kick in beginning with the fifth year of exemption.
If you're planning a move to Lakewood Ranch, Sarasota or Bradenton from out of state, talk with a tax professional about how this timing could affect you if the amendment passes.
A Lower Cap for Non-Homestead Property
This is the part investors and second-home owners should circle. Right now, assessments on non-homestead property, including rentals, second homes and commercial property, can rise up to 10% a year for non-school taxes. The amendment would lower that cap to 5% beginning January 1, 2027.
The cap doesn't follow the property forever. For residential property with nine units or fewer, a change of ownership still resets the assessment to just value the next year. In other words, a buyer would generally start fresh at market value, then benefit from the lower cap going forward.
Limits on How Local Governments Use Property Taxes
The amendment would also require counties and cities to use property tax revenue only for listed core purposes. These include public safety, education and schools, infrastructure and stormwater, natural resources and flood control, bond payments, retirement obligations, and county and municipal operations. How local governments respond, and what it means for services and other fees, is still an open question.
What This Means for You
Homeowners: If the amendment passes, homestead owners with higher assessed values could see meaningful savings on non-school taxes beginning with 2027 bills. Make sure your homestead exemption is filed and current.
Buyers: Remember that the amendment isn't law unless voters approve it. When budgeting for a purchase this year, use today's tax rules and treat any future savings as a bonus. If you're relocating, be aware of the proposed five-year phase-in for new residents.
Investors: The 5% cap could make future tax increases on rentals more predictable, but you'll still be reassessed at purchase. Underwrite your deals with taxes based on the purchase price, not the seller's current bill. That's always been true in Florida.
Sellers: Expect buyers to ask about this. Being able to explain the basics, and pointing them to official sources, builds confidence.
Stay Tuned Through November
A lot can be clarified between now and Election Day, including implementing legislation and analysis from state and local officials. I'll keep watching it, and I'm happy to walk through how today's rules affect a home you're considering. Call or text me at (941) 993-8311 or reach out through my contact page.
Luis Odon, REALTOR® Keller Williams Coastal Living II (941) 993-8311
This article is general information only and is not tax, legal or financial advice. It describes a proposed amendment that is not law unless approved by voters. Consult a tax professional and your county property appraiser about your situation. Equal Housing Opportunity.
