Florida Legislature approves property tax amendment for 2026 ballot

The Florida Legislature has advanced a constitutional amendment that would reduce property taxes for homesteaded properties while limiting annual valuation increases for non-homesteaded properties, setting up a statewide vote on the tax changes.

The ballot measure, which received approval from state lawmakers, aims to provide financial relief to Florida homeowners through adjustments to the current property tax structure. If approved by voters, the amendment would alter how property taxes are calculated for both primary residences and investment properties across the state.

Under the proposed constitutional change, homesteaded properties would see certain tax reductions. The measure would also impose stricter caps on how much property valuations can increase each year for non-homesteaded properties, which include rental properties, second homes, and commercial real estate.

Supporters of the amendment argue the changes will provide necessary relief for Florida homeowners who have faced rising housing costs and property valuations in recent years. The measure represents an effort to address concerns about property tax burdens on residents who claim their homes as primary residences.

Critics of the proposal have raised concerns about the potential impact on local government funding. They warn that reducing property tax revenues could constrain budgets for essential public services, including schools and public safety operations. Local governments in Florida rely heavily on property tax revenue to fund these services.

The amendment must be placed before voters in a future election. Constitutional amendments in Florida require approval from 60 percent of voters to be adopted.

Property taxes in Florida are determined by local governments but are subject to state constitutional limitations. The current system includes protections for homesteaded properties through the Save Our Homes amendment, which caps annual assessment increases at 3 percent or the rate of inflation, whichever is lower, for primary residences.

The proposed changes come as Florida's real estate market has experienced significant growth, with property values increasing substantially in many areas of the state. This has led to higher tax bills for property owners, even with existing caps in place.

Gov. Ron DeSantis, a Republican, has not publicly stated his position on the measure. The amendment will require a statewide campaign as supporters and opponents make their cases to voters ahead of the election.