Celebrating 50 Years
)
If you're buying a home in Florida in 2026, you may have heard a lot about the state's homestead exemption and a proposed change that could provide homeowners with additional property tax savings.
There are two important things to understand. One is already Florida law. The other is a proposed constitutional amendment that Florida voters will consider in November. And if you're buying a home this year, there is an important deadline to keep in mind.
Understanding how these benefits work can help you plan for your future property taxes and make the most of the benefits available to Florida homeowners.
What is Florida's Current Homestead Exemption?
When you buy a home in Florida and make it your primary residence, you may qualify for a homestead exemption. This exemption reduces the taxable value of your home, which can lower your property tax bill.
Under current Florida law, homeowners can receive up to a $50,000 homestead exemption. To receive it, you'll need to apply through your county property appraiser's office. The general deadline to file is March 1.
The homestead exemption also connects to an important benefit known as Save Our Homes. Once you qualify for homestead, Save Our Homes can limit how much the assessed value of your home increases each year, helping protect you from large increases in taxable value as home values rise.
If you're moving from another Florida homestead, you may also be able to transfer some or all of your existing Save Our Homes benefit to your new home through portability. Be sure to check with your local property appraiser for the requirements and deadlines.
A Bigger Homestead Exemption Could Be Coming
The second change is a proposal, not current law.
Florida voters will consider a constitutional amendment in November 2026 that would increase the homestead exemption for qualifying county and municipal property taxes.
If approved, the exemption would increase to:
- $150,000 beginning January 1, 2027
- $250,000 beginning January 1, 2028
- The $250,000 amount would then be adjusted annually for inflation beginning in 2029
There's an important detail here: The increased exemption would apply to non-school property taxes. It would not apply to school district taxes, and the existing $25,000 school-related homestead exemption would remain.
So, this proposal wouldn't simply make the first $250,000 of your home's value tax-free. Instead, it would provide a larger exemption against qualifying county and municipal property taxes. Your actual savings would depend on your home's assessed value and local tax rates.
Don't Confuse the Two "Save Our Homes" Programs
The name can make this confusing. Florida's existing Save Our Homes assessment limitation helps limit annual increases to the assessed value of a qualifying homesteaded property.
The proposed amendment is called "Save Our Homes from Excessive Property Taxes." While the names are similar, they're not the same thing. The proposed amendment would increase the homestead exemption rather than replace the existing Save Our Homes assessment limitation.
What Does This Mean for Florida Homebuyers?
For buyers, the takeaway is pretty simple: If your new Florida home will be your primary residence, make sure you understand and apply for your homestead exemption.
The existing exemption is already available to eligible homeowners, and applying on time can also establish eligibility for Save Our Homes protections.
At the same time, keep an eye on the November 2026 election. If voters approve the proposed constitutional amendment, the larger exemption would begin in 2027 and could provide additional property tax savings for qualifying homeowners.
Property taxes vary by location and individual circumstances, so it's always a good idea to check with your local property appraiser for the most up-to-date information about your home's exemptions, deadlines, and potential tax savings.
Ready to explore your options for living in Florida? Whether you're searching for your first home, relocating to the Sunshine State, or looking for a new construction community that fits your lifestyle, explore our communities in Florida to find your perfect place to call home.
Recommended Stories
What is an In-Law Suite? (Types, Costs, & Floorplan Ideas)
