Overview
- The measure, which voters approved on Nov. 3, increases the non-school homestead exemption from $50,000 to $150,000 on Jan. 1, 2027 and to $250,000 on Jan. 1, 2028.
- County property appraisers say current homesteaded homeowners will be updated automatically and will see the first $150,000 exemption reflected in the August 2027 notices while still receiving normal November tax bills and paying school levies and non-ad valorem assessments.
- Eligibility rules require homeowners to claim homestead by Dec. 31 to qualify for the higher exemption, new Florida residents in 2027 must wait five years for the larger break, and renters who establish residency by Dec. 31 become eligible if they later buy a home.
- Local officials warn of large revenue losses and immediate budget work: Jacksonville’s city auditor projects roughly $300 million in annual lost property-tax revenue by 2029 and municipalities are weighing hiring freezes, program cuts, fee increases or millage changes.
- Gov. Ron DeSantis has pledged a special legislative session to set implementation rules and consider mitigation, and counties will need to rework budgets and administrative processes before the exemption phases in next year.