Legislative Update

• Proposed 2026 Florida Property Tax Amendment (CS/HJR 1F)

  General Information

  How Could the Amendment Affect Different Property Owners?

  Property Owner Type	Potential Effects
  First-Time Recent Homesteaders	A larger homestead exemption may reduce future non-school property taxes. Because recent buyers often have taxable values closer to market value, they may be more likely to receive the full benefit of the proposed exemption. Lower property tax obligations may also affect housing affordability and purchasing power.
  Existing Homestead Owners	A larger homestead exemption may reduce or, in some cases, eliminate non-school taxable value. Impact will vary depending on existing Save Our Homes benefits and other exemptions.
  New Florida Residents (On or After January 1, 2027)	Would begin with the exemption amount established for new Florida residents ($50,000, adjusted annually by CPI beginning in 2028). The larger exemption would become available after maintaining a Florida homestead exemption for four years and would first apply beginning January 1 of the fifth year.
  Fully Exempt Owners (100% Disabled Veterans, Religious, Charitable, and Certain Institutional Properties)	Not likely to experience a direct benefit because these owners already receive substantial or complete ad valorem tax exemptions.
  Non-Homestead Residential Commercial Owners	May benefit from the reduction of the non-homestead assessment limitation from 10% to 5%, which may slow future assessed value growth. However, the reduction from 10% to 5% only caps assessed value, not taxes. School taxes would continue to be uncapped and based on Just/Market Value.
  Important: The proposed homestead exemption and assessment limitation changes affect taxable value, not tax rates. Future property tax bills may also be affected by changes to millage rates, non-ad valorem assessments, and fees established by taxing authorities.

  
  
  Homestead Exemption
• Save Our Homes and Existing Exemptions
• Non-Homestead Property
  Property Taxes and Local Government Funding
  Questions We Cannot Yet Answer
• Additional Information
• 
  Effective for June 2025 – Changes to Assessment Limitations after Calamity
• Filed for 2025 – Disclosure of Ad Valorem Taxes (Tax Estimator Bill)
• Effective for 2025 - Amendment 5: Annual Adjustment to Homestead Exemption Value
• Effective for 2024 – Changes to T&P Disabled Veteran (or surviving spouse) Exemption Requirement
• Effective for 2024 – Revision to the Definition of First Responder
• Effective for 2024 - Affordable Housing Exemption
• Effective for 2023 – Increase to the Widows, Widowers, Blind Persons, or Persons Totally and Permanently Disabled Exemption (Increased from $500 to $5,000)
• Nov. 2022 - Amendment 1: Limitation on Assessment of Real Property Used for Residential Purposes (Property Assessments for Elevated Properties)
• July 2022 – Abatement of Taxes for Residential Dwellings Rendered Uninhabitable by Catastrophic Event
• May 2022 – Condo Safety Legislation
• Nov. 2020 – Amendment 5: Extend "Save Our Homes" Portability Period
• Nov. 2020 – Amendment 6: Homestead Property Tax Discount for Spouses of Deceased Combat Veterans

Legislative Update

Questions and Answers

This is your resource for up-to-date information on what’s happening in the Florida Legislature as well as local municipalities relating to ad valorem taxation and exemptions and how it may impact property owners in Hillsborough County.