Legislative Update
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Proposed 2026 Florida Property Tax Amendment (CS/HJR 1F)
How Could the Amendment Affect Different Property Owners?General Information
Homestead Exemption> What is the current homestead exemption? > What changes are proposed for homestead property? > What if I become a Florida resident on January 1, 2027 or later? > What if I become a Florida resident on January 1, 2027 or later? Can I move to Florida in 2027 and immediately receive the $150,000 or $250,000 exemption? > Would the proposed exemption apply to school taxes? > Would every homestead property receive the same tax savings? > Can the Property Appraiser’s Office calculate my exact savings today? No.
Actual savings cannot be determined until the implementing legislation is finalized and future tax rates are established.
If the amendment is approved by the voters, the Property Appraiser’s Office intends to update its tax estimator to help property owners estimate potential impacts under the two outlined Florida residency scenarios.
For illustrative purposes only, estimated savings using the 2025 countywide aggregate average non-school millage rate are shown below:
How were these estimates calculated?
The proposed amendment would replace the current homestead exemption structure.
For 2026, the current homestead exemption is $51,411, consisting of:
- $25,000 exemption applicable to all millages.
- $26,411 exemption applicable to non-school millages after CPI adjustments certified by the Florida Department of Revenue.
Therefore, the estimated increase in exempt value would be:
Year Proposed Exemption Current Exemption Replaced Additional Exemption 2027 $150,000 $51,411 $98,589 2028 $250,000 $51,411 $198,589 Estimated Savings Based on the Countywide Average Non-School Millage Rate Year Additional Exemption Estimated Savings 2027 $98,589 Approximately $1,203 2028 $198,589 Approximately $2,423 Assumptions
- Assumes the property receives the full exemption amount.
- Uses the 2025 countywide aggregate average non-school millage rate of 12.2011 mills.
- Actual millage rates vary throughout Pinellas County based on municipality, fire district, MSTU, and other applicable taxing districts. Therefore, savings may be higher or lower than these examples.
- Assumes no future changes in millage rates.
- Does not include future CPI adjustments to exemption amounts.
- Non-ad valorem assessments are not included.
- $26,411 exemption applicable to non-school millages after CPI adjustments certified by the Florida Department of Revenue.
Important Reminder
These examples are intended only to illustrate how the exemption may affect taxable value. Actual tax impacts will vary by property and depend on future tax rates, exemption eligibility, and implementing legislation.
> Does the amendment stop at a $250,000 homestead exemption? - Save Our Homes and Existing Exemptions
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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.