This proposed constitutional amendment would ask voters to cut property taxes by expanding the homestead exemption from $50,000 to $150,000 in 2027 for current Florida residents. The exemption then increases to $250,000 in 2028, but new movers to Florida would have to wait 5 years for the change. It would also limit future tax assessment increases for many rental, business, and other properties from 10% to 5% a year. It would limit county and city property tax spending to core services, and create a state fund to help local governments cover the gap. If passed by the legislature, it will appear on the 2026 November ballot to be decided by voters.
