Florida Property Tax Elimination: What the 2026 Amendment Really Means for Your Home

By Gena McCulloch, REALTOR, Real Broker LLC. Florida native serving New Port Richey, Tarpon Springs, Pasco County, Tampa Bay, and Fort Lauderdale for more than ten years.
Published June 13, 2026

Florida property tax elimination just went from talk radio fantasy to a box on your ballot.

On June 2, 2026, the Florida Legislature passed House Joint Resolution 1F, the Save Our Homes from Excessive Property Taxes amendment, during a special session in Tallahassee.

On November 3, 2026, Florida voters decide its fate, and it needs 60 percent approval to pass. If it does, Governor Ron DeSantis says roughly 60 percent of Florida homeowners will owe exactly zero dollars in property taxes on their homes.

Zero. Not reduced. Not capped. Zero.

I have sold homes across New Port Richey, Tarpon Springs, Pasco County, and Tampa Bay for more than ten years, and I have never seen a single piece of legislation generate this many client phone calls this fast. So let us skip the spin and walk through what HJR 1F actually does, what it absolutely does not do, and the fine print that could cost or save you thousands, depending on when you read it.

What Is HJR 1F, the Florida Property Tax Amendment?

HJR 1F is a proposed constitutional amendment that supersizes the Florida homestead exemption, the slice of your primary home's value the tax collector cannot touch. It cleared the House 75 to 26 and the Senate 30 to 9, which in Tallahassee terms is a landslide.

The current homestead exemption is $50,000. Under HJR 1F, that number triples to $150,000 on January 1, 2027, then climbs to $250,000 on January 1, 2028. Starting in 2029, it rises automatically with inflation, so the benefit never quietly erodes.

Now, here is why this hits different in our backyard. The median home value across much of Pasco County, including New Port Richey, Port Richey, and Hudson, sits below or near that $250,000 line. Translation: a massive share of homeowners in 34652, 34653, and 34654 would watch their city and county property tax bills simply vanish by 2028.

Does the Amendment Apply to School Taxes?

No. Read that again before you celebrate, because this is the detail everyone misses.

The expanded exemption applies only to non-school levies, the taxes charged by counties, cities, and special districts. School district taxes survive untouched, and the existing $25,000 school exemption stays exactly as it is. Lawmakers carved schools out deliberately to protect K through 12 funding.

School levies typically run one-third to 40 percent of a Florida tax bill.

So picture your bill shrinking dramatically, not disappearing entirely, unless your home's value falls fully under the exemption. For many of my New Port Richey neighbors, it will.

What Happens to People Who Move to Florida After 2026?

This is where timing becomes money.

HJR 1F rewards people who are already here. Establish Florida residency after January 1, 2027 and you start with the old $50,000 exemption, then wait five years before the full enhanced benefit kicks in.

Five years. For a buyer eyeing New Port Richey, Tampa, or Fort Lauderdale, that waiting period is worth thousands of dollars, which means the smartest move on the board right now is closing and establishing residency before January 1, 2027. Florida still has no state income tax and remains one of the most tax friendly states in America, but the difference between buying in December 2026 and February 2027 just got very real.

What About Investment Properties, Rentals, and Commercial Real Estate?

The exemption party is homestead only. Investment properties, rentals, vacation homes, and commercial buildings are not on the guest list.
But investors did not leave empty handed. HJR 1F cuts the annual assessment cap on non-homestead properties in half, from 10 percent down to 5 percent, starting January 1, 2027. In plain English, the taxable value of your rental can no longer climb 10 percent a year.

For investors holding property in rental hungry markets like New Port Richey and Port Richey, that is predictability you can actually underwrite, and almost nobody in the national coverage is talking about it.

Could Florida Property Taxes Be Eliminated Entirely?

Here is the part that earned the national headlines.

HJR 1F does more than raise an exemption. It requires the Legislature to build a permanent process for increasing the homestead exemption over time, potentially all the way up to the full value of the property. Special districts could also offer additional relief, up to total elimination, with voter approval.

In other words, this amendment pours the legal foundation for completely ending non-school property taxes on Florida primary residences. Not tomorrow. Not guaranteed. But for the first time in state history, the architecture would exist, and that is why people on both sides are treating November 3 like a heavyweight fight.

What Are the Arguments Against the Amendment?

I tell my clients the truth even when it complicates the sales pitch, so here is the other side.

State economists project the amendment drains more than 8.4 billion dollars a year from local government budgets. City and county officials warn that money currently pays for parks, roads, libraries, and services, and that the shortfall could mean higher fees, service cuts, or costs quietly shifted onto renters and businesses. The amendment does force local governments to prioritize what remains for public safety, police, fire, EMS, infrastructure, and flood control, but prioritizing a smaller pie does not make the pie bigger.

Massive household savings on one side. Real budget pain on the other.

That is the honest trade voters are weighing, and anyone who tells you it is simple is selling something.

What Should Tampa Bay Buyers and Sellers Do Right Now?

Current homeowners: nothing. If it passes, the expanded exemption applies to your homestead automatically starting in 2027. Your job is simply to vote.

Buyers: the math is moving in your favor. Lower carrying costs mean more purchasing power, and analysts already predict the measure could supercharge Florida's pull on families, retirees, and remote workers. If you are relocating, remember the magic date, close and establish residency before January 1, 2027 and you skip the five year wait entirely.

Sellers: pay attention. If demand for homesteaded Florida properties heats up the way analysts expect, the upward pressure lands hardest on affordable and mid priced homes, which is precisely what New Port Richey and Pasco County are built on. Your equity may be about to get more interesting.

Frequently Asked Questions

When do Florida voters decide on the property tax amendment? November 3, 2026. The amendment requires at least 60 percent voter approval to pass.

How much is the new Florida homestead exemption? If approved, the exemption on non school levies rises to $150,000 in 2027 and $250,000 in 2028, with annual inflation adjustments beginning in 2029.

Will I still pay any property taxes if it passes? Most homeowners will continue to pay school district taxes. Homes valued above the exemption amount also pay non-school taxes on the value above the line.

Does the amendment help renters or investors? Renters receive no direct exemption. Investors and other non homestead owners benefit from an assessment cap cut from 10 percent to 5 percent annually.

I am moving to Florida in 2027. Do I get the full exemption? Not immediately. Residents arriving after January 1, 2027 receive a $50,000 exemption and qualify for the full enhanced exemption after five years of Florida residency.

The Bottom Line
HJR 1F is the biggest property tax decision Florida voters have faced in a generation, historic relief for homeowners, a legal pathway to full elimination, and an 8.4 billion dollar question for local budgets. The Legislature did its part on June 2. The rest belongs to you on November 3.

If you own a home anywhere from New Port Richey to Fort Lauderdale and want to know exactly what this amendment means for your property, your buying power, or your selling strategy, that conversation costs you nothing and could save you plenty. Reach me at genacoastalhomes@gmail.com or visit genatampabayrealtor.com.

Your home. My hustle. Family level service, every single time.

This article is provided for informational purposes and reflects legislation as of June 11, 2026. It does not constitute legal or tax advice. Consult a qualified tax professional regarding your individual circumstances.