DeSantis' property tax cuts head to statewide vote in November

What’s happening

The Florida Legislature has approved a proposal that would significantly increase the state’s homestead exemption — the property tax break that primary-residence owners get on their Florida home. The measure now heads to a statewide vote on the November 2026 ballot.

If approved, the change would lower the annual property tax bill for owners who legally claim a Florida home as their primary residence.

Why this matters if you’re buying

Florida’s homestead exemption is one of the most underrated reasons to make a Florida purchase your primary residence — and one of the most misunderstood. Today, the exemption removes a portion of your home’s assessed value from property taxation, plus caps annual increases on that assessed value (the “Save Our Homes” cap).

If you’re buying in Florida and plan to live in the home as your primary residence, this matters:

• Higher exemption = lower annual bill. A bigger exemption directly reduces what you pay each year.
• It only applies to your primary residence. Vacation homes, rentals, and second homes do not qualify.
• Timing matters. You generally must own and occupy the home as of January 1 to get the exemption for that tax year, and you have to file the exemption with the county property appraiser.

What this doesn’t change

Nothing changes until — and unless — voters approve the measure in November 2026. Your closing costs, escrow calculations, and 2026 tax bill all reflect today’s rules.

Related FAQs

• Florida property taxes explained
• Homestead exemption explained
• Closing costs in Florida