The Florida Legislature has passed House Joint Resolution 1-F (HJR 1-F), a sweeping property tax overhaul that aims to dramatically expand homestead exemptions across the Sunshine State. Now that the resolution has cleared both legislative chambers, the decision moves directly to Florida voters on the November 3, 2026 ballot.”

If approved by a 60% voter supermajority, this constitutional amendment will fundamentally reshape Florida real estate, local government budgets, and annual carrying costs for primary homeowners.

Key Details of the New Homestead Proposal

The final version of the proposal offers direct relief to primary residents while establishing strict rules for new arrivals and commercial properties.

1. Exponential Increase to the Homestead Exemption
Currently, Florida offers a baseline $50,000 homestead exemption. Under HJR 1-F, the taxable value reduction for primary residences will skyrocket for non-school property tax levies:

• January 1, 2027: The exemption surges to $150,000.
• January 1, 2028: The exemption climbs to $250,000.
• 2029 and Beyond: The exemption will automatically adjust annually to keep pace with inflation.

2. School District Levies Remain Untouched
To safeguard local education funding, the expanded exemption applies only to non-school ad valorem property taxes (such as county, city, and special district assessments). School district property tax levies will retain their current structures, ensuring local schools do not face immediate revenue shortfalls.

3. A 5-Year Waiting Period for New Residents
To ensure fairness for longtime taxpayers, any individual who establishes Florida residency after December 31, 2026, face restrictions. They will receive a temporary exemption of up to $50,000 on non-school levies. They must occupy their primary home and maintain Florida residency for five years before qualifying for the full $250,000 super-exemption. If you’re considering making Central Florida your primary residence, browse available homes across Seminole County and surrounding areas.”

4. Non-Homestead Property Protections
Landlords, business owners, and vacation home investors will also see massive relief. The proposal slashes the annual limit on assessment valuation increases for non-homestead properties from 10% down to 5% starting in 2027. This provides a highly predictable and stable tax environment for commercial real estate.

What Happens Next?

Because HJR 1-F proposes a constitutional amendment, it bypasses the Governor’s desk for signature and heads straight to the people. Florida voters will make the ultimate decision during the general election.
If it secures at least 60% of the vote, the initial tax reductions roll out on January 1, 2027. Homeowners should track their local listings and check the official Florida Legislature Portal to monitor ballot progress. In the meantime, if you’re wondering how this proposal might affect your decision to buy or sell, visit my Sellers page for a free home value estimate.