You may have seen headlines suggesting Florida just eliminated property taxes. That's not accurate — nothing has changed yet, and no homeowner's bill is different today than it was last year. What actually happened is narrower, but still significant: the Legislature voted to place a major homestead exemption expansion on your November 2026 ballot, and it becomes law only if voters approve it.
What the Legislature actually did
During a special session, Florida lawmakers passed a proposed constitutional amendment and placed it on the November 3, 2026 general election ballot. Because it amends the state constitution, it needs at least 60% voter approval to take effect — a higher bar than a typical majority vote.
What it would change, if approved
The amendment focuses on the non-school portion of your property tax bill — city, county, and special district levies, not school taxes, which would be unaffected either way. If voters approve it:
- The non-school homestead exemption would increase to $150,000 in 2027, then $250,000 in 2028, with inflation adjustments after that
- The annual assessment increase cap on non-homestead property — second homes and investment property — would drop from 10% to 5%
- Homeowners who are permanent Florida residents as of December 31, 2026 would qualify for the full increased exemption starting in 2027
- Homeowners who become permanent residents after that date would start with the current, smaller exemption and phase up to the full amount over five years
Nothing changes on your tax bill unless and until voters approve this in November — plan around current law until then, not around headlines.
What it would mean for Southwest Florida specifically
A larger homestead exemption is a meaningful number for full-time homeowners across Naples, Bonita Springs, Estero, Fort Myers, and Cape Coral, though the real dollar savings depends on your local non-school millage rate, which varies by county and municipality. For buyers relocating from out of state, the residency cutoff date is worth paying attention to — when you establish Florida permanent residency affects how quickly you'd reach the full exemption.
The bottom line
This is a real, significant proposal — not a done deal. It goes to voters on November 3, 2026, and needs 60% approval to become law, with most provisions taking effect January 1, 2027 if it passes. Worth watching, not worth acting on yet. We'll follow up here once the results are in.