"Florida is getting rid of property taxes" is a headline I've heard a lot this year. The reality is more nuanced, and Florida voters have now decided.
What's actually on the table
Lawmakers in several states have proposed cutting, capping or eliminating property taxes on primary homes. In most cases, these aren't laws yet. They need a legislature to act and, in states like Florida, voters to approve a constitutional amendment.
Florida is furthest along. In a June 2026 special session, the Legislature passed CS/HJR 1-F (House 75–26, Senate 30–9). It appeared on the November 3, 2026 ballot as Amendment 3 and needed 60% of the vote. As of November 5, 2026, Election Watch from the Florida Division of Elections shows it passed with 4,917,796 Yes votes (61.98%) and 3,016,195 No votes (38.02%), out of 7,933,991 total. Results may still be unofficial until certification. Starting January 1, 2027 it will:
- Raise the homestead exemption from non-school property taxes to $150,000 in 2027 and $250,000 in 2028, then adjust it for inflation, for people who were Florida residents by December 31, 2026
- Start newer residents at a $50,000 exemption, rising to the larger amount from their fifth year
- Lower the annual cap on assessment increases for non-homestead property, like second homes and rentals, from 10% to 5%
- Limit what counties and cities can spend property tax revenue on
Notice what it doesn't do: school taxes stay, so even a homestead owner will still get a tax bill.
The other five states in the video are Ohio, Pennsylvania, Texas, Georgia and North Dakota. Their proposals move quickly, so I'd check each state's legislature directly rather than rely on a headline.
The big question: who pays instead?
Property taxes fund schools, police, fire and roads. If they shrink, that money has to come from somewhere: sales taxes, fees, other taxes or cuts. That trade-off is why many of these proposals face pushback.
What it means for owners
With Amendment 3 approved, primary-home owners will see the biggest change. Second-home and investment owners will mainly feel the lower 5% assessment cap over time. I'd still budget with today's tax rules until the new exemption amounts take effect, and I wouldn't make a buying decision on the amendment alone.
What I'd do now
- Use today's tax rules when budgeting until the 2027 changes begin.
- If you're buying a primary home, file for homestead on time.
- Ask how the larger homestead exemption and the 5% non-homestead cap will affect your specific property once the new rules phase in.
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— Joel Poulin, Broker Associate | The Corcoran Group · (561) 556-3668