Florida Legislature OKs tweaked property tax amendment for November ballot

The Florida House and Senate passed a tweaked version of a major proposal to cut local property taxes on Wednesday.

Now the amendment goes before the voters on the November ballot. It will need to pass with 60% approval from voters to be added to the Florida Constitution.

The bill, HJR 1F, passed the Florida House with a 75-26 vote and in the Florida Senate with a vote of 30-9.

You can read the bill HERE.

The proposal increases the current $50,000 exemption on homestead property taxes to $150,000 for 2027, and to $250,000 in 2028. The exemption will not apply to school district taxes.

The proposal also lowers the current 10% cap on annual assessment increases for non-homestead properties to 5% starting next year. Those properties include vacation and investment homes, apartments and commercial properties.

The proposal also creates a list of things that local ad valorem taxes are allowed to be used for:

1. Provide for public safety, including law enforcement, fire service, and emergency medical service
2. Provide funding for education and public schools
3. Finance or refinance infrastructure, including expenditures on road and bridge construction and maintenance and stormwater control
4. Finance or refinance natural resource projects, including flood control measures
5. Issue local bonds for uses consistent with this section and make debt payments for existing obligations
6. Cover retirement benefits for local government employees
7. Fund the operations of local officers and commissioners, such as supervisors of elections, property appraisers and comptrollers.

Finally, anyone who moves to Florida after Jan. 1, 2027 has to maintain Florida residency for five years before receiving the increased homestead exemption.

This is a developing story. Check back for updates.