Florida property tax elimination for homeowners could start in 2027

A major reprieve from Florida’s property taxes may be coming much sooner than residents, lawmakers and real estate experts previously thought.

Last week, the state’s House advanced an amended HJR 203 bill that would effectively turn off the tax switch for homesteaded properties starting Jan. 1, 2027.

“Florida’s success has been built on smart fiscal policy, economic opportunity and a very clear identity. Major tax reform should strengthen those pillars, not complicate them,” OneWorld Properties President and CEO Peggy Olin told Fox News Digital.

“From where I sit,” she continued, “working with buyers across the country and around the world, confidence in the state’s long-term stability matters just as much as any short-term savings. If Florida can deliver meaningful relief while maintaining strong infrastructure and services, it will continue to lead. And based on what I’ve seen over the past 25 years, when Florida gets the balance right, growth follows.”

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Backed by Gov. Ron DeSantis, the bill — originally proposed in October — works toward the state’s long-discussed “zero tax” goal. The language of HJR 203 explains how homesteaded properties would stop paying city and county property taxes entirely but could still pay roughly 35% to 50% of their total bill in school taxes. So even though property tax bills won’t go to zero, they could be cut in half or more.

Homes from an aerial view in Palm Beach Gardens, Florida, on Sunday, Jan. 11, 2026. (Getty Images)

The newly passed amendment removed a 10-year phased-in plan and instead offers a fast-track timeline for homeowners to see maximum savings in their first tax bill of 2027 if 60% of voters approve it on the 2026 midterm ballot.

“I’m generally supportive of thoughtful tax relief, as it’s part of what has made Florida such a powerful growth story over the past decade,” Olin argued. “Homestead protections are core to the state’s identity, and giving full-time residents breathing room is always appealing.”

“Infrastructure, public safety and services don’t disappear just because a revenue line does. The intention is strong to protect homeowners, but the execution has to be disciplined,” she expanded. “Florida’s competitive edge isn’t just low taxes; it’s quality of life. We have to preserve both.”

State economists have warned that the plan could dig a $14.8 billion hole annually for local governments, and critics worry that if…