Florida passes $250,000 homestead exemption that could erase property taxes

As Americans continue to flee high-tax blue states for lower-tax destinations, Florida lawmakers have just passed what supporters describe as a major win for economic freedom.

Moving to provide long-term property tax relief for residents, the Florida Legislature has cleared a historic, DeSantis-backed constitutional amendment for the November 2026 general election ballot that could eliminate non-school property taxes for many homeowners through a proposed $250,000 homestead exemption.

“I think it will be particularly appealing to people leaving the Northeast and other high-tax states who are evaluating where to establish permanent residency. The state already wins on weather and lifestyle. Tax policy simply becomes another advantage in an increasingly competitive relocation landscape,” Douglas Elliman’s Nick Malinosky told Fox News Digital.

“This proposal could strengthen that appeal, particularly among households planning a permanent move rather than purchasing a second home. I think it could encourage more families, retirees and remote workers to establish Florida residency,” Elliman colleague Lourdes Alatriste added.

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“The biggest beneficiaries may be families and retirees looking to establish permanent residency and maximize long-term savings,” The Corcoran Group’s Mick Duchon agreed.

Florida Gov. Ron DeSantis’-backed HJR 1-F passed in the state legislature on Tuesday, June 2, 2026. (Getty Images)

If Florida voters approve House Joint Resolution (HJR) 1-F in November, the amount of your home’s value that is exempt from certain property taxes would increase over the next two years. On Jan. 1, 2027, the homestead exemption would increase from the existing $50,000 to $150,000. One year later, in 2028, the homestead exemption would rise to $250,000. For some homeowners, that could reduce non-school local property taxes to zero.

A Florida Senate press release states that this sets up the framework “for full [tax] exemption over time.”

Residents who establish primary Florida residency on or before Dec. 31, 2026, would be eligible for the expanded exemption when it takes effect. However, those who move to the state after that deadline would have to wait four years before qualifying for the full $250,000 exemption.

“By increasing the homestead exemption, the proposal could help reduce the tax burden on primary residences and provide homeowners with greater financial flexibility year after year,” Alatriste said.

“What I’m hearing from clients is less about speculation and more…