Lower Taxes in Florida: How Will the 2026 Changes Benefit You?
- By Miguel E. Hernandez
- Oct 19, 2025
Florida is proposing historic tax reform for 2026. Discover the amendments that could reduce your property taxes and how to prepare.
The dream of homeownership in Florida is increasingly attractive, but property taxes are a major consideration for any homebuyer or owner. Imagine being able to significantly reduce that annual tax burden. Thanks to an ambitious series of legislative proposals, this scenario could become a reality by 2026. The Florida House of Representatives, under the leadership of Daniel Perez, has put several constitutional amendments on the table that seek historic tax relief for homeowners. In this article, we'll break down what these changes mean, how they could directly benefit you, and why Now is the perfect time to plan your real estate future in the Sunshine State.
If we trust voters to elect us, we shouldn't be afraid to let them be part of the conversation about the taxes they pay.Daniel Perez, Speaker of the Florida House of Representatives
What is the 2026 Property Tax Reform?
Sponsored by Governor Ron DeSantis and the House of Representatives, this initiative seeks to present Florida voters with a series of options on the 2026 ballot. The main objective is clear: to reduce the burden of property taxes in Florida for primary residences (known as "homesteads"). Far from being a single plan, multiple proposals have been put forward, giving citizens the power to decide the future of their tax system. Let's explore the most impactful measures being debated.
The Key Proposals That Could Line Your Pocket
These amendments range from additional exemptions to structural changes in the way taxes are calculated. Here we explain the most relevant ones:
1. Reduction and Possible Elimination of the "Homestead" Tax
Two of the boldest proposals go straight to the heart of the homestead tax. One (HJR 201) seeks to completely eliminate property taxes, excluding the portion designated for schools. Another (HJR 203) proposes a ten-year phase-out, increasing the tax exemption by $100,000 each year. Either option would represent massive savings for property owners.
2. New Exemptions for Homeowners
In addition to the general changes, there are benefits targeted at specific groups:
- Persons 65 and Older: It is proposed (HJR 205) to exempt seniors from paying non-school taxes on their primary residences.
- First-Time Homebuyers: A new 25% exemption on assessed value (HJR 207) could be a decisive boost for those seeking to buy a home in Florida for the first time.
- Homeowners with Insurance: To incentivize property protection, an additional exemption has been proposed (HJR 209) $100,000 for those with homeowners insurance.
3. Modernization of the "Save Our Homes" Program
The "Save Our Homes" (SOH) program is one of the largest benefits for homeowners in Florida, as it limits the annual increase in a property's assessed value to 3%. The new proposals seek to improve it:
- Full Portability: It would allow (HJR 211) to transfer 100% of the accumulated value of SOH benefits to a new home, making it easier to move without losing the accumulated tax savings.
- Modified Limits: Another idea (HJR 213) is to change the limit from 3% annually to 3% every three years, offering greater predictability and long-term stability.
How Does It Affect You if You Want to Buy in Miami?
These reforms not only benefit current homeowners, but also create a golden opportunity for future buyers. A lower tax burden translates into a lower monthly cost of homeownership, which increases your purchasing power and makes the investment even more profitable. If you're thinking about investing in the Miami real estate market, anticipating these changes is a smart strategy. The first step is knowing your financial capacity so you're ready when the perfect opportunity arises.
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Frequently Asked Questions (FAQs)
1. Have these tax cuts already been approved?
No. They are currently House proposals. They must be debated and, if approved by the legislature, will be presented to Florida voters on the November 2026 ballot for final approval.
2. What is the "homestead" exemption? currently?
Today, owners of primary residences in Florida can qualify for an exemption on the first $25,000 of taxable value, and an additional exemption on values between $50,000 and $75,000, thereby reducing their tax bill.
3. How do these changes affect investment properties (non-homestead properties)?
One of the proposals (HJR 213) seeks to change the cap on assessed value increases for nonresidential properties from the current 10% per year to 15% every three years. This could offer more tax stability for investors over the medium term.
4. Should I Wait Until 2026 to Buy a Home?
Waiting in real estate can be risky. Buying now allows you to lock in current prices and interest rates and begin building equity. Potential tax reductions in 2026 would be an incredible bonus to an already solid investment.
Bottom Line: Prepare for a Brighter Tax Future in Florida
Florida's real estate horizon looks brighter than ever. These 2026 tax reform proposals have the potential to transform the cost of homeownership, making real estate investing more accessible and profitable. Staying informed and having the right advice is essential to capitalize on these future advantages.
The NegocioMiami team is closely monitoring these developments to offer you the best strategy. If you want to position yourself for success, the time to act is now.