Florida voters will decide in November 2026 whether to dramatically cut property taxes for homesteaded homeowners. The measure has not passed yet. But the deadline that matters most for buyers is not November; it is January 1, 2027.
The Mastropieri Group, a luxury real estate brokerage serving Palm Beach and Broward Counties, has been fielding questions from buyers weighing whether to move up their purchase timelines before the deadline. Here is what the proposal actually does, why the January date matters, and what buyers and investors each need to understand before acting.
On June 2, 2026, the Florida Legislature passed HJR 1F, Governor DeSantis's "Save Our Homes from Excessive Property Taxes" constitutional amendment, by a vote of 75-26 in the House and 30-9 in the Senate. It now goes to voters in November 2026 and requires 60% approval to take effect.
The current homestead exemption is $50,000. Under the new plan, it would rise to $150,000 in 2027 and $250,000 in 2028. At $250,000, approximately 60% of Florida homesteaded homeowners would pay zero property taxes on the non-school portion of their bill. School district levies are carved out and still apply. The projected revenue impact to local governments exceeds $8.4 billion per year statewide.
Buried in the proposal is a residency provision that directly affects anyone establishing a new homestead after the cutoff. If you purchase a home and make it your primary residence after January 1, 2027, you may have to wait up to five years before qualifying for the full exemption. This applies to first-time buyers, people relocating to Florida, and current Florida homeowners who sell and buy a new primary residence.
The exemption applies only to homesteaded primary residences. Investment properties, second homes, and rentals do not qualify – and may face a higher tax burden as homesteaded properties are removed from the tax roll. Florida League of Cities president Holly Smith noted the structural shift: when homesteaded properties come off the tax roll, the cost of municipal services does not disappear – it redistributes to businesses and non-homesteaded properties. For investors underwriting rental income in Florida, that redistribution is a risk worth factoring into long-term projections.
For renters, the outcome may be counterintuitive. Landlords of non-homesteaded rental properties facing higher tax exposure could pass those costs through in the form of higher rents – an ironic result for a measure framed as affordability relief.
The constitutional amendment goes to voters in November 2026. If approved, the $150,000 exemption takes effect in 2027 and the $250,000 exemption in 2028. The five-year waiting period for new homesteads established after January 1, 2027 would also apply from that date. For buyers with a Florida purchase already under consideration, the timeline is now clear. Closing on a primary residence before January 1, 2027 is the condition for immediate eligibility – assuming voters approve the measure. The vote happens in November, which leaves a narrow window to close before the deadline if the result is favorable.
As Larry Mastropieri noted on the Discover South Florida Podcast: "The big red alert is that if you buy a home after January 1, 2027, and make it your primary residence, you may have to wait five years before getting the new exemption. If you believe this will pass and want to take advantage of it right away, you need to buy before the end of 2026. This creates a situation where buyers may have to make a bet before the vote even happens."
