Whether Florida is already home, a winter escape, or somewhere you're thinking about landing, this one affects your bottom line. Your 2026 tax bill doesn't change — the new rules begin January 1, 2027. Here's how it shakes out depending on your situation.
1. If this is your primary (homestead) home
Your homestead exemption on county, city, and special-district taxes grows from about $50,000 today to $150,000 in 2027 and $250,000 in 2028 (then inflation-adjusted). More of your home's value is shielded from tax — one county estimates roughly $2,400 a year in savings once fully phased in. School taxes aren't affected, and you don't need to re-apply.
2. If you own a second home or rental here
You don't get the homestead exemption — but there's still good news. The yearly cap on how fast your property's assessed value can rise drops from 10% down to 5%. That means slower-growing tax bills over time on second homes, rentals, and commercial property.
3. If you're thinking about making the move
Timing matters. New residents who weren't Florida residents by December 31, 2026 start with a $50,000 exemption and phase up to the full amount in their fifth year. The sooner you establish Florida residency, the sooner the full break kicks in. (Worth a quick chat with a tax pro — changing residency can affect taxes in your current state.)
A few honest caveats
- The cap limits how fast assessed value grows — it doesn't stop local governments from raising tax rates.
- Selling or transferring a property generally resets its assessed value to full market value the next January 1.
- The state legislature still has to pass rules to implement parts of this, so some details may be refined.
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