06/02/2026
This would be ideal. In 2008, Florida enacted laws designed to help primary homeowners by providing a homestead property tax exemption and capping the amount that a property’s assessed value can increase each year.
The problem is that the exemption structure was based on property values that no longer reflect today’s housing market. Homeowners with properties valued over $75,000 receive the full exemption benefit, which is only $50,000 off of the assessed value while those with properties valued below $75,000 receive a smaller benefit. In today’s market, there are very few livable homes available for less than $75,000, making that threshold largely outdated and ineffective.
The homestead exemption limits should be increased to better reflect current property values and provide meaningful relief to homeowners. Consideration should also be given to creating additional exemption tiers, as well as increasing homestead benefits for veterans who are not fully disabled and for senior citizens.
In addition, there should be a cap on how much counties can increase assessed values on all properties, including investment properties. Rising property taxes often lead to higher rental costs, which directly affects tenants. While primary residences currently benefit from a 3% assessment cap, local governments can still increase tax rates. Investment properties should have a reasonable assessment cap, such as 5%, to create a balanced solution that benefits both property owners and renters.
Another issue is the reassessment of property values after a home is sold, which can result in significant tax increases for new homeowners. Property tax laws have not kept pace with inflation, and residents have been bearing the burden for years.
Voters will have an opportunity to address these issues this November. While a final proposal has not yet been selected, there are many areas of Florida’s property tax system that deserve careful review and reform. These issues affect everyone who owns a home, rents a home, or plans to purchase a home in the future.
