Florida homeowners may get a major tax break but theres a catch for newcomers

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.“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.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.Morning Report delivers the latest news, videos, photos and more.

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Never miss a story.For some homeowners, that could reduce non-school local property taxes to zero.A...