Florida's "Save Our Homes from Excessive Property Taxes" amendment is on the November 2026 ballot. If voters approve it, homestead exemptions could rise from $50,000 to $250,000 by 2028. Use Ann's calculator below to see exactly what it could mean for your tax bill — year by year.
Your homestead exemption reduces your home's taxable value. A larger exemption = less taxable value = lower tax bill. Here's how it changes if the amendment passes.
Your Florida home must be your primary residence and you must have applied for the homestead exemption by March 1st. New Florida residents who move here after January 1, 2027 would receive only a $50,000 non-school exemption for their first five years of residency before the full exemption kicks in.
The new exemption only applies to non-school levies (county, city, special districts). Your school district portion — about 6.5 mills in Broward — continues to be calculated on the assessed value minus only $25,000, regardless of the amendment. This limits the total savings.
Existing homestead owners already benefit from the Save Our Homes cap — your assessed value can only increase 3% per year (or CPI if lower), even if your home's market value jumps much more. The new amendment works on top of this protection. New buyers start fresh at market value.
Enter your property details below to see a year-by-year comparison of your estimated tax bill — under current law and if the 2026 amendment passes.
All figures are estimates. Verify your exact millage rate at bcpa.net or on your annual TRIM notice.
| Year | Non-School Exemption | School Exemption | Est. Annual Tax | Annual Savings vs. 2026 |
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If the amendment passes, a home you purchase now could cost you significantly less in property taxes by 2028. At $250,000 in non-school exemptions, many mid-priced homes in Fort Lauderdale will see non-school taxes cut by 50–70%.
Keep in mind: when you buy a home, the assessed value resets to market value — meaning you start at a higher assessed value than the previous owner who benefited from the SOH cap. The new exemption helps offset this.
Lower property taxes make Florida homeownership more attractive to buyers — which is good news for sellers. Reduced tax burden can expand the pool of qualified buyers and support property values.
Remember portability: if you've accumulated significant Save Our Homes savings on your current home, you can port up to $500,000 of that benefit to your next Florida home. This is one of the most underused benefits in Florida real estate.
Have questions about how the amendment affects your specific situation — as a buyer, seller, or renter? Ann can walk you through the numbers.
Whether you're buying, selling, or just trying to understand how the amendment affects your home's value — Ann is here to help.
