With just weeks left in Florida’s 2026 legislative session, legislation addressing property taxes is beginning to move forward, but most legislative proposals may have to wait until next year.
Here’s what happened last week so far:
The Florida Legislature passed a constitutional amendment on the November 2026 ballot that would eliminate all non-school property taxes on homestead properties.
If the measure, in its current form, appears on this year’s state ballot and is approved by voters, it would immediately reduce local government tax revenues starting in 2027.
Florida Tax Watch says local governments will lose $14.7 billion in savings to taxpayers, making it the largest tax cut in Florida history. There are currently no property tax proposals before the Florida Senate.
“TaxWatch said in a press release that the tax cuts will further expand the multibillion-dollar shift of taxes from homeowners to renters, businesses, and first-time homebuyers that our nation’s property tax system already creates.There are also capital concerns for local governments, which vary widely in their reliance on property taxes to fund services.
“While we support significant property tax relief, we have concerns about the impact this proposal would have on taxpayer equity,” the group said.
Other tax proposals passed by the Florida House include HB 103, which would eliminate $200 million worth of local business taxes.
The Senate passed SB 434, which prohibits increasing the assessed value of residential properties based on improvements made to make them more wind resistant.
HB 5501 would divert $60 million in stamp taxes from the General Fund to fund Florida rail projects.
HB 1035 promotes the use of green infrastructure and nature-based solutions to increase resiliency.
HB 1177 aims to revitalize Space Florida. The bill passed the second committee. However, the sales tax exemption and property tax exemption were removed from the commission’s representation.
Other items the Legislature will take up include funding for public education, Everglades restoration and water quality, pay raises for state employees, the Florida National Guard, the Governor’s Employment Promotion Grant Fund, and relocating the USF Manatee-Sarasota campus to New College.
