Could Florida Eliminate Property Taxes on Homesteaded Homes? Here’s What Homeowners Need to Know

A major property tax proposal is making headlines across Florida and could significantly impact homeowners throughout Sarasota, Lakewood Ranch, Venice, Bradenton, and beyond.

Governor Ron DeSantis recently unveiled the “Save Our Homes from Excessive Property Taxes” proposal, a plan aimed at providing property tax relief for Florida homeowners by increasing homestead exemptions and creating a path toward eventually eliminating property taxes on primary residences.

According to the Governor’s office, local government property tax collections have nearly doubled over the past seven years, increasing from approximately $32 billion to $60 billion, with projections reaching $83 billion by 2032. The proposal is designed to provide relief for Florida homeowners facing rising housing costs and property tax bills.

What Would the Proposal Do?

The plan would:

– Increase the homestead exemption significantly

– Create a framework for the future elimination of property taxes on homesteaded properties

– Limit future assessment increases on businesses

– Establish funding mechanisms to help local governments continue providing essential services

– Require new Florida residents after January 1, 2027 to maintain Florida residency for a period before qualifying for enhanced homestead benefits

One of the most talked about components would increase the current homestead exemption from $50,000 to $250,000. According to the Governor, that change alone could eliminate property taxes for approximately 60% of Florida homeowners.

What Happens Next?

The proposal is still in the early stages.

It would need approval from the Florida Legislature before being placed on a future statewide ballot, where Florida voters would ultimately decide whether to approve the constitutional amendment.

What Could This Mean for Homeowners?

If approved, homeowners could see substantial long term savings on their primary residence. However, many questions remain regarding how local governments would replace funding currently generated through property taxes for services such as public safety, infrastructure, schools, and community programs. Various experts and policymakers continue to debate the potential benefits and challenges of the proposal.

The Bottom Line

This proposal has the potential to become one of the most significant property tax reforms in Florida history. While nothing has been approved yet, it is certainly a topic Florida homeowners should be watching closely over the coming months.

With 8+ years of experience, I’m a multi-million-dollar top producer and trusted Sarasota real estate agent serving Sarasota and Manatee counties. As a high-performing local Realtor®, I combine strategic marketing, expert negotiation, and deep neighborhood knowledge to help buyers, sellers, and relocations succeed. As a second-generation Sarasotan, I know Sarasota’s communities inside and out and guide clients through every step of the buying or selling process. Call or text 941-284-0283 to discuss your real estate goals.