With just a few weeks left remaining in the 2026 Florida Legislative Session, bills dealing with property taxes are moving, but most legislative proposals may have to wait till next year.
So far, here is what has happened over the last week.
The Florida State House passed a proposed constitutional amendment for the November 2026 ballot that would eliminate all non-school property taxes on homestead properties.
If the bill in its present form makes it on this year’s state ballot and is approved by voters, it would immediately reduce tax revenue for local governments starting in 2027.
Florida TaxWatch says taxpayers will save, and local governments will lose, $14.7 billion, by far the largest tax cut in Florida’s history. Currently, the Florida State Senate does not have a filed property tax proposal.
“In a press release, TaxWatch said the tax cut will increase the multi-billion-dollar tax shift from homestead properties to renters, businesses, and first-time homebuyers that our property tax system already creates. There are also equity concerns for local governments; the degree to which they rely on property taxes to fund services varies considerably.
“We support significant property tax relief, but we have concerns about this proposal’s impact on taxpayer equity,” the group said.
Other tax proposals passing the Florida House include HB 103 to repeal local business taxes, worth $200 million.
The Senate passed SB 434 to prohibit increasing the assessed value of residential property based on improvements made to enhance wind resistance.
HB 5501 would divert $60 million in documentary stamp taxes from general revenue to fund Florida Rail Enterprise projects.
HB 1035 promotes the use of green infrastructure and nature-based solutions to resiliency.
HB 1177 aims to boost Space Florida. The bill passed its second committee; however, a sales tax exemption and a property tax exemption were removed from the committee substitute.
Other items the state legislature will be addressing are funding for public education, Everglades restoration and water quality, state employee pay raises, the Florida State Guard, the Governor’s Job Growth Grant Fund, and the transfer of USF Manatee-Sarasota Campus to New College.
