Will Florida's 2026 Property Tax Amendment Lower My Tax Bill If I Buy in Miami?

Not yet, and not automatically. Florida lawmakers placed a constitutional amendment on the November 2026 ballot that would raise the homestead exemption from $50,000 to $150,000 in 2027 and to $250,000 in 2028, but it needs 60% voter approval first and only applies to non-school property taxes. If you're buying in Miami this year, the bigger question isn't whether the amendment passes. It's when you establish Florida residency relative to the deadlines built into the law.

By Giovanni Altamiranda | June 19, 2026

If you've seen headlines about Florida "slashing" property taxes, you've probably got questions. Is this real? Does it apply to you? Should you rush your purchase to catch some kind of deadline?

Here's the actual picture, and what it means if you're house hunting in Coral Gables, Pinecrest, South Miami, Coconut Grove, Palmetto Bay, or Key Biscayne right now.

What the Amendment Actually Does

In a special legislative session, Florida lawmakers passed House Joint Resolution 1F by a 75 to 26 vote in the House and 30 to 9 in the Senate. That sends a constitutional amendment to voters on the November 2026 ballot.

If approved, here's the schedule:

• January 1, 2027: The homestead exemption rises from $50,000 to $150,000
• January 1, 2028: It rises again, to $250,000
• School district taxes are excluded. The exemption only reduces the non-school portion of your bill, which is typically the larger share but not the whole thing

This needs 60% approval from voters, a higher bar than a simple majority. It hasn't happened yet. As of today, your property tax bill is calculated under current law, not this proposal.

The Deadline That Actually Matters for Buyers

Here's the detail that gets buried in most of the coverage: the exemption increase isn't just about owning a home in Florida. It's tied to when you establish primary residency here.

Reporting on the amendment indicates that residents who establish primary Florida residency on or before December 31, 2026 are positioned to qualify for the expanded exemption on the standard phase-in schedule. Those who establish residency after that point may face a longer wait, reportedly around four years, before they qualify for the full $250,000 exemption.

If you're relocating to Miami and weighing whether to close in November versus February, that's not a small detail. It could shift your tax position by years, not months.

This is exactly the kind of question I walk relocating families through before they start touring properties. The residency timing rules interact with your closing date, your homestead filing, and your specific household situation in ways that are easy to get wrong if you're working from a headline instead of the actual statute.

What's Already True, Regardless of the Vote

Separate from the ballot measure, Florida's existing homestead exemption already increased for 2026. Under current law, tied to inflation, the standard exemption now sits at $51,411, up from $50,000.

A few things to keep in mind if you're buying this year:

• To receive homestead exemption for a tax year, the property must be your permanent Florida residence as of January 1 of that year, and the application is due by March 1 of that same year
• Homestead protection also caps future increases in your assessed value under Florida's Save Our Homes provision, which matters more the longer you stay
• The exemption applies to your primary residence only, not investment properties or second homes

None of this depends on the November vote. It's already the law, and it's worth factoring into your numbers regardless of what happens with the amendment.

What This Means If You're House Hunting Right Now

If your move to Miami is already in motion, the amendment shouldn't change your search. But it might change how you think about timing your close and your residency filing.

A few scenarios worth thinking through:

You're relocating from another state. The key date isn't your closing date — it's when you establish Florida residency. Your driver's license, voter registration, homestead filing, and the timing of your actual move all factor into that. A closing in November and a physical move in January could put you on the wrong side of the December 31, 2026 line for this exemption.

You're comparing neighborhoods on price. Coral Gables, Pinecrest, and South Miami carry different price points and different tax bases. The exemption math will look different depending on your purchase price and the property's assessed value, not just the headline percentage.

You're a cash buyer without a financing timeline driving your close date. Many buyers in this market are purchasing without a mortgage, which means your closing date is more flexible. That flexibility is worth using strategically here.

Your specific number depends on your purchase price, the property's assessed value, your household's residency history, and how the November vote actually goes. That's not something a generic calculator can answer accurately, and it's exactly where talking through your specific situation with someone who tracks this closely actually earns its keep.

Frequently Asked Questions

Has Florida's property tax amendment already passed?

No. It passed the legislature and will appear on the November 2026 ballot, where it needs 60% voter approval to take effect. If approved, the exemption increases would begin January 1, 2027, with a second increase January 1, 2028.

How much would my homestead exemption increase if the amendment passes?

The homestead exemption would rise from $50,000 to $150,000 in 2027, then to $250,000 in 2028. It applies only to non-school property taxes, so your school tax bill would stay the same.

Does the December 31 residency deadline apply to me if I'm buying a home this year?

It may. Reporting on the amendment suggests residents who establish primary Florida residency on or before December 31 are positioned to qualify for the expanded exemption on the standard schedule, while those who establish residency later may face a longer wait. If your timing is close to that line, it's worth reviewing your specific closing date and residency plan.

Is the current 2026 homestead exemption different from the amendment being voted on?

Yes. Florida's existing homestead exemption already rose to $51,411 for 2026 under current law, tied to inflation. That's separate from, and unrelated to, the ballot measure that could raise it further starting in 2027.

Do I need to do anything right now if I'm not sure how this affects me?

Not urgently, but it's worth understanding before you set your closing date. If you're weighing the timing of a move to Miami against this deadline, that's a conversation worth having before you're under contract, not after.

If you're thinking through how this affects your own timeline, I'm happy to walk you through it. No pitch, just a straight conversation. Schedule a free consultation at moveupmiami.com.

For a deeper look at what you'll actually pay at closing on a Miami purchase, including documentary stamp tax and the property tax reassessment that follows a sale, see Closing Costs in Miami for Buyers: What You'll Actually Pay.

About Giovanni Altamiranda
Giovanni Altamiranda is a Miami-native real estate advisor at LUXE Properties, a team that closes over $1 billion in annual sales volume, and a licensed loan officer with Columbus Capital. With 11 years of experience and designations including SRS, ABR, and RENE, Gio specializes in the southern Miami suburbs: Coral Gables, Coconut Grove, Pinecrest, South Miami, Palmetto Bay, Key Biscayne, and surrounding neighborhoods. He works exclusively with move-up buyers and relocating families and is recognized as a top agent on Zillow. Rather than pushing a transaction, Gio's approach is advisory, helping buyers and families work through the real tradeoffs so they can make the decision that's right for them, not just right now. Born and raised in Miami, he brings firsthand knowledge of the neighborhoods, commutes, and market dynamics that out-of-town agents can't replicate. His dual license as both advisor and loan officer means clients get a cleaner, faster transaction with no surprises at the closing table.

Giovanni Altamiranda, NMLS# LO52044, Licensed Mortgage Loan Officer, Columbus Capital. This is not a commitment to lend. Loans are subject to borrower and property qualifications. Rates and program guidelines subject to change without notice.

This content is for informational purposes only and does not constitute legal or financial advice. Consult a licensed professional for guidance specific to your situation.