Florida homeowners have not yet received broad property tax relief in 2026, but several proposals are moving through Tallahassee that could reach the November 2026 ballot.
HJR 203, which would phase out non-school homestead property taxes over ten years, passed the Florida House 80–30 on February 19, 2026, then died in Senate Appropriations when the regular session ended March 13. Governor DeSantis called a special session for the week of April 20, where property tax reform may be added to the agenda.
On the insurance side, Citizens Property Insurance policyholders are seeing premium reductions at Spring 2026 renewals, with South Florida counties averaging cuts of 11–14%.
Why every Florida homeowner is watching Tallahassee this spring
If you've opened your latest insurance renewal or looked ahead to your August TRIM notice — the Truth in Millage notice your county mails each summer — you already know why this debate feels personal. Florida homeowners have been squeezed on two sides: property taxes keep climbing even with the Save Our Homes cap, and homeowners insurance has pushed some residents out of South Florida entirely.
Three forces are in play right now. Property tax proposals are being negotiated for the November 2026 ballot, with one bill already through the House. The Florida Office of Insurance Regulation has begun rolling out Spring 2026 premium reductions for Citizens Property Insurance customers. And homeowners are trying to figure out what any of this means for their monthly payment.
This guide walks through what has actually changed, what is still a proposal, and the connection most coverage misses: how any of it reaches your wallet.
Quick Start: pick your path before reading further
Depending on where you sit, one section below matters more.
What actually changed in 2026 — and what's still a proposal
Already in effect
Florida's existing homestead exemption framework is unchanged. A qualifying homeowner can exempt up to $51,411 of assessed value in 2026 — the original $25,000 on all taxes, plus an additional $26,411 (CPI-adjusted under Amendment 5, which voters approved in November 2024) applied to non-school taxes on assessed value between $50,000 and $75,000. The Save Our Homes cap continues to limit annual assessed-value increases on homesteaded property to 3% or CPI, whichever is lower — 2.7% for 2026. Typical homestead savings run $400 to $1,100 per year, depending on county millage rates.
Still pending
HJR 203, the only 2026 proposal to receive a floor vote, passed the Florida House 80–30 on February 19, 2026. It would have phased out the non-school portion of homestead taxes by adding $100,000 per year to the exemption for ten years, with full elimination by 2037. The Senate never took it up; the regular session ended March 13 without a hearing. Governor DeSantis called a special session for the week of April 20 to address the state budget and, potentially, property tax reform.
Six other House joint resolutions (HJR 201, 205, 207, 209, 211, 213) stalled in committee, each targeting a different slice of homeowners. If any proposal reaches the ballot and wins 60% voter approval in November 2026, the earliest effective date is the 2027 tax year.
The 2026 ballot proposals, side by side
Voters may see one or more constitutional amendments on the November 2026 ballot. Florida requires 60% voter approval for any amendment, and 60% supermajority in both legislative chambers to place a measure on the ballot.
| Proposal | Who it helps | How it works | Status (Apr 2026) | Est. annual savings* |
|---|---|---|---|---|
| HJR 201 | All homesteaded owners | Eliminates non-school homestead property taxes immediately | Stalled in committee | ~$6,000+ |
| HJR 203 | All homesteaded owners (phased) | Adds $100K/year to exemption for 10 years; full phase-out by 2037 | Passed House 80–30, died in Senate | ~$600 Yr 1 → $6,000+ Yr 10 |
| HJR 205 | Homeowners age 65+ | Exempts seniors from all non-school homestead property taxes | Stalled in committee | ~$6,000+ (seniors only) |
| HJR 207 | New buyers & underwater homesteaders | New exemption equal to 25% of remaining assessed value after existing exemptions | Did not advance from State Affairs | ~$1,500 |
| HJR 209 | Homeowners carrying multiperil insurance | Additional $100K homestead exemption (non-school) if insured | Cleared committees, never reached floor | ~$2,000 |
Each proposal helps a different group. HJR 201 delivers the largest cut but creates the largest revenue hole for local governments. HJR 203's phased approach was the compromise the House passed but the Senate rejected. HJR 205 focuses on seniors; HJR 209 ties tax relief to carrying homeowners insurance, bundling the two biggest affordability issues together.
Recent polling shows support above 50% but short of the 60% threshold, and campaigns on both sides are expected to spend heavily before Election Day.
How property tax and insurance actually reach your mortgage payment
Once a year, your servicer runs an escrow analysis — the reconciliation that checks whether the amount collected matches what was actually paid. That analysis is what turns a tax cut or insurance reduction into a smaller monthly payment, or a refund.
Three scenarios worth understanding:
Your property tax bill drops. If a 2026 amendment passes and takes effect for the 2027 tax year, your county bill would typically fall. At your next escrow analysis, the escrow portion of your payment drops and your servicer may issue a refund.
Your homeowners insurance renews at a lower premium. Citizens policyholders are already seeing this at Spring 2026 renewals. Same outcome: smaller escrow deposit, lower payment.
Your taxes or insurance go up. This is what most Florida homeowners have experienced. If the annual analysis shows a shortfall, your servicer spreads it over the next 12 months — which is why monthly payments jump even on fixed-rate loans. If rising premiums caught you by surprise, read Florida home insurance in 2026: how to avoid a mortgage payment surprise.
Six steps Florida homeowners can take right now
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1
Confirm your homestead exemption is on file with your county property appraiser. Verify online.
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2
Pull your most recent escrow analysis from your mortgage servicer and identify the tax and insurance line items.
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3
Review your 2026 TRIM notice when it arrives in August You have 25 days to challenge the assessed value with your county Value Adjustment Board.
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4
If you have a Citizens policy, watch your Spring 2026 renewal Statewide average reductions are 8.7%, but individual outcomes vary.
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5
If your payment has jumped due to an escrow shortfall, run the refinance math The decision is driven by your current rate, balance, and closing costs — not a speculative tax cut. To talk through the numbers, talk to a Florida-based loan originator.
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6
If you're buying in 2026, get a pre-approval that reflects current tax and insurance costs A realistic pre-approval is the best protection against a closing-table surprise.
Should you wait out the ballot vote before buying or refinancing?
The short answer: usually no. Even if a 2026 amendment passes, the earliest impact is the 2027 tax year — and relief would apply regardless of when you bought or refinanced. Buying in 2026 does not lock you out of future savings.
For most buyers and homeowners, the decision comes down to three things that have nothing to do with a November ballot measure: the current rate environment, your personal timeline, and total closing costs. Those factors typically matter far more than a speculative tax cut.
If you're watching rates, current Florida mortgage rates are updated regularly on our rate page.
Six mistakes Florida homeowners are making right now
- Budgeting as if tax elimination has already passed. Nothing has been approved by voters. Savings are speculative until the Legislature places an amendment on the ballot and 60% of voters approve it.
- Missing the March 2, 2026 homestead exemption filing deadline. One missed filing can cost $400 to $1,100 in annual savings, plus the compounding benefit of the Save Our Homes cap.
- Ignoring the annual escrow analysis. This is the document that shows whether your monthly payment is about to change.
- Assuming the Citizens rate cut applies to every Florida carrier. Spring 2026 reductions apply to Citizens policyholders specifically; private carriers vary.
- Skipping the TRIM notice review window. Missing the 25-day window means accepting the assessment for the year.
- Refinancing only to chase a speculative tax cut. Refinance math is driven by rate, term, and closing costs — not by a ballot outcome.
For more common pitfalls, see more costly tax mistakes to avoid.
Frequently asked questions about Florida property tax and insurance relief
What property tax relief are Florida homeowners getting in 2026?
Did HJR 203 pass in Florida?
How much can Florida homeowners save under the 2026 property tax proposals?
When will Florida vote on eliminating property taxes?
Are Florida homeowners insurance rates going down in 2026?
How does Florida property tax relief affect my mortgage payment?
What is the Florida homestead exemption and how much is it worth in 2026?
Should I refinance my Florida mortgage before property tax changes take effect?
The bottom line for Florida homeowners in 2026
Meaningful property tax relief is possible this year — but not yet locked in. The House moved; the Senate did not; the next chapter will be written in the April special session and, if a proposal reaches the ballot, at the polls in November. In the meantime, the insurance side is already delivering measurable reductions for Citizens policyholders, and the homestead exemption continues to do its job.
The right move for your situation depends on your mortgage terms, your equity, your timeline, and current rates — not on a ballot outcome.
Thinking about refinancing or buying in Florida?
A ten-minute conversation with a Florida-based Pegasus loan originator can clarify what the 2026 tax and insurance landscape means for your specific mortgage math — no pressure, no obligation.
Talk to a Pegasus loan originatorAbout the author
Pegasus Lending Team
Mortgage Professionals · Pegasus Mortgage Lending (USA) · Miami, Florida
The Pegasus Mortgage Lending USA team is based in Miami, Florida, and specializes in helping homebuyers, investors, and foreign nationals navigate the Florida real estate market. With expertise spanning FHA loans, conventional mortgages, jumbo financing, VA loans, and Foreign National programs, the team guides clients through every step of the mortgage process with clarity and transparency.
Meet the Pegasus USA Team →Sources & References
- HJR 203 (2026) bill text and status — The Florida Senate — flsenate.gov/Session/Bill/2026/203
- HJR 203 committee analysis — Florida House of Representatives — flsenate.gov/Session/Bill/2026/203/Analyses/h0203c.SAC.PDF
- Florida 2026 Legislative Final Report — Florida Realtors — floridarealtors.org/advocacy/2026-legislative-final-report
- Homestead Exemption and Save Our Homes cap — Florida Department of Revenue — floridarevenue.com/property/Pages/Taxpayers_Exemptions.aspx
- 2025 additional homestead exemption CPI adjustment — Florida Department of Revenue — floridarevenue.com/property/Documents/2025_cpi_homestead_exemption.pdf
- Amendment 5 annual inflation adjustment — Alachua County Property Appraiser — acpafl.org/amendment-5-press-release
- Spring 2026 Citizens Property Insurance rate reductions — Florida Office of Insurance Regulation — floir.gov/newsroom/archives/item-details/2026/01/13
- Escrow accounts and annual escrow analysis — Consumer Financial Protection Bureau — consumerfinance.gov/ask-cfpb/what-is-an-escrow-or-impound-account-en-140
- 2026 property tax reform bill summaries — Florida Policy Institute — floridapolicy.org/posts/bill-summary-hjr-201-203-205-207-209-211-and-213
- Session end outcome and special session setup — WFLX / Scripps — wflx.com/2026/03/13/florida-lawmakers-end-session-without-budget-or-property-tax-deal