A Balanced Guide for Florida Homeowners Before the November 2026 Vote
FLORIDA VOTERS will soon decide on one of the most significant property tax proposals in state history, and it could directly affect homeowners across Brevard County.
The proposed constitutional amendment, officially titled “Save Our Homes from Excessive Property Taxes,” would gradually raise Florida’s non-school homestead exemption from $50,000 to as much as $250,000.
NOTE: Because the measure could continue to evolve before Election Day, this guide will be updated.
The goal here is simple: explain the proposal, so homeowners across Cocoa Beach, Cape Canaveral, Merritt Island, Viera, Satellite Beach, Melbourne, and the rest of Brevard County can make an informed decision.
This is intended as an educational resource, not an endorsement for or against the amendment.
The 30-Second Summary
Gov. Ron DeSantis called a special legislative session, and lawmakers passed HJR 1F, placing the amendment on the November 3, 2026, ballot.
Nothing changes unless voters approve it. Florida property taxes are unchanged today.
The non-school homestead exemption would rise from $50,000 to $150,000 in 2027, then to $250,000 in 2028, with inflation adjustments starting in 2029.
School district property taxes are unaffected and will continue as they are now.
Vacation homes, second homes, and investment properties generally would not qualify.
The amendment also lowers the annual assessment cap on non-homestead properties from 10% to 5%, starting in 2027.
It requires 60% voter approval to take effect.
What Has Actually Been Approved So Far
One of the biggest misconceptions is that Florida property taxes have already changed. That is not the case. The Legislature passed HJR 1F during a June 2026 special session called by Gov. DeSantis, placing the constitutional amendment before voters this November.
The expanded exemption itself does not become law unless Florida voters approve it.
Understanding Florida’s Homestead Exemption
Florida’s Homestead Exemption reduces the taxable value of a qualifying primary residence, which generally lowers property taxes. To qualify, homeowners must establish Florida residency and meet the state’s homestead requirements.
Homestead Exemption generally applies to primary, owner-occupied residences. It generally does not apply to vacation homes, rental properties, investment properties, or commercial real estate.
Current Law vs. the Proposed Amendment
Current Law
Proposed Amendment
Non-school homestead exemption: $50,000
Gradually increases to $250,000
School taxes apply as they do now
School taxes continue unchanged
10% annual assessment cap on non-homestead property
Cap reduced to 5% starting 2027
The current exemption structure remains
Inflation adjustments begin in 2029
If approved, the exemption would increase to approximately $150,000 in 2027 and to approximately $250,000 in 2028, with future increases adjusted for inflation.
Why Supporters Favor the Amendment
Supporters argue the proposal would provide meaningful relief for homeowners facing rising housing costs, including lower annual property tax bills, relief from rising insurance premiums, greater affordability for retirees on fixed incomes, and continued appeal for families relocating to Florida.
Concerns Raised by Opponents
Opponents agree that homeowners need relief, but question whether this is the right approach.
A legislative fiscal analysis estimated the change could reduce local government revenue by roughly $4.6 billion in the first year, growing to about $8.4 billion annually, with no funding mechanism to replace it.
Critics point to possible pressure on police, fire, parks, libraries, and infrastructure budgets, and the potential for costs to shift toward businesses, landlords, and investment properties.
What This Could Mean for Brevard County
This is where the proposal becomes especially relevant for Space Coast homeowners.
Residents in Cocoa Beach, Cape Canaveral, Merritt Island, Melbourne, Satellite Beach, Viera, Rockledge, Titusville, Palm Bay, and surrounding communities could see lower annual county and municipal property taxes on qualifying homesteaded properties if the amendment passes.
At the same time, Brevard County, local municipalities, and special taxing districts rely heavily on property tax revenue to fund public safety, road maintenance, parks, libraries, community facilities, and emergency services.
How local governments would respond to any reduction in revenue remains uncertain and would depend on future budgeting decisions.
Who Could Benefit
• Florida residents with Homestead Exemption
• Retirees on fixed incomes
• Families planning to stay in Florida long-term
•Homeowners whose property values have risen substantially
• Because every county sets its own millage rate, actual savings will vary from one homeowner to another.
Who May Not Benefit
• Vacation homes
• Rental properties
• Investment properties
• Commercial buildings
• Most second homes
Under the amendment, individuals who establish Florida residency after December 31, 2026, would generally need to wait five years before qualifying for the full expanded exemption.
Real-World Examples
A retired couple living full-time in a homesteaded home in Cocoa Beach could see lower annual property taxes if the amendment passes.
A family purchasing a primary residence in Viera may eventually qualify for the expanded exemption once they meet Florida’s homestead requirements.
Someone purchasing a vacation condo in Cape Canaveral would generally not qualify, since second homes are not eligible for a Homestead Exemption.
A Word on Local Budgets
HJR 1F also requires cities and counties that keep collecting property tax revenue under the amendment to prioritize spending on core services such as public safety and education.
Supporters say this gives taxpayers a clearer picture of how local budgets are built. Critics note it does not guarantee that overall funding stays adequate to meet local needs if revenue declines.
Frequently Asked Questions
Is this already the law?
No. Florida voters must approve the constitutional amendment in November, and it needs 60% approval to pass.
Does this eliminate school property taxes?
No. School district property taxes continue unchanged.
Will every homeowner receive a $250,000 exemption?
No. The exemption phases in gradually and applies only to qualifying homesteaded properties.
Will investors or second-home owners benefit?
Generally, no. Second homes and investment properties typically do not qualify for the Homestead Exemption.
How much could I save?
That depends on your home’s taxable value, your local millage rate, existing exemptions, and your county. Savings will vary considerably.
What We Still Don’t Know
How would local governments respond if tax revenue declines significantly? Would any reduction in services follow? Could alternative taxes or fees eventually offset lost revenue? These questions will likely continue to be debated leading up to the November election.
My Perspective
After more than 22 years helping buyers and sellers across Florida’s Space Coast, I have learned that understanding the full cost of homeownership matters just as much as understanding the purchase price. Property taxes, insurance, financing, and long-term affordability all play a role in every homeowner’s financial picture.
My goal here is simply to lay out the proposal in a factual, easy-to-understand way so Brevard County voters can make an informed decision this November. I will continue updating this guide as new information becomes available.
Bobby Freeman is a REALTOR and co-founder of McCoy Freeman Group at Compass, the RealTrends Verified #1 Mega Team in Florida, with more than $520 million in career closed sales across 1,500+ transactions and 22+ years of experience on Florida’s Space Coast. Bobby and his business partner, Nikki McCoy Freeman, specialize in waterfront, luxury, condo, and investment properties throughout Cocoa Beach, Cape Canaveral, Merritt Island, Viera, Satellite Beach, and Melbourne.
For monthly market reports and more Space Coast real estate resources, visit McCoyFreeman.com.
