Are Property Taxes Going Away in Florida?

Florida property tax reform is a meaningful planning issue, but it is far from a done deal as there is currently no consensus plan from the Legislature to be put before voters in the upcoming November 2026 elections. Previous proposals have focused primarily on reducing — and in some versions ultimately eliminating — the non-school portion of property taxes on homesteaded primary residences as opposed to a sudden statewide elimination of all property taxes.

What Homeowners Should Know

The political “sausage” has yet to be made as the House and Senate have not agreed on a single approach while an upcoming special session is expected to be dominated with redistricting, AI rules, vaccine policy, and budget negotiations, which is why property tax legislation may not get real traction until late May at the earliest. In the context of financial planning, that means households should plan for continued property tax payments and not assume that a ballot measure is guaranteed to appear during November’s elections.

Who Benefits — and Who May Not

The biggest winners would likely be homeowners living in homesteaded primary residences, especially retirees living on fixed incomes. Residents in high-tax counties would also stand to benefit, particularly those living in high-tax places like Miami-Dade, Broward, Hillsborough, Orange and Pinellas counties. By contrast, owners of second homes, investment properties, and commercial real estate, may see little or no relief.

Timing is another important consideration. Even where the Florida House has advanced proposals, Senate support and voter approval remain separate hurdles. The final structure could look very different from early headlines.

Financial Planning Implications

If you own a Florida home, now is a good time to review your homestead status, along with your insurance coverage, titling, and whether your home still fits your broader financial plan going forward. Homeowners should avoid making any decisions based on the assumption that property taxes will definitely be reduced or eliminated entirely, although there is still time for a proposal to pass before November’s election.  Making any decisions based on an assumption of zero property taxes would be premature, but ignoring the issue altogether could leave households unprepared.

From a financial planning perspective, the key question is not whether property taxes vanish, but how a changing tax structure may affect future housing decisions, liquidity, and cash flow. Lower taxes could improve monthly affordability for fixed-income retirees, while also influencing where homeowner’s ultimately buy, hold, or sell property. At the same time, changes to the tax structure could influence home values, neighborhood turnover, and the overall appeal of Florida real estate to investors and seasonal residents. These are not purely real estate questions. They intersect with retirement income planning, planning a move, and other considerations as part of an overall financial plan.

For higher-net-worth households, coordination matters even more. Property tax policy interacts with capital gains planning, trust and titling decisions, and retirement distributions. A well-structured plan looks at whether the household benefits more from holding a Florida homestead longer, reallocating capital elsewhere, or using potential tax savings to strengthen reserves or diversify investments.

Planning Takeaway

Property taxes are not going away in Florida (at least not in the near term), but the state is actively considering meaningful reductions, particularly for homesteaded primary residences. For wealth management clients, this represents a planning moment.

Reviewing residency status, confirming homestead eligibility, stress-testing retirement cash flow, and coordinating any real estate decisions with a broader financial strategy are all prudent steps. The more useful question is not, “Will property taxes disappear?” but rather, “How would I position my household if Florida meaningfully changes its tax rules?”

That framing is where thoughtful wealth management can add value.

If you are evaluating how potential changes to Florida property taxes could affect your financial plan, we can help. Connect with us to discuss how evolving tax policy fits into your overall wealth strategy.