Florida's 2026 Property Tax Ballot Measure: What Homeowners and Retirees in Sarasota, Manatee, and Charlotte Counties Should Know Before November

On November 3, 2026, Florida voters will decide on a proposed constitutional amendment that could significantly change how property taxes work in the state. The measure, known as CS/HJR 1F with the ballot title "Save Our Homes from Excessive Property Taxes," would raise the homestead exemption dramatically and make other changes to property tax law. It needs at least 60% voter approval to take effect.

If you own a home in Sarasota, Manatee, or Charlotte County, or if you are thinking about moving here, here is what the proposal actually says and how it could affect you.

How would the homestead exemption change under this proposal?

This is the centerpiece of the amendment. Currently, Florida homeowners receive a $50,000 homestead exemption that exempts that amount from most local property taxes (except school district taxes). The ballot measure proposes raising that exemption in two phases.

In 2027, the exemption would increase to $150,000 of assessed value exempt from all ad valorem taxes except school district taxes. Starting in 2028, the exemption would rise further to $250,000 — and from 2029 onward, that figure would be indexed to inflation. The benefit caps at $200,000 in added value regardless of home price, meaning a $1 million home gets the same dollar benefit as a $350,000 home. In practical terms, the benefit is proportionally largest for modest-value homes.

What does this mean for current homeowners in Sarasota, Manatee, and Charlotte Counties?

For long-term homeowners who already have homestead exemption and have accumulated Save Our Homes assessment cap savings, this amendment could produce meaningful savings. According to the Sarasota Herald Tribune, homeowners in Sarasota County could see savings ranging from a few hundred dollars to over $2,000 per year, depending on their assessed value.

School district taxes are not affected by this change, so tax bills will not drop to zero. But the reduction in non-school property taxes would be substantial for most homesteaded properties. In Charlotte County, where median home values are lower, the proportional impact could be even more significant for local homeowners.

Manatee County officials, including Commissioner George Kruse, have raised concerns about the amendment's structure, calling it difficult to adjust if unintended consequences arise since constitutional amendments cannot be easily modified once passed. Local governments across the region are evaluating what the revenue loss would mean for services.

How would this affect retirees relocating to Florida?

This is where the proposal gets more complicated for the people I work with most often. The amendment includes a five-year phase-in for new residents. Anyone who was not a Florida resident as of December 31, 2026 would receive only the existing $50,000 exemption for their first five years of homestead ownership. The full $250,000 exemption would not apply until year six.

For someone moving to Sarasota from out of state in 2027 to retire, this means their property tax savings ramp up slowly rather than taking effect immediately. The existing senior exemption (an additional $50,000 for low-income seniors 65 and older, with an income limit around $37,694 in 2026) remains in place separately.

Retirees who already own a Florida home and have accumulated Save Our Homes cap savings through years of ownership are in the strongest position. Their assessed value is already well below market value, and the larger exemption would apply on top of that reduced assessment base. For a deeper look at how the current homestead exemption and tax structure works for retirees, my guide to Florida tax benefits for retirees and downsizers breaks down the existing system.

What about the Save Our Homes cap and portability?

The Save Our Homes assessment cap, which limits annual homestead assessment increases to 3% or the rate of inflation (whichever is less), remains essentially unchanged. Portability — the ability to carry accumulated Save Our Homes savings to a new Florida home — also stays in place, though the maximum portable benefit would increase from $500,000 to match the new exemption structure.

For downsizers who are already Florida homeowners and plan to sell their current home and buy something smaller, this is good news. You can still transfer your tax savings to your next home, and the higher exemption adds to the benefit. If you are weighing whether to sell first or buy first when downsizing, my guide to selling first or buying first when downsizing in Florida helps work through the timing.

What does the non-homestead assessment cap change mean for investors and snowbirds?

Currently, non-homestead properties — rental homes, vacation homes, and commercial real estate — have their annual assessment increases capped at 10%. The ballot measure would reduce that cap to 5% starting in 2027. This affects property owners across Sarasota, Manatee, and Charlotte Counties who hold second homes or investment properties, providing them with more predictable cost growth.

What should buyers and sellers be thinking about right now?

If the amendment passes, the property tax landscape for Florida homeowners changes meaningfully. For buyers, the long-term savings potential becomes a stronger factor in the decision to buy versus rent. For sellers, the tax benefits of homestead ownership could become a more prominent selling point, especially for buyers who are already Florida residents.

For out-of-state buyers planning to relocate to Florida, the five-year phase-in means they will not see the full benefit immediately. That does not make buying a home in Sarasota, Bradenton, Punta Gorda, or Venice any less worthwhile — Florida still has no state income tax, and the existing homestead exemption still applies from year one — but it is worth factoring into your financial planning.

Regardless of how the vote turns out, understanding how property taxes work in Florida is essential for anyone buying or selling a home here. I have helped clients through every kind of Florida real estate transaction for more than 30 years, and I can help you understand how these changes would apply to your specific situation.

If you have questions about how property taxes affect your home search or sale in Sarasota, Manatee, or Charlotte County, I would be glad to talk through it. You can reach me at (941) 724-2587, and for more answers to common questions, see my Buying FAQ. Let's grab a coffee.