If you have looked at your escrow statement recently, you know the sinking feeling in your gut. Florida homeowners are currently trapped in a financial pincer move: insurance premiums are skyrocketing, and property tax assessments are catching up to inflated home values. While Tallahassee can’t control the hurricanes, they can control the tax code. Insider reports from the 2026 legislative session reveal that lawmakers are finally addressing the “Property Tax Elephant” in the room with four aggressive proposals. These aren’t just minor tweaks; they are potential structural overhauls designed to keep you in your home.
The “Zero-Tax” Plan (HJR 201)
This is the nuclear option that has everyone talking. Proposal HJR 201 aims to eliminate the “non-school” portion of property taxes entirely for primary residences. Currently, your tax bill is split: roughly half goes to schools, and the other half goes to the city, county, and special districts. This proposal would effectively wipe out that second half, potentially cutting your total tax bill by around half. For a homeowner paying $6,000 a year, that is a significant instant savings.
However, there is a catch. Local governments are fighting this tooth and nail. They claim that if this revenue vanishes, they will be forced to defund police departments, fire rescue, and libraries. To fill the gap, some economists warn this could lead to a massive hike in state sales tax—possibly pushing it to 12% or higher. It is a trade-off: lower property taxes for owners, but potentially higher daily costs for everyone.
The “Uncapped” Portability Fix (HJR 211)
Right now, if you are a long-time resident with a massive “Save Our Homes” benefit, you feel trapped. You want to downsize, but you know that moving means losing your low tax rate. HJR 211 proposes “uncapped portability.” Currently, you can only transfer up to $500,000 of your accumulated tax savings to a new home. In today’s market, that cap is often too low.
This proposal would remove that ceiling, allowing you to take your entire tax savings with you to a new property. This would finally unlock the market for empty nesters who are currently hoarding large family homes simply because they cannot afford the tax bill on a smaller condo.
Limits on Assessment Increases (HJR 213)
Instead of the anxiety of annual assessment hikes, this proposal introduces a stability mechanism. HJR 213 would freeze your property’s taxable value for three years at a time. This allows homeowners to plan their finances without the shock of a sudden jump in valuation after a neighborhood “hot streak.”
It works like a lease on your own taxes. You would know exactly what you owe for 36 months, removing the annual “Notice of Proposed Taxes” panic attack. It essentially slows down the gentrification tax curve, giving wages a chance to catch up to home values.
The Senior “Super Exemption” (HJR 205)
Florida has always favored retirees, but this proposal goes further than ever before. HJR 205 proposes an enhanced exemption specifically for long-term seniors, potentially zeroing out the non-school tax portion for those over 65 who have lived in their homes for decades. It is designed to prevent “gentrification eviction,” where fixed-income retirees are taxed out of paid-off homes because the neighborhood suddenly became trendy.
The “Renters’ Dilemma”
While these sound great for owners, there is a hidden cost. Critics warn that shifting the tax burden from property to sales tax (consumption) disproportionately hurts renters and tourists. If you don’t own a home, you get no benefit from the tax cut, yet you might pay significantly more for your groceries and clothes. Consequently, this could create a deeper economic divide in the state.
Watch the Ballot
These proposals are currently fighting for the 60% supermajority vote needed in the House and Senate to appear on the November 2026 ballot. Your bill might not drop today, but the mechanism to slash it is being built right now. The question is: who will pay the price?
Would you vote to kill property taxes if it meant paying a 12% sales tax on everything else? Tell us your stance in the comments.
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The post The “Property Tax Elephant”: 4 Florida Proposals That Could Slash Your Bill in 2026 appeared first on Budget and the Bees.
