Florida voters will decide in November 2026 on a constitutional amendment proposing a larger homestead exemption—up to $250,000 for non-school property taxes by 2028—and a lower annual assessment cap (5%) for many non-homestead properties. The changes would take effect January 1, 2027, if approved. New residents after 2026 face a five-year wait for the full exemption. Current laws affecting tax administration took effect June 2026.