A November 2026 ballot measure could lower the cost of staying in your Florida home. How it fits into the real math of aging in place — and what it doesn't change.
On June 2, 2026, the Florida Legislature placed a constitutional amendment on the November 2026 ballot. If at least 60% of voters approve it, the homestead exemption for non-school property taxes would rise from $50,000 today to $150,000 in 2027 and $250,000 in 2028.
For retirees on fixed incomes, property taxes are one of the largest unavoidable costs of staying in your home. This measure could shrink that cost substantially. Nothing changes until voters approve it, so today's rules apply to every decision you make this year.
Want the full legislative breakdown? Read our complete guide: Florida's $250,000 Homestead Exemption Explained.
For a working family, a lower property tax bill is welcome relief. For a retiree on Social Security and savings, it's something bigger: it changes the answer to "can I afford to stay?"
Many Florida homeowners 62+ own substantial equity but live on fixed monthly income. The pressure to leave rarely comes from a mortgage payment — it comes from the carrying costs that never stop: property taxes, homeowners insurance, and maintenance. Reduce the largest controllable line item, and the whole stay-versus-sell calculation shifts toward staying.
The amendment addresses one line of the ledger. A complete aging-in-place plan accounts for all five.
You don't have to wait for November to look at your bill. Florida law already allows counties and cities to grant an additional homestead exemption for homeowners 65 and older who meet limited household income requirements — on top of the standard exemption. Availability and amounts vary by county.
Here's a connection most coverage of the amendment misses: with a Home Equity Conversion Mortgage (HECM), the homeowner must stay current on property taxes, homeowners insurance, and maintenance to keep the loan in good standing. Those obligations don't go away.
A meaningful property tax reduction would make those ongoing obligations easier to sustain on a fixed income. It strengthens the foundation under any aging-in-place plan that uses home equity — whether that's a HECM line of credit for emergencies, monthly draws to supplement income, or a HECM for Purchase to right-size into a different Florida home.
Two honest cautions:
A HECM is a significant financial decision. It's FHA-insured, available to homeowners 62+ on a primary residence, and requires HUD-approved counseling before you apply — a protection we think is a good thing. You may qualify; an honest conversation will tell you whether it actually fits your plan.
| If you're planning to… | What the amendment means for you |
|---|---|
| Stay in your home long-term | Potentially the biggest winner. Lower carrying costs compound every year you stay. Build your plan on today's costs; treat relief as upside. |
| Sell and downsize in Florida | Your next homestead would get the same expanded exemption if approved. Lower carrying costs may also support buyer demand for your current home. |
| Sell and leave Florida | The amendment doesn't follow you. Worth weighing: Florida's combination of no state income tax and (potentially) minimal homestead property tax is hard to replicate elsewhere. |
| Help adult children buy nearby | The exemption applies to their homestead too if they make Florida their primary residence — a factor in family relocation conversations. |
Learn how your home equity can fund your retirement without selling or moving.
Start The 5-Step Stay Home Plan — Free →If voters approve it in November 2026, the non-school homestead exemption rises to $150,000 in 2027 and $250,000 in 2028. For retirees on fixed incomes, a smaller tax bill lowers the monthly cost of staying in the home — one of the biggest line items in the aging-in-place budget.
Yes. Florida law already allows counties and cities to offer an additional homestead exemption for homeowners 65+ who meet limited-income requirements. Amounts vary by county — ask your county property appraiser what you qualify for today.
Yes. A HECM borrower must stay current on property taxes, insurance, and maintenance to keep the loan in good standing. Lower taxes would make that easier — but the obligation never disappears, and school taxes continue either way.
Plan on current law. Nothing changes unless 60% of voters approve the amendment, and the first increase wouldn't arrive until January 1, 2027. Decisions about staying, selling, or using home equity should make sense under today's rules.
Not entirely. School district taxes are excluded and continue. But for homes valued at or below the exemption amount, the non-school portion could reach zero once fully phased in.
Bring your questions about property taxes, staying put, or using your home equity. Kelly and Ray Nadeau will walk you through your options in plain English — no pressure, no obligation.
Prefer to read first? Get the free Florida Reverse Mortgage Guide.
The complete HJR 1-F guide: timeline, qualifications, and the Central Florida impact.
How a HECM actually works — costs, obligations, and alternatives.
The free curriculum for staying in your Florida home on your terms.
Talk to the Nadeau Team about what your home is worth in today's market.
Kelly and Ray Nadeau help Florida homeowners 62+ understand their options — staying, selling, or using home equity — with straight answers and no pressure.
Call 321-321-9455 Or email [email protected]