What Florida voters approved in 2024

Florida voters approved Amendment 1 in November 2024, which raises the homestead property tax exemption from $50,000 to $75,000 for most homeowners. This is not an end to property tax — it is an increase in the amount of your home's value that the county cannot tax. If your home is worth $300,000 and you claim homestead exemption, the county taxes only the value above $75,000 (so $225,000) instead of above $50,000 (so $250,000). You still owe property tax on the remainder.

The amendment also created a new $500,000 exemption for homes owned by first-time homebuyers under age 35, though that portion has faced legal challenges and may not be in effect depending on when you read this. The main $75,000 exemption applies to existing homeowners who already claim homestead exemption and to new homeowners who register for it.

Key Takeaways

  • Amendment 1 raised the homestead exemption from $50,000 to $75,000, meaning your taxable home value drops by an additional $25,000, but property tax itself was not eliminated.
  • The exemption applies only to homes where you live as your primary residence and have registered for homestead status with your county assessor.
  • Your actual tax savings depend on your county's millage rate — a $25,000 exemption saves more in high-tax counties than in low-tax counties.
  • Non-homestead properties (rentals, investment homes, commercial property) receive no exemption under this amendment.
  • The amendment took effect January 1, 2025, but you must have homestead exemption already in place or file for it to benefit.

How the homestead exemption actually works

A homestead exemption is a reduction in the assessed value the county uses to calculate your tax bill, not a reduction in the tax rate itself. When you claim homestead exemption in Florida, the county subtracts the exemption amount from your home's appraised value before multiplying by the millage rate (the tax rate set by your county, school district, and other local bodies).

Before Amendment 1, that exemption was $50,000. A home appraised at $300,000 would have been taxed on $250,000. Now it is taxed on $225,000. The difference — $25,000 times your millage rate — is your annual savings. If your millage rate is 10 mills (0.01), you save $250 per year. If it is 15 mills, you save $375 per year. Millage rates vary widely by county and by which school district and special districts serve your address.

You do not automatically receive this exemption. You must file for homestead exemption with your county property appraiser's office. If you already have homestead exemption, the increase to $75,000 applies automatically starting with your 2025 tax bill — you do not need to reapply.

Who is may be able to access for the $75,000 exemption

To use the $75,000 homestead exemption, you must own the home, live in it as your primary residence, and have homestead exemption registered with your county assessor. If you rent your home out, own it as an investment, or own it through a corporation or trust, you do not may have access to. Mobile homes on land you own also may have access to if you meet the residency requirement.

If you own the home jointly with a spouse, both of you do not need to be on the deed — one owner can claim homestead exemption for the household. If you own it with someone who is not your spouse, only one of you can claim the exemption, and it applies to the whole property.

Homestead exemption is available to Florida residents regardless of age or income. There is no income limit, and you do not lose it if you earn more money. You do lose it if you move out of the home or sell it to someone else.

How to register for homestead exemption if you do not have it

Contact your county property appraiser's office — not the tax collector. The appraiser determines what your home is worth and what exemptions explore; the tax collector bills you based on that assessment. You can find your appraiser's office through your county government website or by searching "[your county] property appraiser."

You will need to bring or submit proof of ownership (deed or mortgage statement), proof of residency (utility bill, driver's license, or lease if you rent the land), and your Social Security number. Some counties allow you to file online through their website; others require you to visit in person or mail documents. Processing usually takes a few weeks, and the exemption applies to your next tax bill, not retroactively.

If you already have homestead exemption, you do not need to do anything. The $75,000 exemption replaces the $50,000 one automatically on your 2025 assessment.

What your actual tax savings will be

Your savings from the increased exemption depend entirely on your millage rate, which varies by location. A $25,000 exemption increase multiplied by a 10-mill rate saves $250 per year. The same exemption at a 15-mill rate saves $375 per year. Some Florida counties run 12 mills; others run 18 or higher.

To find your millage rate, contact your county tax collector or look it up on their website — it is public information. Multiply your millage rate (expressed as a decimal — 10 mills is 0.01) by $25,000 to see your annual savings. This is an estimate because millage rates can change year to year, and your home's appraised value may also change.

The exemption does not reduce your school taxes, county services taxes, or special district taxes — it reduces only the portion of your bill that goes to general county operations. School funding makes up the largest part of most property tax bills in Florida, so your total savings will be less than the exemption might suggest.

Why property tax was not eliminated

Property tax in Florida is a local revenue source controlled by counties, school districts, and special districts like water management and fire protection. The state legislature cannot straightforward end property tax statewide — doing so would require counties to find other ways to fund schools, roads, emergency services, and other local operations. Some counties would raise sales tax or other fees instead; others would cut services.

Amendment 1 was a homeowner relief measure, not a tax elimination. It reduced the tax burden on primary residences by increasing the exemption, but it left the tax system itself in place. Renters, investors, and business owners still pay property tax on their holdings, and counties still collect the revenue they need to operate.

Frequently Asked Questions

Do I have to do anything to get the $75,000 exemption if I already have homestead exemption?

No. If you already have homestead exemption registered, the increase from $50,000 to $75,000 applies automatically to your 2025 tax bill. You do not need to reapply or contact your appraiser.

Will the exemption reduce my school taxes?

No. The homestead exemption reduces only the assessed value used for county general operations. School taxes are calculated separately and are not reduced by homestead exemption. School funding makes up the largest part of most property tax bills in Florida.

What happens to the exemption if I sell my home?

The exemption ends when you sell. The new owner must file for homestead exemption in their own name if they want to claim it. If the new owner does not claim it, the property is taxed on its full assessed value.

Can I claim homestead exemption on a second home or rental property?

No. Homestead exemption applies only to your primary residence — the home where you live most of the year. Investment properties and second homes do not may have access to and are taxed on their full assessed value.

If I am a first-time homebuyer under 35, do I get the $500,000 exemption?

Amendment 1 created a $500,000 exemption for first-time homebuyers under 35, but this portion has faced legal challenges. Check with your county property appraiser to learn whether it is currently in effect in your area, as the status may change.