The elimination of Florida’s property tax on homeowners could begin in 2027
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A major repeal of Florida’s property taxes may be coming sooner than residents, lawmakers and real estate experts previously thought.
Last week, the state House advanced an amended bill, HJR 203, that would have repealed the estate tax change effective Jan. 1. 2027.
“Florida’s success has been built on smart fiscal policy, economic opportunity and clear ownership. Major tax reform should strengthen those pillars, not weaken them,” OneWorld Properties President and CEO Peggy Olin told Fox News Digital.
“From where I live,” he continued, “working with consumers across the country and around the world, confidence in the long-term stability of the state is as important as any short-term savings. If Florida can deliver meaningful relief while maintaining strong infrastructure and services, it will continue to lead. And based on what I’ve seen over the past 25 years, that’s when Florida finds the right balance.”
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Backed by Gov. Ron DeSantis, the bill — originally proposed in October — works toward the state’s long-discussed “no tax” goal. The language of HJR 203 describes how residential areas will stop paying city and county property taxes entirely but still pay about 35% to 50% of their total school tax bill. So while property tax liabilities will not go to zero, they can be cut in half or more.
Aerial view of homes in Palm Beach Gardens, Florida, on Sunday, Jan. 11, 2026. (Getty Images)
The newly passed amendment eliminated the 10-year plan and instead provides a faster timeline for homeowners to see higher savings on their 2027 primary tax bill if 60% of voters approve it on the 2026 midterm ballot.
“I generally support the proposed tax break, as it is part of what has made Florida such a strong growth story over the last decade,” Olin argued. “Home defenses are at the core of the state’s identity, and giving full-time residents a breathing space is always attractive.”
“Infrastructure, public safety and services don’t disappear because a revenue line disappears. The intent is strong to protect homeowners, but the execution must be disciplined,” he added. “Florida’s competitive edge isn’t just low taxes; it’s quality of life. We must preserve both.”
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State economists have warned that the plan could dig a $14.8 billion hole every year for local governments, and critics worry that if cities lose billions in tax money, police or fire stations could lose workers.
However, a provision in the bill provides a public safety guarantee that cities will be legally required to fund police departments at the 2024-2025 funding levels even if they don’t have money from homeowners.
“Cities are very old when it comes to income. A gap of that size rarely goes unsolved,” Olin responded. “In fact, when subsidies disappear in one place, they often appear elsewhere, be it through fees, assessments, utilities or broader use taxes. So the question becomes whether homeowners are seeing true net relief or simply rescheduling costs.”
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Olin also answered whether eliminating taxes would cause home prices to rise if buyers were able to pay off larger mortgages, and whether there was a risk that these tax cuts would make it harder for the next generation of Floridians to buy a home.
“Real estate markets work well. If buyers suddenly have more purchasing power, prices can adjust, especially in supply-constrained areas like South Florida. But in my experience, real estate prices here are driven more by migration trends, global currency and limited inventory than a single tax adjustment,” he said.
“Buyers aren’t moving to Florida just because of property taxes. They’re coming for lifestyle, economic opportunity and overall tax predictability. That said, entry-level affordability is already soft. If the affordability comes in at higher prices, first-time buyers may feel pressured,” Olin pointed out, “which means the big conversation isn’t just housing development policy.”
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When it comes to who could benefit the most from HJR 203, Olin offered a bullish view of high-net-worth, prime Florida homeowners and the change impacting average buyers.
“In pure dollars, high-net-worth homeowners see significant savings because property taxes are proportional to property value. However, the emotional impact may be greater for retirees and middle-class families on stable or fixed incomes. For someone who bought years ago and saw their assessed value increase, the relief can feel meaningful — even if it’s not a huge dollar amount on the market.”
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