Today, Florida State Senator Blaise Ingoglia (R-Spring Hill) filed SJR 1016, a proposed amendment to the Florida State Constitution to revise homestead exemption property tax by increasing it to $75,000 of assessed valuation for all levies, including school district levies, with annual adjustments for inflation.
If approved, the amendment shall take effect January 1, 2027.
“Property taxes are skyrocketing and Floridians are demanding relief. The current homestead exemption doesn’t cut it anymore. That’s why I’m filing for a new $75,000 homestead exemption that will be adjusted for inflation every year. When your home value goes up, so does your exemption. If approved by the voters, it will be the largest property tax cut in the history of Florida at $2.6B,” Sen. Blaise Ingoglia said.
