Map: Projected Revenue Loss for Florida School Districts and Counties Under Governor’s Property Tax Reform Proposal

Below, FPI offers a brief overview of SJR 2-F and an analysis of the revenue loss to school districts and counties associated with a $250,000 homestead exemption and a full elimination of property taxes on homesteads, alongside maps for county-specific revenue loss. This analysis does not include fiscal impacts to cities or the proposal’s assessment cap changes, which would erode local funding further. 

Ahead of Gov. Ron DeSantis’ special session on property taxes, the Senate announced and filed SJR 2-F (2026), reflective of the governor’s proposal, to create a $250,000 homestead exemption for primary residences and a pathway to full elimination of homestead property taxes. Under the proposed joint resolution, homeowners who are permanent residents by the end of 2026 would be eligible to receive a $150,000 homestead exemption in 2027, a $250,000 exemption in 2028, and full elimination thereafter based on a “uniform procedure for counties, municipalities, and school districts … to increase the amount … exempt from taxation … up to all remaining assessed valuation.” 

Joint resolutions are the only authorized method by which the Legislature may propose amendments to the state constitution. To pass, both chambers must approve the resolution by a three-fifths vote. If the Legislature passes SJR 2-F, the resolution would appear as a proposed amendment on the November 2026 ballot, where it would need 60 percent approval to become law. If the resolution passes, it would adversely impact counties, school districts, municipalities, and special districts like Children’s Services Councils and Hospital Districts. To offset the revenue loss, localities would have to increase taxes and fees and/or make budget cuts, effectively leading to a cost shift as Floridians either pay more for or lose vital public services.

Whereas lawmakers considered several options to eliminate property taxes for homesteads during the 2026 regular legislative session, SJR 2-F goes even further by targeting school districts alongside all other localities. 

  • The resolution’s $250,000 homestead exemption alone would cost school districts an average of $5 billion annually — the revenue loss would increase to $8.59 billion annually if lawmakers eliminate homestead property taxes by FY 2030-31. 
  • Additionally, under the resolution’s $250,000 homestead exemption, counties would lose an average of $4.8 billion annually, which could increase to $8.65 billion with full homestead elimination by FY 2030-31.
  • In many rural fiscally constrained counties, due to the assessed value of properties, the cost of a $250,000 homestead exemption is close to the cost of full elimination.

SJR 2-F would also command localities to use new property tax revenue only on state-defined allowable expenditures:  public safety and emergency services, education, financing for infrastructure, financing for natural resource projects, and the issuance of bonds to pay for these services, along with debt service payments for existing obligations and payment of retirement benefits for employees. While counties and cities already use a significant portion of their budget to pay for public safety, and schools pay for education, this mandate, alongside the phase-out of homestead property taxes, would effectively pin these services against all others excluded from the list (e.g., libraries, public parks, elections).

Lastly, the joint resolution mentions the creation of a trust fund “for the purpose of providing grants to assist in the implementation of the amendments.” It is unclear how the state will pay for local budget gaps, as state economists anticipate that if lawmakers carry on with the same budget and tax policy priorities, expenditures will outpace revenues — leading to a $1.5 billion deficit in FY 2027–28 and a $6.6 billion deficit in FY 2028–29. 

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