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Property Tax on Homesteads:

9 Jun 2026 12:12 PM | Anonymous

Florida voters have a chance to lower homestead property taxes.


The Florida legislature voted to place the measure on the Nov 2026 ballot. If approved by at least 60% of voters, the measure would increase homestead exemptions for those who own primary residences in Florida to $150,000 in 2027 and $250,000 in 2028, and tie further increases in the exemption to the Consumer Price Index. School taxes would stay at the $25,000 exemption.





Elected officials always find reason to increase taxes, year after year. Property taxes in Islamorada are up 58% since 2020, with no increase in population.  


The homestead tax reduction plan limits local governments to using property tax  for “core services” such as public safety, education, administrative costs and infrastructure.

The proposal also impacts non-homestead properties, like businesses, rentals, vacation homes. Right now, the taxable value of those properties can rise by as much as 10 percent a year. The amendment would cut that in half.

Potential Impact in Islamorada: Though work on the 2026-2027 budget is underway in Islamorada, the June Council agenda has nothing related to the impact of the homestead tax reduction on Village’s future budgets, if the referendum is passed.  


Islamorada has 1820 homesteaded dwellings that will be affected, a very small percentage of all real estate parcels in the Village.  With high appraised values, even the homesteads will continue to pay significant property tax in the early years. And will not have the school exemption increased.


Wouldn’t it be smart to start consider reducing some taxes now, just in case? Monroe County made significant cuts in their budget approved in September 2025, anticipating the need to make future cuts.
 



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Islamorada Community Alliance

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