Florida property tax relief proposal could save homeowners billions

Florida homeowners could save billions with a proposed constitutional amendment offering a $150,000 homestead exemption on non-school property taxes in 2027, rising to $250,000 in 2028. Non-residents get a $50,000 exemption for five years before qualifying for the full amount. The amendment limits local tax use to core services, but concerns exist about potential sales tax hikes and cuts to local services to offset revenue loss. It needs 60% voter approval to pass.