Florida Voters Approve Property-Tax Amendment Shifting Burden to Non-Residents
Florida voters passed a constitutional amendment by a 62-per-cent majority that increases homestead exemptions for residents while capping tax increases on non-homestead properties at 5 per cent. The measure shifts the property-tax burden to non-residents, particularly Canadian snowbirds who are the top group of foreign property owners in the state.
Florida voters have approved a sweeping state constitutional amendment by a 62-per-cent majority that provides property-tax relief to state residents and shifts more of the tax burden to non-residents who own second homes. Canadians consistently rank as the number-one group of foreign owners of property in Florida.
The new measure does not increase taxes for non-residents but cuts them out of the key homestead exemption, requiring them to pay full freight on the assessed value of their homes. For residents, the amendment increases the homestead exemption from US$50,000 to US$150,000 next year, and then to US$250,000 in 2028. Annual tax increases on properties ineligible for the homestead exemption will be capped at 5 per cent, rather than the current 10-per-cent limit.
The amendment also imposes a five-year residency requirement for anyone who is not a resident by Dec. 31 of this year before they can qualify for the larger homestead exemption. Governor-elect Byron Donalds has advocated for the measure and is expected to support it as he takes office and it moves to implementation on Jan. 1, 2027.
Outgoing governor Ron DeSantis stated at a real-estate convention in Orlando last year that he wants tourists subsidizing the state so Florida residents pay less taxes. This political development adds to existing economic pressures on Canadians visiting Florida, including rising insurance costs, high condo fees, and a weak Canadian dollar.
Canadian tourism to Florida dropped nearly 14 per cent in the first half of this year, with almost 1.7 million Canadians visiting compared to close to two million during the same period in 2025.