10/09/2026
Florida Renters Could Face Higher Costs
Florida is considering a homestead exemption expansion that could bring significant shifts to our local real estate landscape, particularly for renters and property investors. Under the current proposal, primary residences would see increased exemptions, while the assessed-value growth caps for non-homestead properties—including rentals—would be lowered. Projections suggest the average apartment could see property taxes rise by about $400 annually by 2028, and single-family rental homes may face increases of roughly $1,100, driven by offsetting local tax rates. That translates to an estimated 14% increase in overall tax burden on Florida residential rentals over the next few years, with the non-school portion potentially rising by 23%.
This could directly impact both housing affordability and the viability of new rental and affordable housing projects, as landlords may pass along a significant portion of these costs through higher rents. As we approach the November 3, 2026 vote—where approval would require close to 60% support and take effect January 1, 2027—it's crucial for residents, investors, and advocates alike to understand the local implications. My commitment to staying ahead of policy changes allows me to guide clients and colleagues with perspective rooted in both advocacy and day-to-day market realities, especially throughout Northeast Florida's dynamic property market.
