• Passed Florida House on February 19, 2026 (80–30 vote)
• Awaiting action in the Florida Senate
• If approved, voters would decide in November 2026
• Requires 60% voter approval
• Earliest implementation: 2027 tax year

At this stage, it remains a proposal, not enacted law.

---

Would Florida Eliminate Property Taxes Entirely?

No.

The proposal applies only to non-school property taxes on homesteaded primary residences.

Florida property tax bills typically include:

• County government taxes
• Municipal or city taxes
• Special district assessments
• School board taxes

HJR 203 targets the non-school portion. School taxes would remain in place.

This is an important distinction for homeowners evaluating potential savings.

---

Why This Matters for Tampa Bay Real Estate

Property taxes directly impact:

• Annual carrying costs
• Monthly affordability calculations
• Buyer purchasing power
• Net seller proceeds
• Market demand elasticity

If non-school property taxes are reduced on primary homes, effective ownership costs decrease.

Lower carrying costs often support:

• Stronger buyer demand
• Higher qualifying loan amounts
• Increased competition in desirable neighborhoods

In markets like Downtown St. Petersburg, Snell Isle, Belleair Bluffs, Clearwater Beach, Treasure Island, and Madeira Beach, even modest shifts in affordability can influence pricing behavior.

However, property taxes fund essential local services. If billions in statewide revenue are reduced, municipalities may respond through:

• Adjusted millage rates
• Increased fees
• Special assessments
• Development cost restructuring

In real estate economics, cost structures rarely disappear. They redistribute.

---

The Bigger Picture: Development Fees Are Rising

While this proposal addresses property taxes, several Florida counties have already increased impact fees and mobility fees.

Higher development costs influence:

• New construction pricing
• Condo and waterfront supply pipelines
• Builder feasibility models
• Long-term inventory levels

In growth markets like Tampa Bay, housing affordability is shaped by both tax policy and development policy.

Watching one without the other is incomplete analysis.

---

Frequently Asked Questions

Is Florida eliminating property taxes on primary residences?

Not yet. The Florida House passed HJR 203, but it must pass the Senate and then receive 60% voter approval in November 2026.

Would this apply to second homes or investment properties?

No. The proposal applies only to primary residences with a homestead exemption.

Would school property taxes be eliminated?

No. School district taxes would remain.

When would this take effect?

If approved, the earliest implementation would be the 2027 tax year.

How could this impact home values in Tampa Bay?

Lower carrying costs can increase purchasing power, which may strengthen demand in competitive neighborhoods. However, local government funding adjustments could influence the broader cost structure of ownership.

---

Strategic Takeaway for Tampa Bay Homeowners

If you own a homesteaded primary residence in Pinellas County or the greater Tampa Bay region, this proposal could meaningfully affect long-term carrying costs.

But the more strategic question is this:

If non-school property tax revenue is reduced statewide, how will local governments rebalance funding?

Understanding that answer is critical for homeowners planning to:

• Sell in the next 1–3 years
• Downsize or relocate
• Hold long-term waterfront property
• Purchase a primary residence

Policy shifts influence markets gradually, then suddenly.

This is one to monitor closely through the 2026 legislative session and voter cycle.