The July Question Everyone's Asking Me: "Did Florida Just Eliminate Property Taxes?"

Allison Day, REALTOR® | RE/MAX Town & Country Realty

Quick update. My phone has been busy this month, and it's not just about listings.

In early June, the Florida Legislature held a special session and passed a constitutional amendment that would dramatically expand the homestead property tax exemption. Within days, my inbox filled with some version of the same question: "Does this mean my property taxes are going away?"

Short answer: not yet, and not automatically. Let me walk you through what actually happened, what it could mean for your wallet, and how it fits into the mid-summer Central Florida market. Because July 2026 is shaping up to be one of the more interesting months I've seen in my twenty years of doing this.

What Actually Happened in Tallahassee

During the June 1–3 special session, lawmakers passed HJR 1F, the "Save Our Homes from Excessive Property Taxes" amendment. Here's the key part: nothing has changed on your tax bill. The measure now goes to Florida voters on the November 3, 2026 ballot, where it needs 60% approval to take effect.

If voters approve it, here's the framework:

• The homestead exemption for non-school property taxes would rise from $50,000 to $150,000 in 2027, then $250,000 in 2028, with inflation adjustments after that

• The exemption would not apply to school district taxes, which make up roughly 40% of a typical bill

• The annual assessment cap on non-homestead properties (rentals, vacation homes, commercial) would drop from 10% to 5%

• New Florida residents arriving after 2026 would start with a smaller exemption and phase into the full benefit over five years

If it passes, the savings for a homesteaded Seminole County homeowner could be meaningful. But "if" is doing a lot of work in that sentence. A 60% threshold is a high bar, and there will be a loud campaign on both sides between now and November.

So Should You Wait to Buy or Sell?

Here's my honest take: making a real estate decision based on a ballot measure that hasn't passed is a gamble I wouldn't recommend to a friend, and I won't recommend it to you.

Two things worth knowing, though:

For buyers: if the amendment passes, the expanded exemption applies to homesteaded properties. Buying and homesteading a home in Winter Springs, Oviedo, or anywhere in Central Florida before the changes take effect doesn't lock you out of the benefit. If anything, the five-year phase-in for new Florida residents makes establishing your homestead sooner rather than later worth a conversation.

For sellers: the amendment's proposed 5% assessment cap on non-homestead property has investors paying closer attention to Central Florida again. That's a demand signal worth watching if you own a rental or second property you've been thinking about selling.

Either way, your decision should rest on your life and your numbers, not a November headline. That's what I'm here for.

The Mid-Summer Market: What July Looks Like on the Ground

Now for the market itself. The word for summer 2026 is balance, and the data backs it up.

Prices are steady. The Orlando metro median sale price is sitting around $395,000, up about 2% year over year. That's not the runaway appreciation of a few years ago, and honestly, that's healthy. Steady beats frantic.

Buyers have breathing room. Median days on market is around 32 days, up from 22 a year ago. Roughly 22% of active listings have taken a price reduction, compared to about 15% last summer. Translation: buyers can actually schedule inspections, review disclosures, and negotiate without writing an offer from the parking lot.

But sellers aren't out of the game. The Orlando Regional REALTOR® Association reported that May sales activity picked up and well-priced listings spent less time on the market, with supply at about 4.3 months. A truly balanced market is six months, so we're still on the tighter side. Homes that are prepared, priced on real comps, and marketed professionally are selling. Homes priced on hope are sitting.

Rates are the wild card. The 30-year fixed rate climbed to the mid-6% range in June, the highest since last fall. On a $400,000 home, the difference between a 5.9% rate and a 6.5% rate is roughly $145 a month. If rates ease later this year, expect more buyers to jump back in, and expect the leverage to shift.

One More July Reality: Hurricane Season

We're deep into hurricane season, and this matters whether you're buying, selling, or staying put.

Selling this summer? Buyers and their insurers are looking hard at roof age, wind mitigation features, and insurance history. If your roof is newer or you've had a wind mitigation inspection done, put that documentation front and center. It can genuinely affect a buyer's insurance quote, and their insurance quote affects your sale.

Buying this summer? Get your insurance quote early in the process, not the week before closing. Insurance costs vary more between individual homes than most buyers expect, and it should be part of your total monthly budget from day one.

Staying put? July is a good month to review your policy, photograph your home's contents, and check that your wind mitigation report is current. Not glamorous. Very worth it.

The Bottom Line for July 2026

The property tax amendment is real, it's coming to your ballot in November, and it's worth understanding. But it hasn't changed anything yet, and the fundamentals of a smart move haven't changed either: know your numbers, know your neighborhood, and work with someone who has seen this market through every kind of cycle.

If you're wondering what your home is worth this summer, or what a purchase would actually look like with today's rates and today's inventory, let's connect. No pressure, no script. Just twenty years of Central Florida experience and a straight answer.

Let's make it happen.

Allison Day, REALTOR® | RE/MAX Town & Country Realty | 407-617-2881 | AllisonDayHomes.com

Equal Housing Opportunity. Allison Day is a licensed REALTOR® with RE/MAX Town & Country Realty serving Seminole County and Greater Orlando. Market statistics sourced from the Orlando Regional REALTOR® Association, Stellar MLS, and Freddie Mac, June 2026. This article is for informational purposes only and does not constitute tax or legal advice; consult a qualified tax professional regarding your individual situation.