A property tax battle that has swept across much of the country over the past two years is set to come to a head in the November midterms, with millions of voters across the country set to vote on major relief proposals. Since the pandemic, when historically low borrowing costs triggered a homebuying frenzy that clashed with a chronic lack of inventory across the country, home values have soared by the double digits—and property tax bills have followed suit. Between 2019 and 2024, property taxes in the U.S. jumped by nearly 30 percent, according to data from real estate brokerage Redfin, reaching a monthly median of $250.
For many homeowners across the country, this additional pressure has come on top of record-high mortgage rates and other rising housing costs, including home insurance premiums and homeowner association (HOA) fees, contributing to squeezing their budgets beyond affordability. The political debate around higher property taxes has focused in particular on their impact on seniors on fixed income, especially in states like Florida, which has a high share of elderly population and has seen massive home price hikes since the pandemic. After a year of intense debating over what the state should do—whether to eliminate property taxes completely or just reduce them—lawmakers in the Sunshine State have come up with a proposal that would be put to voters in November.
Here, and in five other states, voters will decide in November whether they are willing to pay lower property taxes, according to a list compiled by the Tax Foundation, even as experts warn that doing so would leave local governments scrambling for funding public services. Florida voters are set to decide in November, through a “yes/no” question, whether they support a constitutional amendment, known as Amendment 3, which would increase the nonschool homestead tax exemption from $50,000 to $150,000 in 2027 and up to $250,000 by 2028. Beginning in 2029, the homestead exemption amount would be indexed to inflation.
The amendment would also limit local spending to “core services,” such as public safety, public education, infrastructure and natural resource management. Following Governor Ron DeSantis’ intention for the legislation to put long-term Floridians first, the measure would exclude new owners who purchase a primary residence in the state after January 1, 2027, making them eligible for the increased homestead exemption only after five years of residency. If approved by at least 60 percent of voters, it will take effect on January 1, 2027.
Louisiana currently freezes the assessed value of homes for homeowners with incomes of $100,000 or less. On November 3, voters will be asked if they want to raise this income limit to $150,000 through Amendment 9. As in Florida, the proposal poses a “yes/no” question to voters.
The last time Louisiana voters approved an increase in the income limit for the special property tax assessment was in 2020 with Amendment 6, which brought up the income limit from $50,000 to $100,000. Another amendment on the ballot in November, Amendment 6, would authorize a property tax exemption up to $30,000 of assessed property value, increasing with homeowner’s age, from taxation for homeowners 65 and older who already qualify for the income-based assessment freeze. Amendment 1 would allow the surviving spouse of a disabled veteran to transfer the homestead property tax exemption one time to a new homestead.
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