The 2026 Florida legislative session ended on March 13th, but legislators will return to Tallahassee in April to address the state budget and the annual tax package. Changes to the state’s property tax system will be a major debate at the Capitol.
Major cuts, even total elimination of homestead property taxes, are under consideration by lawmakers. The concern is that broad property tax cuts would cause county governments to jack up commercial property tax rates.
The idea in circulation is to tighten the property valuation increase cap. The current law limits commercial property tax valuations to no more than 10% per year. The plan being considered would limit commercial property valuation increases to no more than 15% every three years.