Florida Property Tax Increase 2025. Amendment 5 would reduce future property tax revenues for local governments in florida by an estimated $22.8 million in 2025, which would grow to about $112 million by 2028. Florida homeowners have seen their property tax bills balloon close to 60% within five.
A lower assessed value, means lower property taxes for homeownersโ primary residences. As property values have increased dramatically in florida, the state legislature proposed this amendment to adjust the homestead exemption amount, currently $50,000 on.