Update: The property tax proposal that actually passed late last week doesn’t phase out the exemption. It goes into effect immediately on Jan. 1, 2027, so the hit for the City of Pensacola could be $8.9 million in 2027. The Pensacola City Council will discuss this today.
The Florida House has passed sweeping changes to property taxes that could dramatically reshape how local government is funded. The City of Pensacola has estimated $8.9 million loss in revenue over 10 years.
House Joint Resolution 203 proposes amending the Florida Constitution to phase out nearly all non-school property taxes on homestead properties over the next decade. If approved by 60 percent of voters in the November 2026 general election, the change would take effect January 1, 2027…