Homeowners across Atlantic Beach and the wider First Coast have watched their property values climb since 2020, and the reason is straightforward. Cheap borrowing during the pandemic sent demand soaring and pushed prices up across the beaches, in many cases by half or more. Paychecks and the cost of living simply have not kept up.
Here is why that matters to your wallet. When the house down the street sels for far more than it would have a few years ago, that sale helps set the value your county uses to tax you. Your bill.
A homestead designationsoftens the blow through Florida’s Save Our Homes cap, which limits how much your assessed value can rise in a given year. Helpful as that is, the number still creeps higher annually.
This is where the November ballot comes in. House Joint Resolution 1-F, backed by the Governor Ron DeSantis would raise the homestead exemption on non-school property taxes from $50,000 to $150,000 in 2027 and to $250,000 in 2028, with adjustments for inflation after that. Put simply, the first $250,000 of your home’s value would be shielded from non-school taxes. For a more modestly priced home, that can erase the non-school portion of the bill.
On a higher-end property, it still removes a substantial figure from the taxable value every year. The amendment needs 60 percent voter approval. It applies only to primary residences, leaves out second homes and investment property, and does not affect school taxes.
Look at the bigger picture too. Florida keeps drawing buyers from higher-tax states like California, and a cheaper cost of ownership only speeds up moves people are already weighing. That kind of demand tends to build momentum in the market.
If you have held your home through these years, you are in a stronger position than you might realize. Now is the time to take advantage of it, and that starts with knowing your equity. We are glad to help you see it clearly. Fu l contact details are available at sextonandmock.com. This is not tax or legal advice. Please consult a qualified professional regarding your circumstances.
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