05/29/2026
NEW:
The Governor released his proposal for a $250,000 homestead exemption, leading to a complete elimination. He is calling the Legislature into session Monday, June 1, to press for his proposal.
FPI crunched the numbers on impacts locally for each county government and school district. (Cities not included at this time).
-The resolution’s $250,000 homestead exemption alone would cost school districts an average of at least $5 billion annually — the revenue loss would increase to $8.59 billion annually if lawmakers eliminate homestead property taxes by FY 2030-31.
-Additionally, under the resolution’s $250,000 homestead exemption, counties would lose an average of at least $4.8 billion annually, which could increase to $8.65 billion with full homestead elimination by FY 2030-31.
-In many rural fiscally constrained counties, due to the assessed value of properties, the cost of a $250,000 homestead exemption is close to the cost of full elimination.
-This analysis does not include fiscal impacts to cities or the proposal’s assessment cap changes, which would erode local funding further.
Check out the impacts in your county:
SJR 2-F would adversely impact counties, school districts, municipalities, and special districts.
