Florida Governor Ron DeSantis announced on May 27, 2026, that he is calling a special legislative session beginning June 1 to advance a constitutional amendment under the 'Save Our Homes from Excessive Property Taxes' plan. The proposal would immediately raise the homestead exemption from $50,000 to $250,000—eliminating property taxes for roughly 60% of homesteaded homes—and set a legislative schedule to expand it further to $500,000, ultimately phasing out taxes for up to 92% of primary residences. A state trust fund would compensate local governments for lost revenue while restricting remaining property tax collections to core functions like public safety, education, infrastructure, and natural resources. New residents after January 1, 2027, would face a five-year residency requirement before qualifying. Property tax collections have nearly doubled from $32 billion to $60 billion in seven years and are projected to hit $83 billion by 2032, according to the governor's office. DeSantis framed the move philosophically: 'Taxing something that you own repeatedly... is the worst way to do taxation,' arguing homeowners already pay upfront and should not face perpetual levies just to maintain ownership. This goes beyond typical tax cuts by challenging the foundational logic of recurring property taxation, potentially reshaping personal finances for millions in a state grappling with skyrocketing insurance premiums, high living costs, and an influx of newcomers that has driven up assessments. While Republican lawmakers like Sen. Ben Albritton have welcomed swift action, Democrats including House Leader Fentrice Driskell warn of 'devastating consequences' for county budgets, roads, schools, and parks, with some fearing shifts to higher sales taxes that disproportionately hit working families and small businesses. The Miami Herald notes the plan creates uncertainty for local bond ratings and finances, describing it as 'more of a plan to plan' than immediate policy; past similar measures have struggled to reach the 60% voter threshold needed for passage. If approved by the legislature and voters in November 2026, relief could reach homeowners' bills as early as 2027, delivering tangible monthly savings amid Florida's affordability crisis but forcing a deeper reckoning: does returning money to individuals strengthen the state, or does it erode the collective infrastructure that makes Florida livable? This heterodox approach could inspire other high-tax states but risks exposing tensions between individual property rights and communal funding obligations. Sources confirm broad homeowner relief is the centerpiece, yet implementation details on the trust fund and phase-out timeline remain to be legislated.