How much is the Florida homestead exemption in 2026?

Up to $51,411: $25,000 on all property taxes, plus $26,411 on non-school taxes for value between $50,000 and $75,000.

How much is homeowners insurance in Florida?

About $3,736 a year including wind on average in the admitted market (September 2026). It varies widely by address.

Florida retirement taxes in 2026: no income tax, homestead savings and veteran exemptions

Short answer

Florida has no state income tax, so Social Security, pensions, IRAs, 401(k)s and military retired pay are not taxed. Homeowners who live in their home get a homestead exemption of up to $51,411 in 2026, and the yearly rise in their home's taxable value is capped (2.7% for 2026). Veterans rated 100% permanent and total service-connected pay no property tax on their home. Homeowners insurance is the cost to plan for: the average admitted-market premium is about $3,736 a year including wind (September 2026).

Not tax advice. Rules change; confirm with the Florida Department of Revenue, your county property appraiser or a tax professional.

Florida at a glance (2026)

	Florida
State income tax	None
Social Security, pensions, IRA, 401(k)	Not taxed
Military retired pay and SBP	Not taxed
Homestead exemption	Up to $51,411 ($25,000 on all taxes + $26,411 on non-school taxes)
Assessment cap ("Save Our Homes")	2.7% for 2026
65+ local exemption	Up to $50,000 where the county or city adopted it; household income up to $38,686 (2026)
100% P&T disabled veteran	Full exemption on the homestead
10%+ disabled veteran	$5,000 exemption
Average property tax	About 0.78% of home value a year
Average homeowners insurance	About $3,736 a year including wind (admitted market, Sept 2026)

Income tax

None. Social Security, pensions, IRA and 401(k) withdrawals, military retired pay, the Survivor Benefit Plan and TSP aren't taxed. Source: U.S. Air Force, My Air Force Benefits, Florida page (2026).

Homestead exemption

If you own the home and it's your permanent residence on January 1:

$25,000 off assessed value for all property taxes, including school taxes.
A second exemption of $26,411 (2026) on assessed value between $50,000 and $75,000, for non-school taxes only. This amount now rises with inflation.

So the "up to $51,411" isn't $51,411 off the whole bill: the second part doesn't touch school taxes. Apply with Form DR-501 by March 1. Sources: Florida Department of Revenue, PT-113 (Aug 2025) and Additional Homestead Exemption Adjustment (Jan 2026).

Save Our Homes cap and portability

Once homesteaded, your home's assessed value can rise by no more than 3% or inflation, whichever is lower (2.7% for 2026). The cap resets when you buy a new home, but you can carry up to $500,000 of the built-up savings to a new Florida homestead if you claim it within three years (Form DR-501T by March 1). Sources: Florida Department of Revenue, Save Our Homes (Jan 2026) and PT-112.

Extra exemption for 65+ (local option)

Counties and cities may add up to $50,000 for homeowners 65+ with household income up to $38,686 (2026), or a full exemption for a home worth under $250,000 owned for at least 25 years. It applies only where your county or city adopted it, and never to school taxes. Source: Florida Department of Revenue, Additional Homestead Exemptions (Jan 2026).

Disabled veterans

100% permanent and total, service-connected: full exemption on the homestead. Requires an honorable discharge and Florida residency on January 1. Carries over to an unremarried surviving spouse.
10% or more disabled: an extra $5,000 exemption.
65 or older with a combat-related disability: a discount on the homestead tax equal to your disability percentage (Form DR-501DV by March 1).
Deployed service members: an exemption prorated by days deployed outside the continental U.S., Alaska and Hawaii.

Sources: Florida Statutes 196.081, 196.24, 196.082 (2026); Palm Beach County Property Appraiser, military exemptions.

Homeowners insurance

The average homeowners premium in Florida's admitted market is $3,736 a year including wind ($2,124 without wind), as of September 2026. That excludes Citizens and surplus-lines policies. For many retirees it's as big a line as property tax, so get a quote on a specific address before you buy. Source: Florida Office of Insurance Regulation, market overview (Sept 2026).

Common mistakes

Assuming $50,000 comes off the whole tax bill. The second exemption skips school taxes.
Counting on the 65+ exemption everywhere. It's local, income-tested and not offered in every county or city.
Forgetting the January 1 rule. You must be a permanent resident and own the home on January 1 to get that year's exemption.
Losing the Save Our Homes savings. Claim portability within three years of leaving your old homestead.
Treating the 65+ combat discount as any service-connected rating. It must be combat-related.

On the ballot: Amendment 3 (Nov 3, 2026)

Florida voters will decide on Amendment 3 on November 3, 2026. If it passes (it needs 60%), the non-school homestead exemption would rise to up to $150,000 from 2027 and up to $250,000 from 2028. The $25,000 school-tax exemption wouldn't change. Until then, the 2026 figures above apply. Source: Manatee County Property Appraiser, Amendment 3 FAQ (2026).

Moving here?

Retiring to Tampa: what your home sale leaves you, and the drive to Tampa General and the VA
Federal rules: Is military retirement taxable?

Chris Harris isn't licensed in Florida. He'll introduce you to a vetted licensed agent there. Ask Chris →

FAQ

Does Florida tax military retirement?: No. Florida has no income tax.
Does Florida tax Social Security or pensions?: No.
How much is the Florida homestead exemption in 2026?: Up to $51,411: $25,000 on all property taxes, plus $26,411 on non-school taxes for value between $50,000 and $75,000.
Do 100% disabled veterans pay property tax in Florida?: Veterans rated 100% permanent and total service-connected pay no property tax on their homestead.
How much is homeowners insurance in Florida?: About $3,736 a year including wind on average in the admitted market (September 2026). It varies widely by address.

Sources

Last reviewed October 21, 2026. Not tax advice.