The separate school-tax exemption stays in place. The annual assessment-increase cap for covered non-homestead property drops from 10% to 5%, excluding school taxes.
People without permanent Florida residence by Dec. 31, 2026, first get a smaller $50,000 non-school exemption. The expanded exemption becomes available in their fifth year of exemption.
What it means for the city
Plant City's tax rate is 5.7157 mills. The city tax on $100,000 of city-taxable value is about $572. One mill goes to street resurfacing and related maintenance.
The city's adopted budget for Fiscal Year 2026 - 2027 is $158,399,684. Property taxes bring in $30,850,000. That is 43.6% of General Fund revenue.
The city says $23,769,280 of that money is available for general operations. Police and Fire Rescue costs total about $36,470,000. Other revenues cover the $12,700,720 difference.
The city says a larger exemption at an unchanged tax rate lowers its property tax revenue. The city calls its estimates projections.