Taxes were on everyone’s mind during the election season, with 36% of voters rating them as “extremely important” and another 39% rating them “very important,” according to a Gallup poll.
These concerns reflected far past the presidential election. In several states, residents had the opportunity to vote on property tax legislation — and most of those ballot measures passed.
As a result, the following states have new or expanded property tax breaks that took effect in 2025.
Florida
The measure: Amendment No. 5
When it took effect: Jan. 1, 2025
Who supported it: Florida’s Amendment No. 5 passed with about 66% of voters in favor of it.
What it does: The measure establishes an annual inflation adjustment for the state’s pre-existing homestead exemption, which is a property tax break for primary homes. That means the value of the exemption will increase as inflation increases.
For more specifics, check out “Florida’s Property Tax Break for Homeowners Is More Valuable in 2025.”
Arizona
The measure: Proposition 312
When it took effect: The 2025 tax year
Who supported it: Arizona’s Proposition 312 was approved by about 58% of voters.
What it does: The measure allows property owners to apply for a refund of the property taxes they paid to their city or town — or to their county in the case of residents in unincorporated areas — if their local government failed to maintain and enforce certain public nuisance laws. These include laws against loitering and panhandling, for example.
Owners can apply for this refund once per tax year.
Colorado
The measure: Amendment G
When it took effect: The 2025 tax year
Who supported it: Amendment G passed with approval from nearly 73% of Colorado’s voters — far more than the 55% required for passage.
What it does: This measure expands the eligibility for disabled veterans seeking a property tax exemption.
Previously, veterans with a 100% permanent and total disability as a result of their service were eligible for a homestead exemption. But with the enactment of Amendment G, a veteran who isn’t permanently disabled — but is unemployable due to their disability — will be eligible for an exemption, too.
Georgia
The measure: Amendment 1
When it took effect: Jan. 1, 2025
Who supported it: About 63% of Georgia voters approved Amendment 1.
What it does: This amendment limits the rate by which home assessments can increase each year, preventing them from outpacing inflation.
Holding down assessment increases will in turn hold down property tax increases, as property taxes are based in part on the assessed value of a home.
New Mexico (Amendment 1)
The measure: Amendment 1
When it took effect: Upon approval by voters
Who supported it: A large majority — 83% — of New Mexico voters
What it does: Prior to Amendment 1, New Mexico offered a property tax exemption to 100%-disabled veterans and their widows and widowers. The amendment extends that exemption to veterans with varying levels of disability.
Now, all service-disabled veterans (or their widows or widowers) will receive a property tax exemption, even if they aren’t 100% disabled.
The amount of the exemption will be based on the severity of a veteran’s disability as determined by their federal disability rating. The rating is assigned by the U.S. Department of Veterans Affairs based on the extent to which a disability decreases a veteran’s overall health and ability to function.
New Mexico (Amendment 2)
The measure: Amendment 2
When it took effect: Upon approval by voters
Who supported it: 72% of New Mexico voters
What it does: Amendment 2 increases the value of the state’s pre-existing property tax exemption for honorably discharged veterans and their widows or widowers from $4,000 to $10,000. This dollar amount isn’t set in stone, either. It’ll be adjusted annually for inflation.
Virginia
The measure: Amendment to Article X
When it takes effect: Jan. 1, 2025
Who supported it: A whopping 93% of voters
What it does: Prior to the passage of this amendment, Virginia law granted a property tax exemption for the primary home of surviving spouses of soldiers who were killed in combat.
This amendment expands eligibility for that particular exemption to surviving spouses of all soldiers who died in the line of duty, not just those killed in action.
Wyoming
The measure: Amendment A
When it takes effect: Jan. 1, 2026
Who supported it: Roughly 150,000 voters supported the amendment, which constituted a majority of all votes cast on it.
What it does: Prior to Amendment A, Wyoming law did not recognize homes as a distinct type of property. As a result, they were assessed the same way as, say, industrial real estate and personal property.
The amendment creates a new class of property: “residential real property.” Technically, this change alone won’t result in lower property taxes for homeowners, but it paves the way for residential real estate to be taxed differently than other types of property.
Add a Comment