7 States Rolling Out Property Tax Breaks (Are You Eligible?)

Property taxes can be a significant burden for homeowners, but changes in some states are providing much-needed relief.

During the recent election, voters passed several measures intended to provide property tax relief. Whether it’s capping increases, expanding exemptions, or recognizing special circumstances for veterans, these measures reflect voters’ growing frustration with rising property tax bills.

From Florida to Wyoming, here are the states where new laws might make owning a home more affordable and allow more people to build wealth.

Arizona's Proposition 312 goes into effect during the 2025 tax year. It allows property owners to apply for tax refunds if their local government fails to enforce certain nuisance laws. Such laws include things like cracking down on panhandling.

The 58% of voters who approved the measure are trying to demonstrate the power of holding the government responsible for its actions — or inactions.

Colorado’s Amendment G broadens the scope of property tax exemptions for military veterans. Previously reserved for those with 100% permanent disabilities, the new law includes veterans who are unemployable due to service-related injuries.

Passing with 73% voter approval, the measure will go into effect in 2025.

Florida voters approved Amendment No. 5, which adjusts the state’s existing homestead exemption for inflation, ensuring that the tax break keeps pace with rising costs.

In essence, when inflation creeps higher, so will the exemption’s value. With around 66% of voters in favor, this change will go into effect in 2025.

Georgia’s Amendment 1 takes effect in 2025 and limits annual increases in property assessments. By tying assessments to inflation, the measure prevents sudden spikes in property taxes, offering homeowners more predictable costs.

Nearly two-thirds of voters — 63% — passed this safeguard, which is particularly valuable in areas experiencing rapid property value appreciation.

New Mexico passed two amendments aimed at reducing property taxes for veterans.

Amendment 1 extends tax exemptions to veterans with partial disabilities, while Amendment 2 increases the exemption for honorably discharged veterans from $4,000 to $10,000, with adjustments for inflation.

With 83% of voters supporting Amendment 1 and 72% of voters backing Amendment 2, New Mexico residents expressed a strong commitment to honoring veterans. Both amendments are now in effect.

Virginia voters overwhelmingly approved an amendment to Article X, which expands an existing property tax exemption for surviving spouses of soldiers who died in combat.

With the change, the exemption has been extended to those whose spouse died in the line of duty, even if the death did not occur during combat.

The measure gained 93% voter approval. It goes into effect in 2025 and is another reflection of a widespread appreciation for the sacrifices of military families.

Wyoming’s Amendment A creates a new category for “residential real property.” This means residential real estate will no longer be taxed in the same way as industrial real estate and other types of properties.

Supported by a majority of voters, the measure does not go into effect until 2026.

Across the U.S., rising property values have led to higher tax bills, even as wages remain stagnant in many regions. Homeowners are increasingly demanding relief to keep housing affordable, especially for vulnerable groups such as seniors and veterans.

These measures resonate with voters because they are money moves for homeowners that address such growing concerns.

From capping assessments to recognizing veterans’ sacrifices, these property tax reforms are paving the way for a system that will likely help more people to get ahead financially.

Even if your state is not on this list, it’s possible that the citizens of your state will soon demand property tax relief that will benefit you.