State retirement tax · Florida
Retirement tax rules for Florida residents (2026 guide)
Florida has no personal income tax, so your Social Security, pension, IRA withdrawals and Roth conversions are never taxed by the state. For a Florida retiree the tax questions are about the house: the homestead exemption, the Save Our Homes cap, and a property-tax amendment on the November 3, 2026 ballot.
By Mindaugas Laucius · Last reviewed October 21, 2026
Rate on retirement income
0%
Taxes Social Security?
No
Approx. tax on $90k retirement income
$0
Pension carve-outs
Standard
Quick figures: a single filer with $90,000 of income, $30,000 of it Social Security.
Income: nothing to file
There is no Florida individual income tax return. Social Security, pensions (public, private and military), 401(k) and IRA distributions, annuities and investment income all go untaxed by the state, and Florida has no estate or inheritance tax. Your federal return is the only income-tax return you file.
The homestead exemption and Save Our Homes
If the home is your permanent residence on January 1, you can claim the homestead exemption with your county property appraiser. It removes the first $25,000 of assessed value from all property taxes and a second $25,000 — on value above $50,000 — from non-school taxes. Since 2025 that second $25,000 is adjusted for inflation each year (Amendment 5, approved in 2024).
Once homesteaded, Save Our Homes caps the yearly rise in your assessed value at 3% or the change in the Consumer Price Index, whichever is lower, no matter how fast market values climb. The protected gap between market and assessed value can be carried to a new Florida home through portability.
Source: Florida Dept. of Revenue — property tax exemptions ↗
Sales tax is where retirees pay
With no income tax, Florida leans on a 6% state sales tax plus county surtaxes. Groceries and prescription drugs are exempt, so the bite falls mostly on discretionary spending, restaurants and household goods.
Worked examples
A $350,000 homestead
- First $25,000 exempt from every levy: school-taxable value $325,000.
- Second $25,000 (plus its inflation adjustment) also exempt from non-school levies: non-school taxable value about $300,000 or slightly less.
About $50,000 of the $350,000 value escapes non-school millage every year.
A hot market, a capped assessment
- Assessed value last year: $350,000. Market value rises 10%.
- Save Our Homes cap: at most 3% → $350,000 × 1.03 = $360,500 (less if CPI rose under 3%).
Your assessed value can rise by $10,500, not the $35,000 the market moved.
Retirement income, any amount
- $60,000 of IRA withdrawals + $30,000 of Social Security + a $40,000 Roth conversion.
Florida income tax: $0.
Recent and pending changes
- On the November 3, 2026 ballot: HJR 1-F would raise the non-school homestead exemption to $150,000 in 2027 and $250,000 in 2028, indexed after that. It needs 60% of the vote; people who establish Florida residency after 2026 would phase in over four years. Nothing changes unless it passes.
- 2025: the second $25,000 homestead exemption began adjusting for inflation each year (Amendment 5, approved November 2024).
Run your own numbers — pick Florida in the calculator’s Taxes tab for a year-by-year estimate. Or compare all 50 states and DC.
Thinking about a move? The free state-to-state retirement tax comparison puts Florida next to any other state on your own income.
Florida questions
Do I have to apply for the Florida homestead exemption?
Yes. File with your county property appraiser; the home must be your permanent residence on January 1 of the tax year. Once granted, it renews automatically while you keep living there.
Can I keep my Save Our Homes savings if I move within Florida?
Usually. Portability lets you transfer the accumulated difference between market and assessed value to a new Florida homestead, within limits, if you apply in time.
Does Florida tax Roth conversions or required minimum distributions?
No. Florida has no personal income tax, so conversions and RMDs only matter for your federal return.