ORLANDO, Fla. — Florida lawmakers are proposing several measures to reduce property taxes, a plan endorsed by Governor DeSantis as a way to address increasing home prices.
The proposals set for discussion in the upcoming legislative session include removing non-school property taxes and raising exemptions for homeowners.
Critics contend that these proposals might result in increased sales taxes, affecting renters, and argue that homeowners should also pay their share for infrastructure and services.
Several proposals seek to abolish non-school property taxes completely, either right away or gradually, which could save homeowners thousands of dollars each year.
Some proposals recommend expanding the exemption homeowners can claim on their property’s value and implementing caps on yearly tax hikes, potentially saving homeowners a few hundred dollars annually.
A specific proposal aims to help seniors by proposing to eliminate non-school property taxes for them.
Another set of proposals covers exemptions linked to changes in homeownership, like when someone moves or a couple gets married and moves in together.
The Republican proposals notably do not impact school funding because schools derive half of their budgets from property taxes.
As the legislative session nears, the discussion on property tax reform in Florida persists, potentially affecting homeowners and renters alike.
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