ORLANDO, Fla. \u2014 Florida lawmakers are proposing several measures to reduce property taxes, a plan endorsed by Governor DeSantis as a way to address increasing home prices.<\/p>\n
The proposals set for discussion in the upcoming legislative session include removing non-school property taxes and raising exemptions for homeowners.<\/p>\n
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.<\/p>\n
Several proposals seek to abolish non-school property taxes completely, either right away or gradually, which could save homeowners thousands of dollars each year.<\/p>\n
Some proposals recommend expanding the exemption homeowners can claim on their property\u2019s value and implementing caps on yearly tax hikes, potentially saving homeowners a few hundred dollars annually.<\/p>\n
A specific proposal aims to help seniors by proposing to eliminate non-school property taxes for them.<\/p>\n
Another set of proposals covers exemptions linked to changes in homeownership, like when someone moves or a couple gets married and moves in together.<\/p>\n
The Republican proposals notably do not impact school funding because schools derive half of their budgets from property taxes.<\/p>\n
As the legislative session nears, the discussion on property tax reform in Florida persists, potentially affecting homeowners and renters alike.<\/p>\n
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