The idea of eliminating property taxes in Florida has been getting attention, fueled by comments from Governor Ron DeSantis and ongoing conversations among state lawmakers. The proposal would drop property taxes for primary residences while keeping taxes in place on investment and commercial properties, DeSantis said in a recent press conference. (1)<\/p>\n
For homeowners \u2014 and would-be movers from high-tax states \u2014 the concept is undeniably appealing.<\/p>\n
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Florida already stands out as one of the most tax-friendly states in the U.S., largely because it has no state income tax. That alone has made it a magnet for residents relocating from places like New York and California, where taxes take a toll on household budgets. Removing property taxes would take that appeal even further, potentially saving homeowners thousands of dollars annually.<\/p>\n
However, property taxes are a cornerstone of how local governments in Florida operate. They fund public schools, emergency services, infrastructure and community programs. Eliminating them would create an inevitable revenue gap that would need to be filled elsewhere, whether through higher sales taxes, new fees or alternative funding models.<\/p>\n
Who would benefit from the end of property taxes in Florida? <\/p>\n
Florida already has systems in place that favor full-time residents \u2014 most notably, the Homestead Exemption. (2) This benefit reduces the taxable value of a primary residence and caps annual increases, but it requires homeowners to establish permanent residency in the state. These kinds of protections are designed to prevent people from immediately moving in and taking advantage of tax breaks without truly committing to living in the state.<\/p>\n
If property taxes were ever reduced or eliminated, similar guardrails could become a central part of the policy conversation. Lawmakers are looking for ways to ensure that longtime residents \u2014 rather than short-term or opportunistic movers \u2014 receive the greatest benefit. In a state experiencing rapid population growth, that balance is both politically and economically significant.<\/p>\n
DeSantis reiterated a common question he gets during the press conference: “Should someone from New York be able to move the day after the election and, all of a sudden, they don’t pay?” he asked. “I think they should pay for a time.” (1)<\/p>\n
Story Continues <\/p>\n
DeSantis continued that he does not want to incentivize out-of-staters moving to Florida to reap the tax benefits aimed at protecting those who’ve long called the state home.<\/p>\n
“[We] still want to tax the Airbnbs and the Canadians and the third homes and second homes, and obviously the commercial [properties],” he said. “But we want those homesteaded properties \u2014 we want you to own that property. We don’t want to be able to take it from you the minute you stop paying tax on it, and [we] shouldn’t. Your home shouldn’t be used as an ATM for the local government.” (3)<\/p>\n
After all, property tax revenue has climbed from $32 billion in 2019 to $60 billion, which DeSantis said is “pinching a lot of Floridians.” (3)<\/p>\n
Read More: This $1B private real estate fund is now accessible to non-millionaires. Start investing with just $10<\/a><\/p>\n Next steps for the Sunshine State <\/p>\n DeSantis needs to secure 60 percent support in both chambers to place the measure on the ballot because “it’s got to get printed on the ballot,” he explained. (3)<\/p>\n For now, the proposal to eliminate property taxes in Florida remains speculative. There is neither an enacted policy nor a detailed roadmap for when \u2014 or if \u2014 such a shift will actually happen.<\/p>\n DeSantis said in the press conference that state legislators will finish the late state budget before pivoting to property tax reform. (3)<\/p>\n For homeowners and prospective buyers, the takeaway is straightforward: Florida’s tax advantages are real, but they are also already priced into the market in many areas, particularly in housing costs. Banking on future tax elimination as part of a financial decision could be risky \u2014 especially if you’re not already a Florida homeowner and full-time resident.<\/p>\n Ultimately, while the idea of living in a state with neither income nor property taxes is compelling, it remains a theoretical scenario \u2014 one that would require significant trade-offs and careful planning before becoming a reality.<\/p>\n You May Also Like <\/p>\n Join 250,000+ readers and get Moneywise\u2019s best stories and exclusive interviews first \u2014 clear insights curated and delivered weekly. Subscribe now.<\/a><\/p>\n Article Sources <\/p>\n We rely only on vetted sources and credible third-party reporting. For details, see our ethics and guidelines<\/a>.<\/p>\n X (1)<\/a>; Florida Department of Revenue (2)<\/a>; Florida\u2019s Voice (3)<\/a><\/p>\n This article originally appeared on Moneywise.com<\/a> under the title: Ron DeSantis wants to block New Yorkers from cashing in on his no property tax plan and moving ‘the day after’ the vote<\/a><\/p>\n This article provides information only and should not be construed as advice. It is provided without warranty of any kind.<\/p>\n","protected":false},"excerpt":{"rendered":"The idea of eliminating property taxes in Florida has been getting attention, fueled by comments from Governor Ron…\n","protected":false},"author":2,"featured_media":218572,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[86170,4329,3640,24616,4328,9,11,10,5592,7754,4334,11071,86171],"class_list":["post-218571","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york","tag-commercial-properties","tag-dave-ramsey","tag-florida","tag-income-tax","tag-jeff-bezos","tag-new-york","tag-new-york-headlines","tag-new-york-news","tag-property-tax","tag-property-taxes","tag-robert-kiyosaki","tag-ron-desantis","tag-sales-taxes"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/218571","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=218571"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/218571\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/218572"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=218571"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=218571"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=218571"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}