By Paul A. Domenech
Florida Gov. Ron DeSantis announced a proposal that could significantly reduce — and eventually eliminate — property taxes on homesteaded homes in Florida.
The proposal comes as Florida’s budget has grown from approximately $32 billion in 2019 to nearly $60 billion today. According to DeSantis, the increase in revenue gives the state the ability to provide homeowner relief while continuing to fund schools, police departments, fire departments, infrastructure and other essential services.
The proposal is called “Save Our Homes from Excessive Property Taxes.”
The first phase of the plan would create a proposed $250,000 homestead exemption. According to projections tied to the proposal, that exemption could eliminate property taxes for roughly 60% of Florida homeowners immediately. The long-term goal would be to phase out property taxes on primary residences completely.
During the announcement, DeSantis addressed concerns about how local governments would continue operating without relying as heavily on residential property taxes. He pointed to Florida’s budget growth over the last several years and stated that the state already has the resources to help offset those costs if needed.
Part of the proposal includes creating a state trust fund that would issue grants to local governments to support essential services such as schools, police departments and emergency response agencies.
Other parts of the proposal include the following:
- A five-year residency requirement before homeowners qualify for the full benefits.
• Limits on local government spending focused on core services.
• Assessment caps for businesses.
• Potentially shifting more of the tax burden toward commercial properties and non-homesteaded or out-of-state-owned properties.
The proposal is designed specifically around homesteaded primary residences, meaning full-time Florida homeowners would receive the largest benefits. Commercial properties, investment properties, vacation homes and out-of-state-owned properties could see higher tax responsibility to help balance funding needs for local governments.
If approved by lawmakers, the proposal would appear on the 2026 Florida ballot and would require 60% voter approval to pass.
According to projections discussed alongside the proposal, if the homestead exemption eventually expands toward $500,000, up to 92% of Florida homesteaders could potentially pay zero property taxes on their primary residence.
Property taxes currently serve as one of the largest funding sources for local governments throughout Florida. Those funds help pay for public schools, infrastructure projects, emergency services, parks and local operations.
The proposal has already created major conversations across the state surrounding housing affordability, long-term homeownership costs, government spending and how Florida funds local services moving forward.
Florida has continued seeing strong population growth over the last several years as residents relocate from higher-tax states. At the same time, rising insurance costs, home prices and overall affordability have become major topics across the state.
Keep looking out for updates on this proposal and continue educating yourself on both sides of the discussion so, when it’s time to vote, you can make an informed decision based on facts, details and long-term impact.
