Governor DeSantis Proposes Phasing Out Property Taxes in Florida, Calls for Special Legislative Session
Governor Ron DeSantis of Florida has announced a proposal to phase out property taxes on homeowners' residences. The plan involves a November ballot referendum to increase the state's homestead exemption to $250,000. DeSantis made this announcement during a press conference in Tampa Bay, emphasizing the need to alleviate financial burdens on residents. The proposal suggests that local governments could compensate for the loss in revenue by taxing wealthier property owners. A special session of the Florida Legislature has been called to discuss this proposal, which requires 60% approval from the legislature to be placed on the ballot. If approved, the measure would eliminate property taxes on homes valued at $250,000 or less, with a gradual increase in the exemption to $500,000 and eventually a full exemption for all homes. The proposal has received mixed reactions, with some lawmakers supporting the initiative as a means of providing relief to homeowners, while others express concerns about the impact on f...