Governor Ron DeSantis announced Wednesday he is calling a special legislative session beginning Monday, June 1, to advance his “Save Our Homes from Excessive Property Taxes” plan – a proposal that could eventually eliminate homestead property taxes in Florida entirely.
The plan starts by raising the homestead exemption from $50,000 to $250,000 immediately. DeSantis says that alone would wipe out property taxes for about 60% of Florida homeowners. A further expansion to $500,000 would cover roughly 92% of homesteaded properties.
The governor cited explosive growth in local government property tax collections – nearly doubling from $32 billion to $60 billion over seven years – as justification for the move. “Taxing something that you own repeatedly is the worst way to do taxation,” DeSantis said.
But local governments are sounding the alarm. Counties and municipalities say property taxes are the backbone of funding for schools, police, fire, and EMS – and eliminating them could leave a $55 billion hole in public services. DeSantis says a state trust fund would be created to cover core local services.
Here is the catch: this is not a done deal. Lawmakers must approve the proposal with 60% support in both chambers. If it passes the Legislature, it goes on the November ballot – where it would need another 60% from Florida voters to become law.
For Space Coast homeowners, the Tax Foundation estimates the average Brevard County homeowner could see significant savings if the plan moves forward.
The special session kicks off Monday. We will be watching closely.
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