Ron DeSantis Reveals Plan To Scrap Property Tax—What It Means For Homeowners
Summary
Florida Governor Ron DeSantis has proposed increasing the state's homestead exemption from $50,000 to $250,000. This change could nearly eliminate property taxes for about 60% of Florida homeowners who qualify for the exemption.Key Facts
- The homestead exemption protects part of a home’s value from property taxes.
- DeSantis wants to raise this exemption from $50,000 to $250,000.
- About 60% of Florida residents currently qualify for the homestead exemption.
- The plan aims to eventually increase the exemption even more in the coming years.
- A special legislative session on property taxes was called by DeSantis to restart reform talks.
- The Florida House had earlier passed a bill to raise the exemption gradually over 10 years.
- The state Senate did not act on that bill, leaving the issue unresolved until now.
- The plan focuses on helping homeowners facing higher property tax bills in Florida.
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