Summary
Multiple U.S. states are working on reforms to reduce property taxes, responding to rising housing costs and high tax bills. States like Florida, Ohio, Iowa, Arizona, and Colorado are considering or implementing changes that aim to help homeowners but could impact local government budgets that rely on these taxes.
Key Facts
- Property taxes have risen nearly 30% nationwide from 2019 to 2024, reaching an average of $250 per month.
- Florida is considering changes that could phase out some property taxes; these changes need voter approval in 2026.
- Ohio has introduced property tax reform bills to cap tax growth and simplify the tax system.
- Iowa's tax reform limits tax growth to about 2% and includes a homestead exemption.
- In Arizona, Proposition 312 allows property tax refunds if local governments do not enforce nuisance laws.
- Colorado has expanded property tax exemptions for disabled veterans and senior citizens starting in 2025.
