Summary
Starting in 2026, property tax reform will remain a key issue across the United States, with discussions focusing on whether to lower or eliminate these taxes. Property taxes have increased significantly since the pandemic, prompting calls for relief. Some states, like Florida, are considering drastic changes, such as cutting or removing property taxes altogether.
Key Facts
- Property tax reform is a major topic in the U.S., especially in states led by Republicans.
- Taxes on property rose by 30% nationally from 2019 to 2024.
- Home values went up quickly after the pandemic, and this led to spikes in taxes.
- Many states are exploring ways to lower or eliminate property taxes.
- Florida is considering removing property taxes, but this is controversial.
- If property taxes are removed, states would need to find new ways to fund public services.
- Current discussions include replacing property tax revenue with income or sales taxes.
- Experts warn that eliminating property taxes might have economic downsides.
