Local governments in Florida are mulling the idea of eliminating property taxes, and even the state’s governor is hinting he could be on board with it.
Realtor.com senior economist Joel Berner believes the proposal could actually benefit the state in the long run by effectively increasing potential homebuyers’ budgets.
“Getting rid of property taxes would essentially increase everybody’s home budget a little bit and allow people to buy a first home or buy a move-up home, or buy their dream home that maybe they couldn’t afford before because it’s a property tax,” he said.
Increased housing costs rising in tandem with inflation have created stagnation in the real estate market as people are refusing to pull the trigger on acquiring new property.
This move could also have negative effects on the market, driving up prices and causing a surge in demand. Additionally, locally-assessed property taxes could be replaced with state-level taxes that take control out of the hands of communities.
“If locally-levied property taxes are replaced with an increased state-level sales tax, there will be less local control for cities and school districts to raise their own tax revenue in a way that meets their specific needs,” he said, adding that a “blanket tax revenue at the state level would be less specialized than property taxes for those requirements.”
On February 13, Governor Ron DeSantis indicated his support for abolishing property tax via an amendment to the state’s constitution.
Property taxes are local, not state. So we’d need to do a constitutional amendment (requires 60% of voters to approve) to eliminate them (which I would support) or even to reform/lower them…
We should put the boldest amendment on the ballot that has a chance of getting that… https://t.co/WpOQmjNl0X
— Ron DeSantis (@GovRonDeSantis) February 13, 2025
“Property taxes are local, not state. So we’d need to do a constitutional amendment (requires 60% of voters to approve) to eliminate them (which I would support) or even to reform/lower them… We should put the boldest amendment on the ballot that has a chance of getting that 60%… I agree that taxing land/property is the more oppressive and ineffective form of taxation…” he wrote.
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Sierra Marlee is a millennial whose hunger for the truth in a world of fake news has led her to BizPac Review.
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