Florida Property Taxes Could Be Eliminated – What Homeowners Need to Know

A major shake-up may be coming for Florida homeowners and real estate investors! Governor Ron DeSantis has proposed eliminating property taxes in Florida, a move that could dramatically change the way residents pay for essential services. While this idea is still in its early stages, it’s already sparking major discussions about its potential impact.

What’s Happening?

Florida Senate Bill 852 (SB 852) has been introduced to study the feasibility of eliminating property taxes and explore alternative revenue sources, such as a sales-based consumption tax. If the proposal moves forward, the final decision would rest with Florida voters, requiring at least 60% approval through a constitutional amendment.

🔹 Read the full text of the bill here: Senate Bill 852

Potential Benefits for Florida Homeowners

✅ No More Property Taxes – This could significantly reduce annual costs for homeowners and investors.
✅ Increased Homeownership Affordability – Without property taxes, owning a home may become more attractive and accessible.
✅ Higher Property Values? – Some analysts believe that eliminating property taxes could increase property values over time.

The Challenges and Potential Drawbacks

While the idea of eliminating property taxes sounds appealing, there are important obstacles and trade-offs to consider:

❌ How Will Essential Services Be Funded?
Property taxes currently fund crucial local services, including:

• Public schools

• Police and fire departments

• Road maintenance and infrastructure

Without property tax revenue, cities and counties would need to find alternative funding sources to keep these services running.

❌ A Potential Increase in Sales Tax
One proposed alternative is a higher sales tax to replace lost property tax revenue. Some experts estimate that the sales tax could double, which would impact all Floridians, including renters and those with lower incomes.

❌ Economic Uncertainty
Unlike property taxes, which provide a stable source of funding, sales tax revenues fluctuate with the economy. This could create budget instability for local governments, especially during economic downturns.

What’s Next?

The findings from SB 852’s study will be submitted to the Florida Legislature by October 1, 2025. If the proposal moves forward, Florida voters would need to approve the constitutional amendment for it to take effect.

What Does This Mean for You?

If you own property in Florida or are considering buying, this is a critical issue to watch. The potential elimination of property taxes could reshape Florida’s real estate market in both positive and challenging ways.

📢 What do you think? Would eliminating property taxes make Florida real estate more attractive to you, or are you concerned about the possible trade-offs? Let me know in the comments or reach out—I’d love to hear your thoughts!

💡 Stay Updated: I’ll be tracking this proposal closely, so be sure to check back for updates on how this could impact Florida homeowners and buyers.

📞 Need advice on your real estate investments? Contact us today!