Florida homeowners, brace yourselves, there’s a conversation happening in Tallahassee that could completely shake up your wallet. Yes, we’re talking about the possibility of eliminating property taxes. Sounds like a dream, right? Well, let’s unpack what that would actually mean.
The Big Idea
Governor DeSantis and state lawmakers are exploring a radical idea, cutting property taxes entirely. To make it happen, it would need a constitutional amendment, and voters like you would have the final say. But before we start celebrating, let’s look at the numbers.
Local Governments Would Feel the Pinch
Property taxes aren’t just an annoying line item on your bill, they fund the schools, roads, police, and fire departments that keep our communities running. Eliminate them, and local governments are suddenly staring at multi-billion-dollar revenue gaps.
Statewide, we’re talking more than $50 billion in lost revenue. Ouch.
So, what would happen next? Local services might face cuts unless Florida comes up with a new way to fill the void.
Enter Sales Taxes, Maybe
The most likely replacement is higher sales taxes. But here’s the catch:
-
Regressive impact: Low- and middle-income residents would feel it the most
-
Revenue rollercoaster: Sales taxes fluctuate with the economy, unlike property taxes which are steady
-
Sticker shock: The new rate could approach 12 percent, which is double what many of us currently pay
In other words, your pizza, coffee, and online shopping spree could become your new property tax.
Homeowners vs. Renters
Sure, homeowners would cheer, but renters might not. Higher sales taxes could drive up costs for everything from groceries to utilities. And if local governments start slashing services, everyone pays in some other way.
Equity Concerns
Eliminating property taxes isn’t just about numbers, it’s about fairness. Critics say it would shift the tax burden onto those least able to afford it, while jeopardizing essential services like schools and emergency services.
The Bottom Line
So, could Florida pull this off? Technically, yes, but it would require voter approval via a constitutional amendment, likely on the 2026 ballot. And the reality is, the “free lunch” of no property taxes comes with a hefty price tag elsewhere.
In short, homeowners might save on their tax bill, but almost everyone would pay in some other way. If you’re thinking of buying or selling soon, this is a conversation worth paying attention to.
