In the Sunshine State, a pressing concern for homeowners and businesses alike is on the horizon: the potential elimination of property taxes. Florida lawmakers have taken a significant step towards making this a reality, approving seven amendments and one bill aimed at reducing or abolishing property taxes for the 2026 legislative session.
The Florida House committee recently greenlit several pieces of legislation that would provide relief to homesteaded homeowners, while largely preserving school district levies and law enforcement funding. At the heart of this movement is the desire to alleviate the increasing financial burdens of homeownership. Rep. Toby Overdorf, chairman of the House Select Committee on Property Taxes, emphasized that local government property taxes are rising at an unsustainable rate, and it's time to return money to Floridians. However, critics caution that eliminating property taxes would not eradicate the need for funding essential local services and infrastructure, which are utilized by everyone.
Instead, this move would merely shift the financial burden. Property taxes currently constitute the largest source of tax revenue for Florida cities and counties. According to state economists, eliminating property taxes would save homeowners $14. 1 billion in the 2027-28 fiscal year and $18. 3 billion in future years.
With seven amendments and one bill aimed at kneecapping property taxes now approved for the 2026 legislative session, it appears that Florida ...More takeaways: See here
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