Florida House Proposes Urgent Tax Cuts as 2026 Vote Approaches

BREAKING: The Florida House has just announced a series of urgent proposals aimed at significantly reducing property taxes, while ensuring essential funding for schools and law enforcement remains intact. House Speaker Daniel Perez outlined these proposals on Thursday, marking a pivotal moment as Gov. Ron DeSantis prioritizes tax cuts for the 2026 elections.

The proposed constitutional amendments will allow Florida voters to decide on various tax reductions, reflecting a growing demand for tax reform across the state. “If we have faith in the voters to elect us, we should not be afraid to let them be a part of the conversation about the taxes they pay,” Perez stated in a memo to House members.

Among the key proposals is HJR 201, sponsored by Rep. Kevin Steele, which seeks to eliminate non-school homestead taxes entirely. Additionally, HJR 203, led by Rep. Monique Miller, aims to phase out these taxes over a ten-year period, increasing the homestead tax exemption by $100,000 annually.

Currently, homeowners benefit from a homestead exemption on the first $25,000 of taxable property value and from local government taxes on values between $50,000 and $75,000. These proposals could dramatically lower tax liabilities for homeowners across the state.

Another significant measure, HJR 205, introduced by Rep. Juan Carlos Porras, would exempt residents aged 65 and older from non-school property taxes. This initiative underscores the House’s commitment to supporting senior citizens as they manage their financial responsibilities.

The implications of these proposals are critical for local governments, which heavily depend on property taxes for funding essential services. Cities and counties are closely monitoring these developments, as they could necessitate alternative revenue sources to offset potential budget shortfalls.

In a recent statement, DeSantis emphasized that most property tax revenue does not originate from homestead properties. “The vast majority of property tax revenue is from second homes, investment properties, and commercial properties,” he explained. He also proposed that the state cover lost property tax revenues for rural counties that face fiscal constraints.

While the Florida Senate has not established a dedicated committee for property tax reform, Majority Leader Jim Boyd expressed interest in addressing this pressing issue. “I do believe there are ways we can make our property tax system more fair and more economical to taxpayers,” Boyd stated.

The legislative session set to commence in January 2024 will provide a platform for lawmakers to deliberate on these proposals, which will require voter approval as they involve constitutional amendments. Other proposals include:

– HJR 207: A new non-school homestead exemption equal to 25% of the assessed value of homes, sponsored by Rep. Shane Abbott.
– HJR 209: An additional $100,000 homestead exemption for property insurance holders, led by Rep. Demi Busatta.
– HJR 211: A measure allowing homeowners to transfer the full value of their “Save Our Homes” benefits to new properties, sponsored by Rep. Toby Overdorf.
– HJR 213: A proposal changing the “Save Our Homes” caps, limiting taxable value increases for homestead property over three years, sponsored by Rep. Griff Griffitts.
– HB 215: A bill requiring two-thirds votes by local governments to raise tax rates, introduced by Rep. Jon Albert.

With these proposals set to reshape Florida’s tax landscape, residents are urged to stay informed and engage in the upcoming discussions. This is a developing story, and we will continue to provide updates as the legislative session approaches. Share your thoughts on these proposed tax cuts and their potential impact on your community.