Florida House Proposes Urgent Cuts to Property Taxes Ahead of 2026 Vote

URGENT UPDATE: The Florida House has just announced a series of bold proposals aimed at slashing property taxes, setting the stage for a significant ballot initiative in the upcoming 2026 elections. House Speaker Daniel Perez, R-Miami, unveiled these amendments during a session in Tallahassee, emphasizing the need for voter input on tax policies that directly affect Floridians.

This announcement comes as Governor Ron DeSantis prioritizes property tax reform, encouraging lawmakers to present various options to the electorate. “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 memorandum to his colleagues.

Among the proposals, Rep. Kevin Steele, R-Dade City, introduced HJR 201, which seeks to eliminate non-school homestead taxes, while Rep. Monique Miller, R-Palm Bay, aims to phase out these taxes over a 10-year period with annual increases of $100,000 in homestead tax exemptions. Currently, homeowners benefit from exemptions on the first $25,000 of taxable property values and additional exemptions on values between $50,000 and $75,000.

Another key proposal, HJR 205, introduced by Rep. Juan Carlos Porras, R-Miami, would exempt homeowners aged 65 and older from paying non-school taxes. This is a critical move as many senior citizens struggle with rising living costs.

The urgency of these proposals is underscored by the potential impacts on local funding, particularly for schools and law enforcement, which rely heavily on property tax revenues. Local governments are closely monitoring these developments, fearing budget shortfalls if the proposals pass.

Governor DeSantis addressed these concerns while in West Palm Beach, stating, “The vast, vast majority of property tax revenue is not from homestead Floridians’ properties. It’s second homes, investment properties, commercial properties.” He has suggested that the state could compensate for lost revenues in rural areas, indicating a comprehensive approach to managing the financial implications of tax cuts.

The proposed amendments are not limited to just a few measures. Additional proposals include HJR 207, sponsored by Rep. Shane Abbott, R-DeFuniak Springs, which would establish a new non-school homestead exemption equal to 25 percent of assessed property values. Meanwhile, HJR 209 by Rep. Demi Busatta, R-Coral Gables, seeks to offer an added $100,000 exemption for homeowners with property insurance.

Furthermore, HJR 211 by Rep. Toby Overdorf, R-Palm City, would expand the portability of “Save Our Homes” benefits, allowing homeowners to transfer full value benefits to new residences. HJR 213, led by Rep. Griff Griffitts, R-Panama City Beach, proposes a cap on taxable value increases for homesteaded properties to 3 percent over three years, a shift from the current annual cap.

The Florida House will consider these proposals when the legislative session resumes in January 2024. Almost all proposals require voter approval, making this an urgent issue for the electorate to engage with as they prepare for the 2026 ballot.

As these developments unfold, Floridians are encouraged to stay informed and participate in the conversation surrounding property taxes. The implications of these proposals could change the financial landscape for homeowners and local governments alike.

Stay tuned for further updates as the situation develops.