Property taxes fund essential services, which are subject to inflation. The Save Our Homes Act limits the increase in assessed value of your house to 3% annually (if you are homesteaded). It could be less. Assuming no change in the millage rate and the limit of 3% was reached every year, 20 years would equate to about a 1.8x increase in the assessed value of your house and therefore about a 1.8x increase in your property taxes.
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Originally Posted by Bwanajim
Yes, I was wondering when DeSantis said about the property taxes. Impossible. Then I saw him the other day talking about putting a limit on it. I.e, if you bought your house 20 years ago and paid 300 K and now worth 600 K. You should not have to pay more.
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