No more property taxes? I like it!

[BrianL99]

Ron DeSantis just announced he's in favor of a Florida Constitutional Amendment, to abolish Real Estate Taxes.

[mtdjed]

Perhaps you read an article saying "Lower" not abolish. And even that only lower for some people.

The state really does not control real estate taxes There is a law that limits the assessed value of homestead property to 3 % or the CPI whichever is less. But the local government determines the tax rate based upon anticipated budget requirements . The total Local government requirement is extremely likely to increase each year. Your actual rate can actually decrease if you are in a growing area, but is not going to be abolished.

Hopefully readers don't get themselves into a frenzy due this thread.

"But in this world, nothing can be said to be certain, except death and taxes."—Benjamin Franklin

[BrianL99]

Perhaps you read an article saying "Lower" not abolish. And even that only lower for some people.

The state really does not control real estate taxes There is a law that limits the assessed value of homestead property to 3 % or the CPI whichever is less. But the local government determines the tax rate based upon anticipated budget requirements . The total Local government requirement is extremely likely to increase each year. Your actual rate can actually decrease if you are in a growing area, but is not going to be abolished.

Hopefully readers don't get themselves into a frenzy due this thread.

"But in this world, nothing can be said to be certain, except death and taxes."—Benjamin Franklin

No, I read exactly what DeSantis said on X last night:

"Property taxes are local, not state. So we'd need to do a constitutional amendment (requires 60% of voters to approve) to eliminate them (which I would support) or even to reform/lower them...
We should put the boldest amendment on the ballot that has a chance of getting that 60%...
I agree that taxing land/property is the more oppressive and ineffective form of taxation..."

Local Government does not determine the Tax Rate, based on anticipated Budget requirements. Tax Rate is derived from the actual Budget.

Whether your "tax rate" goes up or down, has nothing to do with a "growing area" or non-growing area. A tax rate is nothing more than an apportionment factor. It is not really "set", but rather derived from an actual budget, divided by the total assessed value.

[kingofbeer]

No, I read exactly what DeSantis said on X last night:

"Property taxes are local, not state. So we'd need to do a constitutional amendment (requires 60% of voters to approve) to eliminate them (which I would support) or even to reform/lower them...
We should put the boldest amendment on the ballot that has a chance of getting that 60%...
I agree that taxing land/property is the more oppressive and ineffective form of taxation..."

Local Government does not determine the Tax Rate, based on anticipated Budget requirements. Tax Rate is derived from the actual Budget.

Whether your "tax rate" goes up or down, has nothing to do with a "growing area" or non-growing area. A tax rate is nothing more than an apportionment factor. It is not really "set", but rather derived from an actual budget, divided by the total assessed value.
There are many taking advantage of exemptions in the state, (including many in The Villages) they end up paying little or no real estates. "Disabled" veteran is an example of one. I hope the veteran has to provide an official letter from the VA proving this. But I don't know what is required. Also, there are others who claim Florida homestead who actually have homestead in other states. DeSantis does not have a clue about what is he talking about. If you eliminate or reduce property tax, then they would need to increase other revenue or taxes to make up the difference.

[Number 10 GI]

There are many taking advantage of exemptions in the state, (including many in The Villages) they end up paying little or no real estates. "Disabled" veteran is an example of one. I hope the veteran has to provide an official letter from the VA proving this. But I don't know what is required. Also, there are others who claim Florida homestead who actually have homestead in other states. DeSantis does not have a clue about what is he talking about. If you eliminate or reduce property tax, then they would need to increase other revenue or taxes to make up the difference.

Yes, a disabled veteran has to provide proof from the VA stating that he/she is disabled. Do you really think that the county is just going to accept a person's word, without proof, that they are disabled?

[Bill14564]

No, I read exactly what DeSantis said on X last night:

"Property taxes are local, not state. So we'd need to do a constitutional amendment (requires 60% of voters to approve) to eliminate them (which I would support) or even to reform/lower them...
We should put the boldest amendment on the ballot that has a chance of getting that 60%...
I agree that taxing land/property is the more oppressive and ineffective form of taxation..."

Local Government does not determine the Tax Rate, based on anticipated Budget requirements. Tax Rate is derived from the actual Budget.

Whether your "tax rate" goes up or down, has nothing to do with a "growing area" or non-growing area. A tax rate is nothing more than an apportionment factor. It is not really "set", but rather derived from an actual budget, divided by the total assessed value.

I see that now on X but that is not the statement he has been making. Personally, I would put more weight in what he said in his prepared press conferences in Miami and Destin. An off the cuff comment on X to cheer on a supporter doesn't seem to be as official, at least to me.

You might want to explain your take on tax rates to the Sumter County Administrator and Commissioners as both have pointed to growth as the reason the millage rate is low. From the FY24-25 Budget Letter: "10-year growth in total property tax revenues – 5th position at 110.4% (indicator of growth driving the lower millage rate)."(emphasis added)

[BrianL99]

If you eliminate or reduce property tax, then they would need to increase other revenue or taxes to make up the difference.

Well that would make perfect sense, wouldn't it?

[tophcfa]

The moneys gotta come from somewhere, if someone gets a break then someone else is going to have to make up the difference.

[Papa_lecki]

More than likely, property taxes would be eliminated if you have the homestead exemption. If you rent your house, you won’t be exempt, commercial properties wont be exempt.

If you want to change the economics of residential landlords in the villages, this will do it. Their property taxes will go up.
Commercial property taxes will also go up, but relatively less - so, yes we will pay more for a burger or a beer. But probably not more than the savings of not paying taxes.

[CoachKandSportsguy]

More than likely, property taxes would be eliminated if you have the homestead exemption. If you rent your house, you won’t be exempt, commercial properties wont be exempt.

If you want to change the economics of residential landlords in the villages, this will do it. Their property taxes will go up.
Commercial property taxes will also go up, but relatively less - so, yes we will pay more for a burger or a beer. But probably not more than the savings of not paying taxes.

maybe, but the cities have a higher proportion of commercial vs residential, so how will the inequity of commercial vs residential between municipalities be reconciled?

[Topspinmo]

Ron DeSantis just announced he's in favor of a Florida Constitutional Amendment, to abolish Real Estate Taxes.


What’s catch? They’re always a catch…… :thumbup:

[tophcfa]

More than likely, property taxes would be eliminated if you have the homestead exemption. If you rent your house, you won’t be exempt, commercial properties wont be exempt.

That would screw over part time residents who don’t rent their home. But since part timers typically don’t vote, they aren’t given the same benefits as full timers even though they are both residential homeowners.

[justjim]

What’s catch? They’re always a catch…… :thumbup:

More than likely property taxes lower to elect the next governor and keep the legislators in office that are already there. The other “catch” you still have a bond to pay and maintenance fee in The Villages. Of course there is also your amenities fee. As long as Florida keeps growing you can make it all work to a certain extent.

[Papa_lecki]

More than likely property taxes lower to elect the next governor and keep the legislators in office that are already there. The other “catch” you still have a bond to pay and maintenance fee in The Villages. Of course there is also your amenities fee. As long as Florida keeps growing you can make it all work to a certain extent.

Bond, Maintenance Fees and Amenity fees have nothing to do with property taxes.

[Papa_lecki]

That would screw over part time residents who don’t rent their home. But since part timers typically don’t vote, they aren’t given the same benefits as full timers even though they are both residential homeowners.

It would screw over part timers.

It would also make the economic case to establish FLA residency (to get the homestead) sooner rather than later.

[kkingston57]

Great for people who own property in Florida who do not get the Homestead Exemption. Problem is that something else is going to be needed to offset these taxes. Florida is already one of the least taxed states. Envision sales taxes going to 9-10%

[Byte1]

It ain't gonna happen.
Veterans get a very small benefit from tax relief, if you look at the small discount on property taxes. It's not even as much as homestead exemption, which is what, something like 50%??
Even if they really did give full time residents total exemption from property taxes, why do part timers think they should benefit from it. Why do they think that it is unfair to them? They are not totally committed residents of Florida if they have two different state homes and come here just to take advantage of a vacation home. Not everyone can afford two homes. Quit crying about someone else getting more break than you.

[fdpaq0580]

Ron DeSantis just announced he's in favor of a Florida Constitutional Amendment, to abolish Real Estate Taxes.

What's in it for him? Just wondering.

[jimhoward]

That is crazy, they would never eliminate property tax. Its a way to get significant tax revenue from retirees which are a major Florida demographic.

How else will the county and towns get significant tax revenue from you in a way that cannot be easily avoided?

[tophcfa]

That is crazy, they would never eliminate property tax. Its a way to get significant tax revenue from retirees which are a major Florida demographic.

How else will the county and towns get significant tax revenue from you in a way that cannot be easily avoided?

Florida has a unique situation where they can tax the tourists big time and they will sill keep coming. In economics terms, it’s called inelastic demand. They also hit part timers with more property taxes than full timers, since part timers typically don’t vote, so there is no payback for treating them as inferior even though they are residential homeowners just like the full timers.

[Papa_lecki]

What's in it for him? Just wondering.

To be the first governor to eliminate property taxes.

[Papa_lecki]

That is crazy, they would never eliminate property tax. Its a way to get significant tax revenue from retirees which are a major Florida demographic.

How else will the county and towns get significant tax revenue from you in a way that cannot be easily avoided?

Sugar tax (on sugary drinks - i.e. sodas, etc
Alcohol tax

In Philadelphia - the sugar tax is 1.5 cents per ounce
Alcohol tax is 10%

In ‘NY, the alcohol tax is
Beer 14¢/gal. state, plus NYC 12¢; Still and sparkling wine 30¢/gal. (natural); Spirits <24% $1.70 per liter state, plus 26¢; Spirits >24% 67¢ per liter

Sumter county will absolutely replace their property tax with a 10% tax on alcohol.
They only need to replace the property taxes for the full timers.

[BrianL99]

Food for thought.

I looked at buying a home in South Carolina, before I bought in TV.

The house was about $450,000.

As a "resident" of South Carolina, the real estate taxes would have been about $1800.

As a "Non-Resident" of South Carolina, the real estate taxes would have been about $4500.

(It was a few years ago, I might be a little off on the numbers.)

If you're a Resident of South Carolina in an owner-occupied home, you do not pay any school system operating costs and you're generally entitled to a 2% credit on your Real Estate Assessment. (4% vs 6% valuation).

Commercial properties and investment properties, carry the majority of the tax burden.

So a major change in Real Estate taxation, may not be as far-fetched as folks are posting.

[Topspinmo]

That is crazy, they would never eliminate property tax. Its a way to get significant tax revenue from retirees which are a major Florida demographic.

How else will the county and towns get significant tax revenue from you in a way that cannot be easily avoided?

The lottery after all it was fix all for schools:D o wait 1/3 of my taxes is school district tax. :D