[Normal]

Governor DeSantis released his blueprint yesterday for property tax removal. It includes 5 workable components to benefit all homestead taxpayers.

Quoted Verbatim

Homestead Exemptions: Exempts the first $250,000 of a homestead’s value from taxation, though it also requires a schedule to eventually phase them out in full

Local Services: Requires local governments to use remaining property taxes solely for core public needs, such as public safety, education, infrastructure and natural resources

Business Taxes: Limits future property tax assessments on businesses and creates a more stable tax environment for local businesses

Residency Requirements: Requires anyone who establishes Florida residency after Jan. 1, 2027, to maintain Florida residency for up to five years before receiving the increased homestead exemption

Trust Fund: Establishes a state trust fund to provide grants to local governments to help with the continuation of core local services.
Here are the 5 big rules in Florida Gov. DeSantis’ new property tax plan

[[email protected]]

That sounds good except that it doesn’t say what replaces the funding from property tax. It could be a boon to people from all over the country to relocate here.

[Normal]

Originally Posted by [email protected]

That sounds good except that it doesn’t say what replaces the funding from property tax. It could be a boon to people from all over the country to relocate here.

They would wait 5 years till they could be exempt for homestead tax breaks. You can’t just sign up for residence and get the break after 2027.

[tophcfa]

Originally Posted by Normal

Governor DeSantis released his blueprint yesterday for property tax removal. It includes 5 workable components to benefit all homestead taxpayers.

Quoted Verbatim

Homestead Exemptions: Exempts the first $250,000 of a homestead’s value from taxation, though it also requires a schedule to eventually phase them out in full

Local Services: Requires local governments to use remaining property taxes solely for core public needs, such as public safety, education, infrastructure and natural resources

Business Taxes: Limits future property tax assessments on businesses and creates a more stable tax environment for local businesses

Residency Requirements: Requires anyone who establishes Florida residency after Jan. 1, 2027, to maintain Florida residency for up to five years before receiving the increased homestead exemption

Trust Fund: Establishes a state trust fund to provide grants to local governments to help with the continuation of core local services.
Here are the 5 big rules in Florida Gov. DeSantis’ new property tax plan

Well, the residency requirement sucks for part time Florida homeowners who have already owned a Florida home for many years. To become a resident before 2027, one would have to already have filed for residency by March first of this year, so that ship has already sailed.

[village dreamer]

we all know who's going to get screwed over on this one. my home tax may go down , but the police and schools still have to get money from someone.....its going to be very interesting and lots of crazy accounting going on. and i bet 80% of the people will vote it in.

[raananh]

I prefer no Property Taxes which are fixed, very high and I must pay, on-time, or lose my house.

Instead, I prefer higher sales-tax which, if someone is short with money, they simply buy less or cheaper. Sales Tax can be controlled by you.

[MrFlorida]

If Delaware can have extremely low taxes, and no sales tax , why can't Florida ?

[dougjb]

This proposal ONLY applies to homesteaded residences.

For a moment, please consider that many of our service personnel live in rented houses. As such, those homes would still be subject to property taxes. Since there will be a huge gap in tax revenue caused by eliminating property taxes on homesteaded properties, where will that money come from? An easy source might be to increase the burden on those homes which are rented to our service personnel. Can these individuals really afford to pay that much more in rent to cover the huge increase in tax revenue from non-homestead property.

Also, please note, this initiative removes local authorities from evaluating where local tax revenue should be used. Instead, these decisions will be made by state authorities, presumably in Tallahassee. Will those far distant politicians have the wherewithal to evaluate our local road conditions and police protection. We might as well let the politicians in Washington decide.

This is a really bad proposal on the part of the governor and the state legislature. But, I feel it will overwhelmingly pass since only those who are residents of Florida can vote and most of them own homesteaded property.

Be careful of how sweet the candy is! It may not be good for us.

[Jim 9922]

One of the big problems I see is that local governments will be at the political and bureaucratic mercy of the State government to receive substantial funding. And, how will all that extra State money be funded? Probably a massive state sales tax increase which gives the State bureaucrats even more power and money to play with. In my opinion keep taxes and local spending local as much as possible.

[TommyT]

Do like GEORGIA... Do away with school taxes for homesteaded property owned by person(s) over seventy ...

[Normal]

Originally Posted by dougjb

This proposal ONLY applies to homesteaded residences.

For a moment, please consider that many of our service personnel live in rented houses. As such, those homes would still be subject to property taxes. Since there will be a huge gap in tax revenue caused by eliminating property taxes on homesteaded properties, where will that money come from? An easy source might be to increase the burden on those homes which are rented to our service personnel. Can these individuals really afford to pay that much more in rent to cover the huge increase in tax revenue from non-homestead property.

Incorrect. Base housing is not taxed or charged for and a service member purchasing a home is subsidized with BAQ by the US military.

[JGibson]

So if someone is a Florida resident but renting and inherits or buys their first home they have to wait 5 years to get the exemption. That doesn't sound very Florida resident friendly.

[dougjb]

Originally Posted by Normal

Incorrect. Base housing is not taxed or charged for and a service member purchasing a home is subsidized with BAQ by the US military.

Service personnel does not always mean those in the military. Service personnel means those who provide service to us...such as waiters, waitresses, groundskeepers barbers, beauticians, etc.

When considering voting for or against this proposal, please try to think of all those who might be impacted.

[Normal]

Originally Posted by JGibson

So if someone is a Florida resident but renting and inherits or buys their first home they have to wait 5 years to get the exemption. That doesn't sound very Florida resident friendly.

Not if they are a resident before Jan 1, 2027. Residency must be established before 2027 or a person waits 5 years for eligibility. If you rent but are a resident you are OK and eligible for the exemption. The rule likely prevents those looking for tax advantages by suddenly changing residency for breaks and abruptly burdening the system.

[OrangeBlossomBaby]

Originally Posted by Normal

Not if they are a resident before Jan 1, 2027. Residency must be established before 2027 or a person waits 5 years for eligibility. If you rent but are a resident you are OK and eligible for the exemption. The rule likely prevents those looking for tax advantages by suddenly changing residency for breaks and abruptly burdening the system.

It also impacts seniors who simply want to move to Florida, as millions of Seniors have done throughout the history of "Seniors who move south from the north when they retire."

If they're not seniors until January 2, 2027, they'll pay a HIGH property tax - likely much higher than current property tax since the municipalities have to get that money from someone. It's likely they'll have to pay more than they're already paying in their northern home. And they can't homestead for another 5 years? That'd be a dealbreaker. I'd rather live in poverty back in Connecticut, than live in poverty in Florida. At least CT has more services, better services, and I would've qualified for Medicaid before the Medicare kicked in.