Florida Moves Forward with Initiative to Abolish Property Taxes for Primary Residents
Florida Governor Ron DeSantis joins ‘Varney & Co.’ to discuss the elimination of property taxes, the state’s AI legislation, and the upcoming midterm elections.
Florida Governor Ron DeSantis has laid out the next steps in the state’s ambitious plan to eliminate property taxes on primary residences. Speaking on FOX Business’ “Varney & Co.” on Friday, DeSantis emphasized the financial strain many residents are facing. “People are being pinched across the economy in a lot of things,” he stated. “We’re doing fine at the state [level], but the local property taxes are hurting people.”
DeSantis pointed to local government overspending as a key issue, questioning, “When is enough, enough?” His administration aims to completely eliminate property taxes for homesteaded residents, a groundbreaking move that would position Florida as the first state in the nation to abolish property taxes on primary residences while also maintaining a zero state income tax.
A TALE OF TWO FLORIDAS: REAL ESTATE INDUSTRY TORN OVER DESANTIS’ PUSH TO ELIMINATE PROPERTY TAXES
Reports indicate that lawmakers in the Florida House are advancing a series of proposals that include a $500,000 homestead exemption, with a potential maximum of $1 million for seniors. Additionally, there are discussions about capping assessment increases and providing the option to eliminate property taxes on homesteads entirely.
Florida Gov. Ron DeSantis speaks during a news conference announcing an audit of Broward County’s spending, at the FDOT District 4 office in Fort Lauderdale, Florida, on July 22, 2025. (Getty Images)
According to the Florida Policy Institute (FPI), property taxes generate approximately $55 billion annually, accounting for about 18% of county revenues, 17% of municipal revenues, and up to 60% of school district funding in many areas. The FPI warns that eliminating property taxes could necessitate a significant increase in other revenue sources, potentially raising the state sales tax from 6% to as high as 12%.
DeSantis’ office initially pitched the proposal in March and has since vetoed a study on property taxes that would evaluate how local governments utilize tax revenue and the implications of reducing it. He clarified that any tax cuts may need to be phased in, and that 60% of voters will need to approve the proposal on the 2026 ballot.
Miami Mayor Francis Suarez discusses how New York’s high taxes and left-wing policies are driving wealthy residents to Florida and fueling record growth in Miami’s booming economy.
“The majority of our revenue for property tax is [from] non-Florida residents because people have second homes … and commercial property. So it ends up being about 30% of the [total property tax] revenue,” DeSantis explained. He acknowledged that the implementation of these changes may require careful planning and sensitivity to various factors. “I want something that can work, and I want something that can pass,” he added.
Furthermore, DeSantis noted that local property tax revenue has surged since the estimated $32 billion figure in 2019, enabling the state to significantly bolster its rainy-day fund.
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Florida Gov. Ron DeSantis weighs in on key East Coast races Election Day on ‘Hannity.’
DeSantis challenged the current system, asking, “Can you have a situation where every five or six years you’re increasing budgets 50, 60%?” He acknowledged that the COVID-19 pandemic had spurred a boom in Florida, leading to rising property values. “But how is it that you buy a home for $350,000 and then, four years later, they tell you it’s worth a million dollars and you gotta pay more in property tax? It’s not right,” he asserted.
Florida Governor Ron DeSantis joins ‘Varney & Co.’ to discuss the elimination of property taxes, the state’s AI legislation, and the upcoming midterm elections.
Florida Governor Ron DeSantis has laid out the next steps in the state’s ambitious plan to eliminate property taxes on primary residences. Speaking on FOX Business’ “Varney & Co.” on Friday, DeSantis emphasized the financial strain many residents are facing. “People are being pinched across the economy in a lot of things,” he stated. “We’re doing fine at the state [level], but the local property taxes are hurting people.”
DeSantis pointed to local government overspending as a key issue, questioning, “When is enough, enough?” His administration aims to completely eliminate property taxes for homesteaded residents, a groundbreaking move that would position Florida as the first state in the nation to abolish property taxes on primary residences while also maintaining a zero state income tax.
A TALE OF TWO FLORIDAS: REAL ESTATE INDUSTRY TORN OVER DESANTIS’ PUSH TO ELIMINATE PROPERTY TAXES
Reports indicate that lawmakers in the Florida House are advancing a series of proposals that include a $500,000 homestead exemption, with a potential maximum of $1 million for seniors. Additionally, there are discussions about capping assessment increases and providing the option to eliminate property taxes on homesteads entirely.
Florida Gov. Ron DeSantis speaks during a news conference announcing an audit of Broward County’s spending, at the FDOT District 4 office in Fort Lauderdale, Florida, on July 22, 2025. (Getty Images)
According to the Florida Policy Institute (FPI), property taxes generate approximately $55 billion annually, accounting for about 18% of county revenues, 17% of municipal revenues, and up to 60% of school district funding in many areas. The FPI warns that eliminating property taxes could necessitate a significant increase in other revenue sources, potentially raising the state sales tax from 6% to as high as 12%.
DeSantis’ office initially pitched the proposal in March and has since vetoed a study on property taxes that would evaluate how local governments utilize tax revenue and the implications of reducing it. He clarified that any tax cuts may need to be phased in, and that 60% of voters will need to approve the proposal on the 2026 ballot.
Miami Mayor Francis Suarez discusses how New York’s high taxes and left-wing policies are driving wealthy residents to Florida and fueling record growth in Miami’s booming economy.
“The majority of our revenue for property tax is [from] non-Florida residents because people have second homes … and commercial property. So it ends up being about 30% of the [total property tax] revenue,” DeSantis explained. He acknowledged that the implementation of these changes may require careful planning and sensitivity to various factors. “I want something that can work, and I want something that can pass,” he added.
Furthermore, DeSantis noted that local property tax revenue has surged since the estimated $32 billion figure in 2019, enabling the state to significantly bolster its rainy-day fund.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Florida Gov. Ron DeSantis weighs in on key East Coast races Election Day on ‘Hannity.’
DeSantis challenged the current system, asking, “Can you have a situation where every five or six years you’re increasing budgets 50, 60%?” He acknowledged that the COVID-19 pandemic had spurred a boom in Florida, leading to rising property values. “But how is it that you buy a home for $350,000 and then, four years later, they tell you it’s worth a million dollars and you gotta pay more in property tax? It’s not right,” he asserted.
