Florida lawmakers are back in Tallahassee on Monday for a special session as they consider a proposal by Gov. Ron DeSantis to drop property taxes.
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Gov. DeSantis last week unveiled the proposal aimed at reducing — and eventually eliminating property taxes for many Florida homeowners.
The governor’s proposal would exempt up to $250,000 of a home’s taxable value for homesteaded properties, meaning a person’s primary residence.
Under the proposal, a homeowner with a property valued at $400,000 would only pay taxes on $150,000 of taxable value.
DeSantis said his proposal would eliminate property taxes for 60% of homeowners in Florida.
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A new calculator to determine home property tax savings in Florida is now available online
Critics of DeSantis’ proposal are worried about how cities would continue to fund critical services such as fire and police departments.
DeSantis said the state will be setting up a special trust fund.
The proposal could appear on the November ballot, but first it must receive approval from at least three-fifths of both the Florida House and Senate.
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It the proposal makes it on the ballot, it would need 60% voter approval.