Florida Governor Calls Special Session on Property Tax Cut

Florida Governor Ron DeSantis has called a special legislative session to propose a constitutional amendment that would significantly reduce, and eventually eliminate, property taxes for most homeowners in the state. The governor announced the plan at a press conference in Tampa on Wednesday, aiming to place the measure on the November ballot.

The proposal would initially raise the state's homestead exemption to $250,000, meaning homeowners would pay no property taxes on the first quarter-million dollars of their home's value. It would also require the legislature to develop a schedule to raise that exemption to $500,000. According to the governor, the initial increase would eliminate property taxes for 60 percent of Florida homeowners, with the full increase covering 92 percent of owner-occupied homesteads.

DeSantis framed the plan as necessary relief for residents facing economic pressures. He criticized property taxes as the worst form of taxation, arguing that homeowners are forced to pay repeatedly for something they already own. He noted that property tax revenue in Florida has grown from $32 billion to $60 billion over the past seven years, driven largely by rising...