Gov. Ron DeSantis is pushing for a plan that could significantly change the housing market by eliminating property taxes in Florida. However, experts warn that the proposal could lead to a spike in home prices, making it more challenging for many families to afford a home.
Dirk Fischer, a broker at 5th Homes, expressed concern about the proposal.
"The first thought was amazing. It's good for everyone, but it's actually not," said Fischer. "So I was really blown away when I did the calculation, did the math, and I found out, well, it's really great for the sellers. It's not in the best interest of the buyers."
State lawmakers approved seven property tax proposals last month, aiming to provide tax relief to homeowners. These proposals will be presented to voters as constitutional amendments in the November 2026 election.
Fischer explained the potential impact on homebuyers.
"Well, this is a rough calculation, because more demand, of course, drives the prices, and they think that more people from other states will move to Florida," said Fischer.
Roberto Paler, a Cape Coral resident, shared his thoughts on the proposal.
"I know it would be a huge relief to not have to worry about taxes every single year once you already buy the property, because that's a huge investment in itself," said Paler.
Fischer offered advice for those looking to buy a home.
"I would advise for everyone who is on such a budget to look now, rather than later. On top, I think right now we are at the bottom of the market, so you get the most house for the money," said Fischer.
The tax plan remains a proposal and would need voter approval before potentially taking effect in 2027.