Gov. DeSantis unveils plan to eliminate Florida homestead property taxes; announces special session

SOUTHWEST FLORIDA (WINK)—Florida homeowners could soon see major property tax savings under a new proposal from Gov. Ron DeSantis, but some warn those cuts could come with major consequences for services like law enforcement, EMS, and roads.

On Wednesday, DeSantis unveiled a plan to raise Florida’s homestead exemption from $50,000 to $250,000. The proposal would still need approval from lawmakers before going before voters as a constitutional amendment.

RELATED: Gov. Ron DeSantis hosts roundtable in Brevard County on property taxes

For some homeowners, the savings could be dramatic.

Whiskey Creek homeowners Maureen Liette and Mark Franzer sat down with a calculator Wednesday afternoon to figure out what the proposal could mean for them.

Under the governor’s plan, they estimate their property tax bill could drop from about $5,300 a year to around $2,300.

“It would be a wonderful relief,” Liette and Franzer said.

The couple said that after years of paying property taxes, the proposal feels like long-awaited relief.

“We've been here a long time, we're paying taxes for a long time. It would be nice to have a reprieve from that,” they said.

Supporters of the proposal argue local governments are in a position to absorb at least some of the cuts because property tax revenue has surged in recent years.

On the social media platform X, DeSantis outlined the "Save Our Homes from Excessive Property Taxes" plan that would largely eliminate taxes on homesteads.  

State Sen. Jonathan Martin told WINK News that property tax collections across Florida have doubled since the COVID-19 pandemic.

“The state of Florida, between all 67 counties, has increased the revenue through property taxes from about $30 billion a year to $60 billion a year since COVID,” Martin said.

But local officials say there is still a major question: who makes up the lost revenue?

Lee County Property Appraiser Matt Caldwell told WINK News the proposal could mean about $1 billion in lost revenue countywide.

“I could certainly see the fiscal impact being around a billion countywide,” Caldwell said.

According to Caldwell, about half of Lee County properties are homesteaded.

He said about 80% of the revenue generated through those tax funds goes to public safety, including law enforcement and EMS. The remaining money helps pay for things like roads and schools.

Caldwell warned the financial burden could simply shift elsewhere.

“You would shift the tax burden to the non-homestead properties, the commercial owners, the apartment buildings, Publix, Walmart, giving them the bill, basically, if it's not being covered by the homeowners,” Caldwell said.

University of Central Florida political scientist Aubrey Jewett said renters and business owners could eventually feel the effects as well.

“If you're a renter, or if you're a small business owner, or you know you work in commercial property, or something like that. Your taxes are going to go up,” Jewett said.

Still, Liette and Franzer said they would accept those tradeoffs if it meant lowering their property tax bill.

“I think I'd be willing to pay a little bit more in other areas than the real estate taxes,” they said.

DeSantis said the proposed $250,000 homestead exemption would just be the beginning. He said he eventually wants to increase it to $500,000.

Lawmakers are expected to take up the proposal during a special session next week.