Florida Senate committee advances property tax reform bill

The Florida Senate Appropriations Committee voted to advance Governor Ron DeSantis' property tax reform bill to the full Florida Senate for consideration.

One proposal in the bill would increase homestead exemptions to $150,000 in 2027 and $250,000 the following year. The measure also aims to reduce the assessment cap on non-homestead properties from 10% to 5%, pending voter approval.

Supporters of the bill argue that homeowners need relief from rising costs, while critics warn it could reduce funding for local governments and public schools.

"The more people learn about this, particularly parents, when they learn about what this could mean for defunding their public schools, I think folks are going to have a lot to say about this," said State Rep. Fentrice Driskell, D-House Minority Leader.

The full Florida Senate voted 30-8 in favor of the bill. Now, the Florida House must approve a version before it can be sent to Governor DeSantis for his signature. Any constitutional amendment resulting from the bill would require approval from at least 60% of Florida voters before taking effect.