Florida Governor Ron DeSantis recently announced his support for eliminating property taxes, calling them “the more oppressive and ineffective” form of taxation. In a post on X, the governor explained that since property taxes are determined at the local level, a constitutional amendment—requiring 60% voter approval—would be necessary to eliminate or significantly reduce them.
How Would Florida Replace Property Tax Revenue?
While Florida benefits from a strong tourism-driven economy, property taxes currently fund essential local services such as police, fire departments, and public schools. According to Amir Neto, Director of the Regional Economic Research Institute at Florida Gulf Coast University, if property tax revenue is lost, the state must either cut spending or find alternative revenue sources.
Rising Property Taxes in Florida
Homeowners in Florida have experienced a sharp rise in property taxes in recent years. According to CoreLogic data:
- The median property tax in Florida reached $3,101 in 2024, a 9.5% increase from the previous year.
- Since 2019, Florida’s median property tax has surged by 47.5%.
- South Florida has been hit particularly hard:
- Miami-Dade County: Median property tax payments have risen 56.8% since 2019.
- Broward County: Taxes have increased by 56.8% over the same period.
- In 2023 alone, Broward saw an 11.4% year-over-year rise, while Miami-Dade’s property taxes grew by 9.9%.
Florida’s Unique Tax Structure
Unlike many states, Florida does not impose a personal income tax, relying heavily on sales tax and tourism revenue to fund state programs. However, with rising home insurance rates following recent hurricanes, homeowners are already feeling financial pressure. Insurify data shows that home insurance premiums rose 7% in 2024, with further increases expected.
How Florida Compares Nationally
Compared to other states, Florida’s property tax rates remain moderate. According to ATTOM, the highest effective property tax rates in 2023 were in:
- Illinois: 1.88%
- New Jersey: 1.64%
- Connecticut: 1.54%
- New York: 1.46%
- Nebraska: 1.46%
Northeastern states also had some of the highest average property tax payments, with New Jersey leading at $9,488 per year—nearly 10 times the average of $989 in West Virginia, which has the lowest property taxes in the U.S.
The Future of Property Taxes in Florida
Eliminating property taxes would be a groundbreaking shift for Florida homeowners, but it would require careful financial restructuring to maintain public services. The success of such an amendment would depend on voter approval and an alternative revenue plan.
Would you support eliminating property taxes in Florida? Share your thoughts in the comments below!
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