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[quote=Anonymous][quote=Anonymous]This makes no sense. Florida does not have income taxes and property taxes account for 30% of local tax revenue in Florida. Even if they only exempt homestead properties, there are counties that could lose up to 20% of their tax revenue overnight. This policy also risks the credit rating of local governments and could drive up the cost of financing for local government projects. I'm doubtful that this measure will pass because notoriously red North Dakota voted down a constitutional amendment to repeal property taxes by a 27 point margin recently. [/quote]

Floridian here. Property tax revenues have jumped significantly (think, almost doubled) in the past few years as property values increased due to the influx of people moving here during and after COVID. The local governments here do not need that much money. It’s obscene how much they are wasting just because they have it. And yes, the proposal would only apply to homestead properties, not vacation homes or commercial properties, so there would still be enough money coming in. They just can’t set it on fire the way they’re been doing lately.[/quote]

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