Floridians Should Think Twice Before Embracing Property Tax Elimination

Few things unite homeowners more than their shared disdain for rising property taxes.

It’s no surprise, then, that Florida Governor Ron DeSantis’s calls for state property taxA property tax is primarily levied on immovable property like land and buildings, as well as on tangible personal property that is movable, like vehicles and equipment. Property taxes are the single largest source of state and local revenue in the U.S. and help fund schools, roads, police, and other services. elimination over the last few years have gained momentum. Though full elimination of homestead property taxes seems to have been tabled for now, a constitutional amendment proposal to partially eliminate homestead property taxes will be on the general ballot this November.

Voters beware: lower property taxes may sound good, but they come with significant trade-offs.