Florida Governor Ron DeSantis joins ‘Varney & Co.’ to speak about ridding of property taxes, the state’s AI laws and subsequent 12 months’s midterm elections.
Florida Gov. Ron DeSantis detailed the subsequent regulatory steps for the state’s effort to eradicate property taxes on main residences in Florida.
“Individuals are being pinched throughout the financial system in loads of issues,” DeSantis mentioned on FOX Enterprise’ “Varney & Co.” Friday. “We’re doing superb on the state [level], however the native property taxes are hurting individuals.”
“The truth is these native governments have overspent, and persons are paying increasingly for that. And in some unspecified time in the future it is like, when is sufficient, sufficient?”
DeSantis reiterated Friday that the objective is to eradicate property taxes “utterly” for homesteaded residents — a transfer that, if adopted, would make Florida the primary state within the nation to eradicate property taxes on main residences whereas additionally having no state revenue tax.
A TALE OF TWO FLORIDAS: REAL ESTATE INDUSTRY TORN OVER DESANTIS’ PUSH TO ELIMINATE PROPERTY TAXES
Lawmakers are reportedly advancing a package deal of proposals within the Florida Home that embody a $500,000 homestead exemption (with a possible most of $1 million for seniors), a cap on evaluation will increase, and the choice of eliminating property taxes on homesteads altogether.
Florida Gov. Ron DeSantis speaks throughout a information convention asserting an audit of Broward County’s spending, on the FDOT District 4 workplace in Fort Lauderdale, Florida, on July 22, 2025. (Getty Photographs)
Based on the Florida Coverage Institute (FPI), property taxes generate roughly $55 billion yearly and supply round 18% of county revenues, 17% of municipal revenues, and as much as 60% of school-district funding in lots of areas. The group warns that eliminating property taxes may drive a dramatic enhance in different income sources — in some estimates, elevating the state gross sales tax from 6% to as a lot as 12%.
DeSantis’ workplace pitched the proposal in March and has since vetoed a research on property taxes that evaluates how native governments use tax income and what occurs if they’re lowered. DeSantis clarified that the tax cuts could must be phased in and 60% of voters might want to cross the proposal on the 2026 poll.
Miami Mayor Francis Suarez discusses how New York’s excessive taxes and left-wing insurance policies are driving rich residents to Florida and fueling document progress in Miami’s booming financial system.
“The vast majority of our income for property tax is [from] non-Florida residents as a result of individuals have second houses … and industrial property. So it finally ends up being about 30% of the [total property tax] income. Now, you could have to section it in; there’s gonna be issues we’re gonna do. We’re delicate to all that. I need one thing that may work, and I need one thing that may cross,” DeSantis mentioned Friday.
The governor additionally claimed that native property tax income has risen considerably for the reason that estimated $32 billion quantity in 2019, giving the state the flexibility to considerably enhance its rainy-day fund.
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Florida Gov. Ron DeSantis weighs in on key East Coast races Election Day on ‘Hannity.’
“Give it some thought – can you have got a state of affairs the place each 5 or 6 years you are rising budgets 50, 60%? Now, a part of it was, we did have a increase with COVID, everybody was dashing to Florida, [which] brought about property values to go up,” DeSantis identified.
“However how is it that you just purchase a house for $350,000 after which, 4 years later, they let you know it is price 1,000,000 {dollars} and also you gotta pay extra in property tax? It is not proper.”
