Florida Residents Could Soon Get Property Tax Relief

Florida is evaluating ways to reduce rising property-tax bills, with options under review such as expanding transfer (“portability”) of existing homestead savings, raising the homestead exemption (ideas have ranged from $75,000 to $100,000), offering limited rebates, and—even more controversially—phasing out property taxes entirely; because those cuts would require replacement revenue, funding ideas discussed include redirecting the tourism “bed tax” or increasing the state sales tax (analysts note it would need to roughly double to fill the gap), and the working timeline targets a formal proposal by November–December 2025 that could go to voters on the November 2026. For more information click here.