Florida Governor Ron DeSantis joins ‘Varney & Co.’ to speak about ridding of property taxes, the state’s AI laws and subsequent yr’s midterm elections.
Florida Gov. Ron DeSantis detailed the following regulatory steps for the state’s effort to remove property taxes on main residences in Florida.
“Individuals are being pinched throughout the financial system in a variety of issues,” DeSantis stated on FOX Enterprise’ “Varney & Co.” Friday. “We’re doing superb on the state [level], however the native property taxes are hurting individuals.”
“The fact is these native governments have overspent, and individuals are paying increasingly more for that. And sooner or later it is like, when is sufficient, sufficient?”
DeSantis reiterated Friday that the purpose is to remove property taxes “fully” for homesteaded residents — a transfer that, if adopted, would make Florida the primary state within the nation to remove property taxes on main residences whereas additionally having no state earnings 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)
In line with 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 improve 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 diminished. DeSantis clarified that the tax cuts could must be phased in and 60% of voters might want to move 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 file progress in Miami’s booming financial system.
“Nearly all of our income for property tax is [from] non-Florida residents as a result of individuals have second properties … and business property. So it finally ends up being about 30% of the [total property tax] income. Now, you’ll 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 move,” DeSantis stated Friday.
The governor additionally claimed that native property tax income has risen considerably because the estimated $32 billion quantity in 2019, giving the state the flexibility to considerably improve its rainy-day fund.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
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 – 6 years you are growing budgets 50, 60%? Now, a part of it was, we did have a growth with COVID, everybody was dashing to Florida, [which] induced 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 inform you it is price 1,000,000 {dollars} and also you gotta pay extra in property tax? It is not proper.”
