Dear Neighbor,
Thanks very much for the emails, calls and face-to-face conversations about property tax reform. Finally, during a June 1-3 special session, the Senate and House will be able to debate and vote on Governor DeSantis’ proposal for reducing taxes on homestead properties.
The Governor’s plan is to gradually eliminate property taxes on 90 percent of homesteaded properties in the state.
- Initially increasing the homestead exemption limit to $250,000 and eventually rising to $500,000.
- Primary homeowners would need to have paid homestead property taxes for a period of five years before receiving reductions in order to prevent out-of-staters from taking advantage of the changes.
- The proposal targets primary residences specifically, aiming to cap value appreciation on small businesses at 5% per year while leaving the bulk of commercial and “snowbird” properties taxable at full value.
- Local governments would be required to use any remaining property tax revenues only for public safety, infrastructure, education and natural disasters.
(If you’d like to read the Governor’s proposal in its entirety, please click HERE. The underlined portions and the marked-out portions are the Governor’s new proposal)
The Governor’s proposal, which takes the form of a constitutional amendment, would require passing the Legislature by 60% during the special session and then being approved by at least 60% of voters at the 2026 general election.
I agree that there are more and different ways to reduce property taxes other than the Governor’s plan. But the fact is that neither the Senate nor the House has proposed a plan that could pass the Legislature and gain the support of the Governor and the voters.
You may agree or disagree with me but I believe that property taxes amount to renting your property from the government. If you don’t pay what the government charges, you lose your property. Property taxes are especially hard on families with fixed incomes. The soaring increase in assessed property values and, consequently, increased property taxes isn’t keeping up with pensions and Social Security, for example. While I believe that Northwest Florida local governments have been good stewards of tax dollars, the substantial increases in many local government budgets is far outpacing population growth and inflation.
Therefore, I will vote FOR Governor DeSantis’ plan when it is presented to the Senate next week. I commend Governor DeSantis for crafting a real plan to phase out property taxes. He is deploying his great political capital and the deep support he enjoys state-wide to tackle a tough issue and propose a solution benefiting millions of Florida families and small businesses.
As always, I appreciate your advice, criticism and guidance on every matter that affects your family, your business and your community. Please stay in touch by email by clicking HERE, telephone (850) 595-1036 or snail mail 418 West Garden Street, Fourth Floor, Suite 403 Pensacola, FL 32502.
Thank you for the privilege of being your voice and your advocate in the Senate. Vicky joins me in sending our very best wishes.
Respectfully,
Senator Don Gaetz
