Florida Governor Ron DeSantisHe warned of his intentions Abolition of real estate taxes in the state In early 2025. A recent analysis revealed how this measure could affect Housing prices, which would rise in the market and affect renters And potential first-time buyers.
Last February, the state leader announced his intention to do so Eliminate estate taxes in Florida For homeowners, which would require a constitutional amendment approved by 60% of voters. A report warned That unit prices will rise significantly in its implementation.
currently, Real estate taxes In the Sunshine State, they are administered at the local level and used to fund services such as education, security and infrastructure maintenance.
“If property taxes on occupied homes were completely eliminated Owners in FloridaReal estate values in the country It will immediately rise between 7% and 9%He warned his investigation Realtor.com.
For her part, DeSantis He explained in detail the reasons that prompted him to implement this procedure In the region. He said last May, in statements highlighted by the aforementioned media, that “owning private real estate should not mean paying permanent rent to the government.”
In this sense, the Republican insisted that these costs would be represented An “unnecessary burden” on working families He decided that his administration would address the “root problem” in an announcement in February 2025.
The platform report acknowledged that the rule, if approved, the Republican leader intends to implement it Existing homeowners will benefit. But Joel Berner, the site’s economist, pointed out:It would make access to the property more difficult Due to high prices.
“This measure will be a huge help to homeowners, but it will disproportionately benefit wealthy Floridians,” the specialist explained. At the expense of those who do not have housing“.
The Sunshine State is one of the most expensive places to live in the United States in 2025, and compared to 2019, Property values 42% increase Last October, according to the data I provided Realtor.com. Although a 3% decrease in prices was also recorded compared to 2022.
in general, The average price of homes for sale in Florida is about $425,000while one of the factors that can cause the most expenses for owners are insurance premiums.
The state of risk in the face of disasters and natural disasters in the State of the Sun is one of the incentives that stimulate the increase in housing prices and taxes, since they can cause significant damage to property.