Government of Florida, Ron Desantis, said he wants to eliminate real estate tax in the state.
In a post on X, the Governor said that taxing country/property “is the more oppressive and ineffective form of tax.
“Real estate tax are local, not standing. So we have to make a constitutional amendment (requires 60% of voters to approve it) to eliminate them (which I would support) or even to reform/lower them … We must bring the most brave amendment to the mood that has a chance that 60%get … “
Although Florida’s budget usually comes from sales tax, real estate tax financing critical services such as police, fire brigade and schools.
Amir Neto, the Florida Gulf Coast University Director of the original Economic Research Institute, said ABC Action News That if the source of income is lost, you “or no longer have to stop the good, or you must come up with that income with something else.”
According to Corelogic data, the median real estate tax of 2024 in Florida was $ 3.101, an increase of 9.5% compared to the previous year and an increase of 47.5% compared to 2019. Real estate taxes in particular were raised in South Florida. The median payments of real estate tax in Miami-Dade County have risen by 56.8% since 2019 and they have risen 56.8% in neighboring Broward County. The appreciation of the home price in that period was 58.9% and 59.9% respectively.
Even in the past year, taxes were exploded for residents of South Florida, because Broward experienced a jump of 11.4% on an annual basis in median real estate tax and the rose of Miami-Dade with 9.9%.
Nationally, the highest effective real estate tax rates were in 2023 in Northeast and Midwest statements, led by Illinois (1.88%), New Jersey (1.64%), Connecticut (1.54%), New York (1.46% ) and Nebraska (1.46%), Attom reported.
Northeast States had seven of the 10 highest average real estate tax in 2023, ATOM reported. New Jersey was at the forefront of $ 9,488, which was almost 10 times the average of $ 989 in West Virginia, the state with the smallest average levy of the nation.
Due to the income from tourism, Florida has no income tax. After several expensive hurricanes in recent years, Florida’s home insurance at the highest in the nation. According to Insurify, the premiums for house insurance in 2024 increased by around 7% and they are expected to continue to rise.
