DeSantis calls for special session on constitutional amendment to increase homestead exemption on property taxes

Governor Ron DeSantis announced he is calling for a special session of the Florida Legislature during the week of June 1 to consider a constitutional amendment that would raise the homestead exemption for property taxes for up to $250,000 of the property’s assessed value.

The current homestead property tax exemption is up to $50,000 for homeowners.

“Today in Tampa, I outlined the Save Our Homes from Excessive Property Taxes plan that will eliminate taxes on homesteads,” said Governor Ron DeSantis in a statement sent out by his press office. “Property tax revenue collected by local governments has nearly doubled in the past seven years and is expected to reach an astounding $83 billion by 2032. Florida homeowners need relief. Now is the time to stand up for taxpayers, enact a historic reform, and save the home of every Floridian.”

Property tax revenue collected by local governments has nearly doubled in the past seven years (from $32 billion to $60 billion) and is expected to reach an astounding $83 billion by 2032. Much of that increase is due to new homes and businesses in Florida as the state’s population has increased.

As proposed by Governor DeSantis, the new amendment to the Constitution would exemot the first $250,000 of a homestead’s value from taxation and requiring, through law, a schedule for full elimination.

The proposal would require local governments to use remaining property taxes solely for core public needs including public safety, education and schools, infrastructure, and natural resources.

Desantis also wants to place limits on future property tax assessments on businesses.

The Governor also wants homeowners to prove residency of up to five years prior to receiving the property tax exemption.

Requires any person who establishes Florida residency after January 1, 2027, to maintain Florida residency for up to five years prior to receiving the increased homestead exemption.

The proposal is receiving backlash from local governments whose services could face massive reductions if the proposal is approved by voters.

DeSantis said he wants to establishes a trust fund to provide grants to local governments to assist with the continuation of core local services.

The proposed amendment to the Constitution, if ratified by the Republican-controlled state legislature, would need to go in front of state voters for a referendum for their approval.

Under Florida’s Constitution, any Constitutional amendment must be approved by 60% of the voters to become law.