Florida Senate Passes Property Tax Cut Proposal
Florida voters will decide on a property tax amendment this November after the Senate approved a plan to exempt up to 250,000 dollars of homestead value from non-school levies. The measure also reduces annual assessment caps for non-homestead properties from 10 percent to 5 percent starting in 2027.
Florida lawmakers passed a resolution on Tuesday afternoon to expand homestead property tax exemptions by up to $250,000 for Florida residents. The 30-9 Senate vote follows a similar House proposal backed by Ron DeSantis. This measure aims to provide direct relief to homeowners while restructuring local government revenue streams.
