Florida Wants To Eliminate Property Taxes: How Much Could You Save by Moving There?
Written by
Gabrielle Olya
Edited by
Nicole Spector
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Property taxes in the U.S. range from 0.32% to 2.23%, depending on the state. While Florida’s property taxes are right in the middle at 0.91%, Gov. Ron DeSantis has expressed his support for getting rid of them.
“I agree that taxing land/property is the more oppressive and ineffective form of taxation,” he shared on X.
Here’s a closer look at how you can benefit from moving to a state with no property taxes, whether or not this proposal is actually realistic and the potential downsides.
Should You Move To Florida If It Eliminates Property Taxes?
Your potential property tax savings depend largely on where you are currently living, as costs range widely from state to state. In Alabama, the average annual property tax amounts to $804, while in Vermont it’s $9,120.
“Eliminating property taxes would certainly make Florida an even more attractive destination for homeowners, especially retirees and second-home owners relocating from high-tax states,” said Colton Pace, CEO at Ownwell, a platform that helps people save on property taxes.
“However, the decision to move isn’t solely about property taxes — it depends on how Florida would replace the lost revenue,” he continued. “The state would have to increase sales taxes or add an income tax.”
In his State of the State speech, DeSantis ruled out increasing any state taxes to replace property taxes and instead pushed for local governments to eliminate wasteful and excessive spending.
“Property tax and spending cuts could reduce public services,” Pace said. “These factors could offset the cost savings for some families and businesses.”
Could Property Taxes Really Be Eliminated?
While eliminating property taxes can seem appealing, this might be difficult to enact in actuality. In his X post, DeSantis noted that “property taxes are local, not state. So we’d need to do a constitutional amendment (requires 60% of voters to approve) to eliminate them.”
“To get voter approval, there would likely have to be a really strong plan in place to offset the loss in local revenue from eliminating property taxes,” Pace said.
The Cons of Eliminating Property Taxes
Right now, the average annual property tax in Florida is $6,489. While saving that amount each year could be seen as a major plus, it’s important to note the potential consequences of eliminating this tax.
“The biggest downside to eliminating property taxes is the potential impact on local government funding,” Pace said. “Property taxes are a stable revenue source that allows cities and counties to invest in public safety, schools, infrastructure and emergency services. Without them, the state would need to find alternative revenue streams.”
How To Save on Property Taxes — Without Moving To Florida
Even if Florida does end up eliminating property taxes, you don’t need to move there to save on your own tax bill. There are two primary ways property owners and homeowners can reduce their tax burdens.
“First, for homeowners, ensure you’ve applied for any qualifying homestead exemptions, including the general homestead, senior, veterans and persons with disabilities exemptions,” Pace said. “For instance, the homestead exemption reduces the home’s assessed value by $25,000 and another $25,000 from non-school related property taxes. Moreover, the Save Our Homes assessment limitation caps increases in assessed value by 3% or the rate of inflation, whichever is lower.
“For property owners, the non-homestead cap ensures that the assessment value of non-homesteaded property can’t increase by more than 10% of the previous year’s assessed value, regardless of the property’s market value.”
The second way is to appeal your property taxes.
“In [states that include] Florida, the burden of proof for over-assessment falls on the homeowner,” Pace said. “Thus, you can appeal your property taxes with the Value Adjustment Board (VAB). To get the best results, you should use a property tax appeal service, like Ownwell, which boasts an 86% win rate for customers.”
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