A US state is preparing to give homeowners rebates averaging $1,000 – and aims to have the checks in the post later this year.
Lawmakers in Florida are currently evaluating plans to make sweeping changes to the state’s property tax structure.
Cash dollar banknotes and USA flag[/caption]
These changes a $500,000 homestead exemption and capping property assessment increases at 15 per cent.
Florida Governor Ron DeSantis is also pushing heavily for the complete elimination of property taxes.
A proposal announced in late March would see the $1,000 rebates paid out to Floridians in December 2025.
Governor DeSantis said: “Property taxes effectively require homeowners to pay rent to the government.
Constitutional protections for Florida homeowners require approval of the voters in 2026. In the meantime, Floridians need relief.
“I am today proposing a plan that will result in—on average—$1,000 rebate checks for each homestead as a discount on their property taxes.
“If the Legislature acts on this plan now, we can get this done this year.
“Let’s get this done for the people of Florida this session.”
DeSantis has called on the Florida Legislature to give the necessary authority for the rebates to proceed.
If his vision of eliminating property tax were realised, it would make Florida the only US region with no state income or property tax.
The governor’s office estimates that the rebate would benefit 5.1 million homesteaded properties across Florida.
However, Fox Business reports that The Florida Policy Institute says property taxes generate $55 billion annually.
They make up for 18 per cent of county revenues, 17 per cent of municipal revenues and up to 60 per cent of public education funds according to the Institute.
It estimated that the state’s sales tax may need to rise from 6 per cent to 12 per cent as a result.
Budge Huskey, president and CEO of Premier Sotheby’s International Realty, told Fox News Digital: “I am a native Floridian, and I believe that we have created an environment which is among the best in the entire country as far as the balance of business-friendly and lifestyle, and it is imperative that we maintain that advantage that we have.
“But at the same time, it has to be responsible, and it has to be based on real numbers.”
