Florida Lawmakers Consider Property Tax Study, Exemption Plans

In South Dakota, lawmakers are addressing rising property values by considering a comprehensive review of property tax policies, aiming to provide both short-term relief and long-term solutions. A resolution to form a study panel of 16 legislators and two members of the governor's administration has passed both the House and Senate, signaling a commitment to explore substantive tax relief measures. Meanwhile, in Florida, Governor Ron DeSantis is advocating for property tax cuts, including proposals to expand the homestead exemption, with discussions indicating that a final proposal may not materialize until the 2026 legislative session. An economic impact study is being undertaken to assess the implications of potential tax changes, as local governments express concerns about losing critical funding for essential services. Lawmakers are cautious about the sweeping nature of proposed tax reforms, emphasizing the need for detailed evaluations to avoid adverse consequences for vulnerable populations and local services. Both states are grappling with the balancing act of reducing taxes while ensuring adequate funding for public services.