Florida Lawmakers Propose Study on Property Tax Elimination

Florida lawmakers are considering a proposal to study the elimination of property taxes, introduced by Senator Jonathan Martin through Senate Bill 852 (SB 852). The bill directs the Office of Economic and Demographic Research to assess the potential impacts of abolishing property taxes and replacing the revenue with budget cuts and consumption-based taxes. Governor Ron DeSantis has expressed support for the initiative, stating that property taxes are an oppressive form of taxation and suggesting that a constitutional amendment would be necessary for any changes. The study will evaluate effects on public services, the housing market, and Florida's business attractiveness. Reports on the study's findings are expected by October 1, and if approved, the proposal could take effect on July 1. The push for this legislation highlights ongoing discussions about tax reform in Florida and its implications for state funding.