US EditionHomeowners in these states may soon stop paying property taxes
At least five states including Florida and Georgia propose phased property tax cuts to ease burdens on homeowners while addressing local funding concerns, Realtor.com reports.
- This year, at least five states including Florida, Iowa, Indiana, North Dakota and Georgia are considering eliminating property taxes for homeowners.
- Supporters point to surplus funds and tax swaps to justify reforms, with DeSantis urging lawmakers to back a package for voters, citing fiscal excesses.
- Lawmakers have filed bills such as Florida's House Joint Resolution 203 and Indiana's HB 1288 to phase out property taxes and replace revenue with expanded sales taxes.
- Local officials warn property taxes supply crucial funding for local governments and school districts, with Leon County facing a $43 million budget cut, while a Tax Foundation analysis found sales taxes would need to rise from 7.02% to 15.34%.
- To take effect, measures must clear legislatures and secure 60% voter approval; advocates hope to place them on the November ballot as homebuilders draft nearly 1 million entry-level homes.
19 Articles
19 Articles
Property tax reform bills advance as homeowners weigh options
Property tax reform remains a top priority this legislative session, with Tallahassee homeowners closely watching as House Joint Resolution 203 moves through committees. Advocates hope to see reform measures on the November ballot.WATCH REPORT BELOW: Property tax reform bills advance as homeowners weigh options"I'll be voting with my own checkbook. It absolutely benefits me, and it makes good sense," said David West, a Tallahassee homeowner. "Wh…
These states are considering eliminating property taxes for homeowners
American taxpayers could see relief from property taxes in the future as at least five states are currently considering eliminating property taxes altogether, which could force states and localities to turn to other sources to fund key public services.An analysis by Realtor.com broke down the effort to eliminate property taxes in five states and noted that some of the proposals are more fully developed than others in terms of finding a replaceme…
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