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Homestead Exemption

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Property tax revolt widens as states rethink local funding, Florida on the ballot
politics26 days ago

Property tax revolt widens as states rethink local funding, Florida on the ballot

A wave of property tax reforms has spread across 34 states since 2020, with Florida's November ballot proposing a higher homestead exemption to $250,000 and lower caps on non-homestead assessments, a move that could force municipalities to cut services or raise rents if approved. Oviedo’s potential dissolution of its police department illustrates the local-budget pressure, as leaders warn of a domino effect on funding for police, fire, and parks. Analysts frame this as part of a broader national tax revolt that often benefits long-time homeowners over renters while prompting calls for more exemptions for vulnerable groups.

via CNN|
#florida-ballot#homestead-exemption#local-funding
DeSantis-backed property tax relief set for November vote as exemptions expand
politics1 month ago

DeSantis-backed property tax relief set for November vote as exemptions expand

Florida lawmakers approved Gov. Ron DeSantis’s sweeping property tax relief plan, sending a constitutional amendment to the November ballot that would expand the homestead exemption to $150,000 in 2027 and $250,000 in 2028 (not applying to school taxes), cap annual non-homestead assessment increases at 5%, and limit revenues for core local services. The measure could reduce non-school government revenue by about $4.6 billion initially (rising to $8.4 billion annually), prompting concerns about local service cuts, while supporters say it provides homeowner relief and lets voters decide with a 60% threshold.

via CBS News|
#ballot-measure#desantis#florida
Florida sets ballot showdown for $250K homestead tax exemption
politics1 month ago

Florida sets ballot showdown for $250K homestead tax exemption

Florida lawmakers approved a constitutional amendment during a special session to raise the owner-occupied homestead exemption to $250,000 on non-school levies, sending the measure to the November 2026 ballot. The proposal would increase the exemption over two years and requires at least 60% voter approval to pass. While supporters frame it as major property tax relief, local officials warn it could reduce revenue needed for essential services; residents can use a new Save Our Homes website to estimate potential savings.

via WPTV|
#ballot-measure#florida#homestead-exemption
DeSantis tax plan could hollow out Florida’s bedroom communities’ tax bases
local-news1 month ago

DeSantis tax plan could hollow out Florida’s bedroom communities’ tax bases

Gov. Ron DeSantis’s plan to expand the homestead exemption to $250,000 would slash local property tax revenue for central Florida bedroom communities (Belle Isle, Winter Garden, Oakland, Ocoee) by about 25%–33%, threatening budgets for core services and even bond ratings; Orlando would face a smaller hit. The phased plan starts with a $150,000 exemption in 2027, rising to $250,000 in 2028, and would limit how cities can spend tax dollars, targeting primary residences while vacation and commercial properties remain taxed. Cities are exploring options like shared services to cope with the anticipated losses.

via Orlando Sentinel|
#florida#homestead-exemption#local-governments
DeSantis proposes staged end to homestead property taxes in Florida
politics1 month ago

DeSantis proposes staged end to homestead property taxes in Florida

Gov. Ron DeSantis unveiled a plan to phase out Florida’s property taxes on homesteaded homes, starting with a ballot measure to lift the homestead exemption to $250,000 and a stepwise path to full relief. The proposal requires 60% support in both the Legislature and among voters, and DeSantis has called a special session to move it forward. While backers say non-homestead taxes could fund essential services and rural counties could receive a relief trust, critics warn the revenue loss could affect parks, libraries and other local services; Democrats call it a distraction from the property-insurance crisis, and state data shows the share of homeowners affected is contested by the EDR.

via Orlando Sentinel|
#desantis#florida#homestead-exemption
politics1 month ago

DeSantis pushes ballot-backed Florida property tax overhaul amid affordability push

Gov. Ron DeSantis unveiled a sweeping Florida property-tax overhaul that would raise the homestead exemption to $250,000 and cap annual increases on commercial property at 5%, with a five-year wait for new residents to access the larger break. If approved by voters this fall, the plan would be advanced in a special session and requires a legislative supermajority to place the amendment on the ballot and 60% voter approval to pass. The proposal could be DeSantis’ last major policy push and faces internal GOP resistance and opposition over potential losses in school funding and other local services, though he also proposes a standalone fund to help local governments maintain core services.

via Politico|
#desantis#florida#homestead-exemption
DeSantis pitches plan to virtually erase Florida property taxes for most homeowners
politics1 month ago

DeSantis pitches plan to virtually erase Florida property taxes for most homeowners

Gov. Ron DeSantis introduced a property tax proposal to raise the homestead exemption to $250,000 and eventually $500,000, aiming to eliminate property taxes for about 92% of Florida homeowners; he called lawmakers back for a special session to add a ballot amendment and set up a state trust fund to aid local governments during the transition, with passage requiring 60% legislative approval and 60% voter support in November.

via miamiherald.com|
#ballot-measure#desantis#florida
Kemp signs sweeping Georgia tax cuts with local property relief
politics2 months ago

Kemp signs sweeping Georgia tax cuts with local property relief

Georgia Gov. Brian Kemp signed HB 463 and SB 33 to overhaul taxes: cutting the income tax rate to 4.99% for 2026 with a scheduled glide to 3.99%, raising standard deductions, expanding retirement exclusions, and easing overtime/tips taxation. SB 33 blocks local governments from opting out of a statewide homestead exemption and creates a 1% Local Homestead Option Sales Tax to fund property-tax relief. Republicans say the measures bolster affordability and job growth, while critics warn about potential revenue impacts for schools and services and note constitutional challenges; a correction clarifies how the homestead cap is calculated.

via WABE|
#brian-kemp#georgia#homestead-exemption
Justice Department Investigates Fed Governor Lisa Cook Amid Fraud Allegations and Political Tensions
politics10 months ago

Justice Department Investigates Fed Governor Lisa Cook Amid Fraud Allegations and Political Tensions

Bill Pulte, head of the Federal Housing Finance Agency, accused Fed Governor Lisa Cook of fraud related to her housing claims, while his relatives, Mark and Julie Pulte, claimed primary residence exemptions on homes in Michigan and Florida, which are generally not allowed to be claimed simultaneously, leading to potential legal and tax repercussions. The Pulte family, with a prominent housing background, has a history of real estate activity and political contributions, and their dual exemption claims have raised questions about eligibility and legality.

via CNBC|
#bill-pulte#fraud-allegations#homestead-exemption
DOJ Investigates Fed Governor Lisa Cook for Mortgage Fraud
politics10 months ago

DOJ Investigates Fed Governor Lisa Cook for Mortgage Fraud

Relatives of Bill Pulte, a federal official, claimed primary residence exemptions on homes in Michigan and Florida, which is generally not allowed and led to the revocation of the exemption in Michigan. Pulte accused Fed Governor Lisa Cook of fraud related to her property claims, but she denies any wrongdoing. The case highlights potential misuse of tax exemptions and political conflicts involving Pulte and Cook.

via Yahoo News Canada|
#bill-pulte#fraud-allegations#homestead-exemption
"Record-Breaking $18 Billion Property Tax Cut Deal Reached in Texas"
politics3 years ago

"Record-Breaking $18 Billion Property Tax Cut Deal Reached in Texas"

Texas Senate and House leaders have reached an $18 billion deal for property tax relief, the largest in the state's history. The proposed legislation includes reducing the school property tax rate, providing a $100,000 homestead exemption for all homeowners, implementing a 20% circuit breaker on appraised values for non-homesteaded properties valued at $5 million and under, and offering savings on the franchise tax for small businesses. The bills will be filed this week with the goal of passing them soon. The deal comes after a months-long stalemate between the House and Senate, prompting a second special session called by Governor Greg Abbott.

via KXAN.com|
#homestead-exemption#legislation#politics
Texas Senate passes $18 billion property tax relief bill amidst political stalemate.
texas-politics3 years ago

Texas Senate passes $18 billion property tax relief bill amidst political stalemate.

The Texas Senate passed a new property tax relief bill that promises a record amount of property tax relief, providing a total of $18 billion in property tax relief. The bill increases the homestead exemption for most homeowners to $100,000 and for homeowners over 65 to $110,000, providing savings of nearly $2,600 dollars to most homeowners for the first two years and nearly $3,000 in savings for the first two years for homeowners over 65. The bill also doubles the business franchise tax exemption to nearly $2.5 million. The bill now needs to be approved by the Texas House, which has its own legislation.

via CBS News|
#business-franchise-tax#governor-abbott#homestead-exemption
Texas Senate Passes $16.5 Billion Property Tax Cut Bill
politics3 years ago

Texas Senate Passes $16.5 Billion Property Tax Cut Bill

The Texas Senate has unanimously passed a $16.5bn package to lower property taxes, which includes raising the state's homestead exemption for school districts and cutting business property taxes. The package also requires the state to funnel at least $5.38bn into public schools, which make up the biggest chunk of Texans' property tax bills. The bill would cut school property tax rates by 7 cents per every $100 in property value. The Senate proposals now head to the House, where legislators have taken a different approach to reducing property owners' tax burdens.

via The Texas Tribune|
#business-property-taxes#homestead-exemption#politics