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Homestead Exemption

All articles tagged with #homestead exemption

politics2 days ago•6 min saved

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

politics2 days ago•6 min saved

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

politics2 days ago•4 min saved

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

politics18 days ago•3 min saved

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

politics6 months ago•2 min saved

Texas voters approve property tax breaks and key amendments in 2025 election

Texas voters approved measures to increase the homestead exemption from $100,000 to $140,000, providing property tax relief to homeowners, especially seniors and disabled residents, and also approved an exemption for business inventory, aiming to reduce overall property tax burdens in the state.

via The Texas Tribune|

#homestead-exemption #politics #property-tax

politics8 months ago•7 min saved

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

Bill Pulte, a federal official, and his relatives are accused of improperly claiming primary residence exemptions on multiple homes in Michigan and Florida, leading to investigations and potential penalties, amid broader allegations of fraud against Federal Reserve governor Lisa Cook.

via HuffPost|

#bill-pulte #fraud-allegations #homestead-exemption

politics8 months ago•6 min saved

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

politics8 months ago•6 min saved

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

politics2 years ago•2 min saved

"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-politics2 years ago•3 min saved

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

politics3 years ago•7 min saved

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