WEST PALM BEACH, Fla. — Florida lawmakers are advancing three bills aimed at providing property tax relief to homeowners, though critics warn the measures could create significant budget shortfalls for local governments.
The proposals come as homeowners across the state struggle with rising property taxes and insurance costs.
Lisa Riggi, a Coral Springs homeowner, told WPTV last week she's paying $12,000 annually for both property taxes and insurance combined, prompting her to plan on moving.
WATCH BELOW: Florida property tax relief bills advance in legislature
Lawmakers have shifted focus from insurance reform to property tax relief.
The three bills have not yet been scheduled for a House vote, and they would also need to clear the Senate and then pass as referendums with voters in November.
- House Bill 203 would phase out homestead taxes over 10 years, excluding school taxes.
- House Bill 209 would raise the homestead exemption for homeowners who carry insurance
- House Bill 213 would limit property assessment increases
Republicans have pointed out the growth of revenue from local taxes over the last several years and want to offer relief to homeowners.
Democrats have countered that cutting or eliminating property taxes would result in cuts in services and increases in other taxes and fees.
However, the Florida Policy Institute analyzed the potential impact using state data and found the bills could create substantial budget gaps for local governments.
"Right now, all of these are blanket solutions; they do not pay attention to income, they do not pay attention to homeowners' circumstances, they do not pay attention to renters," said Esteban Santis with the Florida Policy Institute.
Using state data, the Florida Policy Institute found the following:
HJR 203 would cost the following counties annually:
- Palm Beach County: $1.28 billion
- Martin County: $161 million
- St. Lucie County: $288 million
- Indian River County: $115 million
- Okeechobee County: $9 million
The impact of HJR 209 annually:
- Palm Beach County: $730 million
- Martin County: $91 million
- St. Lucie County: $210 million
- Indian River County: $72 million
- Okeechobee County: $8 million
The impact of HJR 213 annually:
- Palm Beach County: $547 million
- Martin County: $43 million
- St. Lucie County: $80 million
- Indian River County: $27 million
- Okeechobee County: $5 million
"Sure, it looks like savings on the front end, but now to maintain those budgets, you either have to increase fees, increase other taxes, sales taxes you may want to look at," Santis said.
If approved by the legislature, any of these bills would still require voter approval in the fall election.
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Matt Sczesny is determined every day to help you find solutions in Florida's coverage collapse. If you have a question or comment on homeowners insurance, you can reach out to him any time.
