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Florida Legislature Proposes Last Minute Tax Changes

Florida TaxWatch says some last-minute tax issues are being proposed by state lawmakers.

Florida House Passes Big Changes to the Tourist Development Tax (TDT).

The House passed HB 1221, which would make TDTS unrelated to tourism development. The bill would turn TDT revenue into general revenue for local governments, allowing them to spend it for any purpose.

Any debt obligations or existing contracts would still be paid. Beyond that, there would be no requirement to spend any of it on its original purpose—tourism promotion. Then, starting in FY 2026-27, counties would be required to use 75% of the TDT revenue to offset property tax increases by an equal amount. All tourist development councils will be dissolved on December 31, 2025. These provisions are also in the House tax package.

Florida TaxWatch says there is a need to explore more ways to cut property taxes, but opposes this move.

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“We have historically supported using TDTs for tourism promotion, and our research has shown that elimination of funding for promotion will hurt tourism and therefore the economy.

House Wants to Create a Property Tax Exemption for New Homeowners, Homesteaders with Rental Property

The House also passed a proposed constitutional amendment (HJR 1257) that would create a property tax exemption for new homebuyers who have not received a homestead exemption in the previous four years.

The additional exemption is equal to 50% of the just value of the property, capped at the median value of homestead property in the county. The exemption is reduced by 20% each year and phased out over five years. This exemption applies only to non-school property taxes. The bill would also provide two $25,000 exemption and give Save Our Homes assessment increase protection to for any property that is under a residential lease of at least 6 months and is owned by a person who also owns a homestead property in this state. If passed, it will go to the voters in November 2026.

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