TALLAHASSEE – Today, the James Madison Institute released a new report, “Property Tax Relief in Florida: Challenges, Options, and the Path to True Homeownership,” by Vance Ginn, Ph.D., and Joseph Johns, which evaluates the economic impacts of Florida’s current property tax system and outlines the various proposed reform options.
Property taxes have become a significant financial burden for Florida taxpayers, with annual collections now exceeding $55 billion. In a recent JMI Poll, 72% of Florida registered voters who were polled expressed a desire for property tax reform, either through a total elimination or limitations, highlighting the overwhelming support for change.
Key options for reform from the JMI report include:
- Incremental measures such as homestead exemptions, appraisal caps, or levy caps to provide short-term relief
- Surplus-driven buydowns with local spending caps to gradually lower millage rates
- A sales tax swap to shift school funding from property taxes
For Florida homeowners, the question is not whether property taxes should be reformed, but how far these reforms should go. If lawmakers combine fiscal discipline with solid solutions, Florida can lead the nation to provide long-lasting relief for generations.
“The James Madison Institute provides a clear roadmap for Floridians in the property tax debate. With local property taxes exceeding $55 billion a year and rising far faster than population and inflation, families are being priced out of their homes. Real reform begins with limiting spending and responsibly reducing—or even eliminating—property taxes to protect homeownership and strengthen Florida’s future.” — Vance Ginn, Ph.D., President of Ginn Economic Consulting.
“Florida’s rising property tax burden quietly undermines the very economic freedoms and opportunities that made this state a beacon for economic prosperity. Local government spending is growing unchecked, turning homeownership into a never-ending tax obligation and eroding the affordability that once defined the Sunshine State. True reform means more than short-term relief; it requires structural change. Without constitutional protections and enforceable limits that restrain government growth and protect taxpayers, any relief will be short-lived. Real reform means restoring fiscal discipline and protecting homeowners, not feeding ever-expanding government.” — Doug Wheeler, Director, George Gibbs Center for Economic Prosperity, The James Madison Institute.
