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title: The End of Property Taxes in Florida?
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This week, Governor Ron DeSantis floated a proposal that would increase Florida’s homestead exemption ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­    ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­  

| DeSantis wants to eliminate property taxes for the majority of primary residents, making Florida an even better choice to live in and move to. The Florida Legislature approved a property tax amendment to go on to the November ballot referendum (where if it receives 60% of all votes or more), it would increase Florida’s homestead exemption (the portion of your home’s value shielded from property taxes), from $50,000 to $250,000 to start, and eventually to $500,000. This would eliminate property taxes for more than 92% of Florida homeowners. Florida is already one of the lowest-tax-burden states in the country. Now, it could remove the final major tax hurdle for most residents. The proposal has two stages. First, the homestead exemption jumps from $50,000 to $250,000. Then, under full implementation, it doubles to $500,000. This means a homeowner with a $400,000 primary residence could owe zero property tax under the final version.   So, who carries the tax burden? Most of the revenue will come from wealthy homeowners and part-time residents. This doesn't mean taxes increase for anyone, but rather that those who qualify as primary residents can look forward to meaningful relief and more money in their pockets every year. We’ve tracked wealth migration closely for years. The pattern is consistent: high-net-worth individuals move when the policy benefits become undeniable. Washington State recently passed a 9.9% tax on income over $1 million. New York City is proposing a 50% estate tax. California structural deficit keeps widening despite some of the highest tax rates in the country. Florida has been capturing that exodus for years. IRS data shows Florida gained $196 billion in net adjusted gross income from out-migration over the last decade alone.   While Florida offers no state income tax, or an estate tax, property taxes are still a meaningful cost for residents. Now, a primary homeowner with a $2M property can look forward to savings on that annual check.   Removing this last piece of tax friction for existing primary residents adds to savings, and removes hesitation for those looking to relocate. Net AGI gained by Florida from interstate migration over the last decade (IRS) Florida homeowners who would owe zero property tax under full implementation New businesses formed in Florida in 2024, more than any other state Condo purchases over $1M in Miami-Dade that were all-cash in 2025 (Miami REALTORS) GDP growth in Florida’s Gold Coast between 2022 and 2024 (JobsEQ) Critics of the plan aren't entirely wrong. Property taxes fund local services, from police, schools, libraries, to parks and more. For inland and lower-income counties without a luxury real estate base, the shift requires a transition.   DeSantis has addressed with a state trust fund that will backstop counties that can't close the gap on their own, ensuring the benefits of tax relief reach Floridians statewide, not just in the wealthiest markets.   For the Gold Coast, Miami-Dade, and Palm Beach have enough high-value primary homes above the exemption threshold, and enough second-home owners who don't qualify for the exemption at all, to sustain meaningful tax revenue even as the burden shifts. Ken Griffin was billed $10 million in Palm Beach County property taxes last year alone. Reducing the cost of home ownership for primary residents makes living in Florida more attractive for the middle class. This relief comes at the perfect time, as news about the rise in Miami’s cost of living continues to make headlines.   This incentive encourages part-time residents to establish Florida as their permanent domicile, a shift evidenced by the fact that 82% of condo purchases over $1M in Miami-Dade were all-cash transactions in 2025, suggesting high-net-worth individuals are moving capital permanently rather than simply purchasing vacation homes. As Florida continues to grow and expand, this DeSantis property tax plan adds to the already compelling argument of living here.   Enjoy no income or estate tax, and if the ballot goes through this November, most homeowners will also benefit from no property tax, or a discount on their existing bill. Be great, Jay Roberts CEO & Founder, Prosper Group For more market insights from experts, tune into The Long Game, episodes published weekly. Great conversations deserve a larger audience. Forward this email to someone who should be part of it. Join The Prosper Community jay@prospergroup.com (305) 712-5006 66 SW 6th St, Miami FL 33130 ABOUT \| DEVELOPMENTS \| NEWS ©2026 Prosper Group. All rights reserved Unsubscribe \| Subscription Preferences jay@prospergroup.com (305) 712-5006 66 SW 6th St, Miami FL 33130   ABOUT  \|  DEVELOPMENTS  \|  NEWS ©2026 Prosper Group. All rights reserved Unsubscribe \| Subscription Preferences View in browser |
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