r/economy • u/WTFPilot • 10h ago

No More Property Taxes? Florida’s Sweeping Plan Sparks Panic Among Local Governments

https://centralflorida.substack.com/i/200063978/no-more-property-taxes-floridas-sweeping-plan-sparks-panic-among-local-governments
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u/Ketaskooter 10h ago

Florida may soon become a state where you can afford to own property but can't afford to insure said property or afford to live. The most obvious tax change that will be needed to cover this reduction in tax revenue is higher sales taxes.

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u/Grimnir001 3h ago

This is the trajectory of red states. Cur income tax to almost nothing and then go after property taxes. In my state, Republican gubernatorial candidates are pushing slashing of property taxes.

How will the state make up for the revenue shortfall? Higher fees and sales taxes? Or will it just defund state services? Whatever the answer, the hammer is gong to fall hardest on the most vulnerable.

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u/RockieK 2h ago

Oh ask California how Prop 13 is working out!

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u/V_Doan 2h ago

It’s working fine for us who bought a few years ago