- Florida is considering doing away with property taxes. The move, encouraged by Republican Gov. Ron DeSantis, comes as home values rise and insurance costs soar in the state, which has been hit by several hurricanes in recent years. It’s a long shot, though, as eliminating that revenue stream would likely result in a huge spike in sales taxes.
As home prices continue to hit new heights in Florida, legislators are considering a fairly revolutionary tactic to keep the market healthy: Doing away with property taxes.
