TALLAHASSEE, Fla. — As this year's legislative session gets underway, lawmakers are taking a close look at ways to lower property taxes.
One proposal (Senate Bill 1018) involves raising the homestead exemption from $25,000 of assessed value to $75,000.
"People are getting squeezed out of their homes just by property taxes," state Sen. Blaise Ingoglia, R-Spring Hill, said.
WPTV talked with Ingoglia in his Capitol office about his bill, which needs legislative and voter approval.
"Mine will eliminate the current homestead exemption and replace it with a brand new $75,000 homestead exemption, which is indexed for inflation every year, so in the future when your home value goes up, so does your exemption," Ingoglia said.
What isn't exactly clear is how this could affect local counties and municipalities in Florida that depend on property taxes for things like law enforcement, fire protection, education and public works.
"You will have to make up for that income somewhere else," state Sen. Lori Berman, a Democrat representing the southern portions of Palm Beach County, said. "Oftentimes, where you make up for it is something very regressive like a sales tax because the sales tax applies to everybody."
Matt Sczesny is determined every day to help you find solutions in Florida's coverage collapse. If you have a question or comment on homeowners insurance, you can reach out to him any time.
