TAMPA, Fla. — Memphis-native Nathalia Steffanetta and her family relocated to Seminole Heights six years ago, intending to make it their forever home.

However, Steffanetta says that rising property taxes have posed challenges.

“It’s really sad how everything is getting so crazy financially. My husband and I have very good jobs, and what are we supposed to do?” she said.

What You Need To Know

  • A bill proposing the study of the benefits of cancelling property taxes has returned to the legislature for a second time

  • It's a controversial topic, as property taxes are a crucial funding source for local government services, schools, and infrastructure

  • A Florida Policy Institute Analyst says much of the property tax revenue will have to come from somewhere else, but Gov. Ron DeSantis says he will not sign any tax increases

  • A constitutional amendment requiring approval from 60% of voters is necessary to eliminate property taxes

It’s an issue currently under discussion by the Florida Legislature.

Senate Bill 852 proposes a study on eliminating property taxes, an endeavor that Gov. Ron DeSantis put his support behind in his State of the State address in March.

“You buy a home, you pay off the mortgage, and yet you still have to write a check to the government every year just for the privilege of living on your own private property,” said DeSantis in his address. “Is the property yours, or are you just renting it from the government?”

It’s a controversial topic, as property taxes are a crucial funding source for local government services, schools, and infrastructure.

According to the Florida Policy Institute, Florida’s total property tax revenue exceeds $42 billion.

“Nothing is necessarily free. You cut property taxes. You only really have sales taxes and some other options. But remember, we don’t have an income tax here. And then we would become the first state to get rid of property taxes,” said Florida Policy Institute analyst Estaban Santis.

Santis says that revenue will need to come from another source.

“When you look at public budgets, we have to have balance. So (if) you cut taxes in one place, you’re going to have to either raise taxes elsewhere or cut services.”

But according to Florida’s governor, that won’t happen.

“This governor will not sign any tax increases,” said DeSantis.

The Florida Policy Institute recommends various tax relief measures, including exemptions, credits, and reduced rates, to establish a fairer property tax system for homeowners.

Steffanetta welcomes any relief that will close the gap in homeownership not just for her generation but also the one coming behind her.

“I feel like there’s so much talk right now with people saying they will never own a home,” said Steffanetta.

A constitutional amendment requiring approval from 60% of voters is necessary to eliminate property taxes.