Homeowner Savings
- One-Time $1,000 Rebate
- Every homesteaded homeowner would receive a $1,000 check, directly reducing their 2025 tax outlay by that amount Florida Governor’s Office.
- Annual Property-Tax Elimination
- Florida’s average effective property-tax rate on owner-occupied homes is 0.79% of assessed value AARP States.
- With the median Florida home valued at $333,300, the average homeowner currently pays about $2,787per year in property taxes Palm Paradise Realty.
- Abolishing property taxes would save the typical homeowner $2,787 annually thereafter.
- Rising Tax Bills Accelerate Savings
- Property-tax bills have climbed from $2,226 in 2019 to $3,003 in 2023—a 35% increase Axios.
- Eliminating property taxes would lock in savings of $3,003 per year for the median homeowner based on the 2023 figure.
Business Owner Savings
- Commercial Property-Tax Rate
- Florida’s overall effective property-tax rate is 0.74% of a property’s assessed value Tax Foundation.
- This rate applies to commercial real estate, including office buildings, retail spaces, and warehouses.
- Example Savings Scenarios
- Small‐Business Owner
- If a small business occupies a building assessed at $250,000, eliminating property taxes would save $1,850 per year (0.74% × $250,000).
- Mid-Sized Commercial Property
- For a $500,000 property, the annual savings would be $3,700.
- Larger Investments
- A $1 million commercial property would free up $7,400 annually under the proposal.
- Small‐Business Owner
- One-Time Homestead Rebate Exclusion
- Note that the $1,000 rebate applies only to homesteaded (primary residence) properties; commercial properties themselves would not receive the rebate but would benefit fully from the ongoing tax elimination.
Aggregate Impact
- Statewide Homeowner Impact
- Over 5.1 million homesteaded properties would each receive an immediate $1,000 rebate in 2025—injecting over $5 billion directly into Florida households Florida Governor’s Office.
- Long term, homeowners collectively would save more than $14 billion per year (5.1 million × $2,787) once property taxes are fully abolished.
- Business Community Benefits
- Florida businesses hold roughly $2.9 trillion in taxable property value; at a 0.74% rate, full elimination translates to approximately $21.5 billion in annual savings for the commercial sector Florida Department of Revenue.
Substantial financial benefit
Under Gov. DeSantis’ proposal, Florida homeowners would see an immediate $1,000 rebate in 2025 and eliminate an average of $2,787 in annual property taxes thereafter. Business owners stand to save 0.74% of their property’s assessed value each year—translating to thousands of dollars in reduced overhead for small and large enterprises alike. This combination of direct rebates and ongoing tax elimination represents a substantial financial benefit for Florida’s residents and business community.
