Florida Gov. Ron DeSantis says Canadian tourists and other visitors could help offset the loss of property tax revenue if Florida voters decide in November to increase tax exemptions for homeowners who use their properties as their primary residences.
Americans will go to the polls on Nov. 3 for the midterm general elections, and Florida residents will vote on the proposed Property Tax Amendment 3 at the same time. The amendment requires approval from at least 60 percent of voters and would increase tax exemptions for qualifying Florida homeowners’ “homestead property.”
The current homestead exemption is typically US$50,000. The proposed measure, which was passed by the Florida Senate in June, would increase it to $150,000 in 2027 and to $250,000 in 2028, and also creates a framework for full exemption over time. …