Florida Senate meets on Property Tax reform

Senate tax bill calls for study on property tax cuts and local impact

The Florida Senate on Monday unveiled a broad tax package that includes a proposal to study the feasibility of reducing or eliminating property taxes on homestead properties.

Senate Proposed Bill 7034 directs the Office of Economic and Demographic Research to assess the fiscal impact of major property tax reforms, with a report due to lawmakers by November 1, 2025.

The study must examine how potential reductions in ad valorem taxes could affect local governments and schools, and offer policy options—including statutory and constitutional changes—to mitigate revenue loss.

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