The James Madison Institute (JMI) has published a new report analyzing Florida’s property tax system and exploring possible reforms. The report, titled “Property Tax Relief in Florida: Challenges, Options, and the Path to True Homeownership,” was authored by Vance Ginn, Ph.D., and Joseph Johns.
According to the report, Florida’s property tax collections now exceed $55 billion each year. A recent poll conducted by JMI found that 72% of registered voters in Florida support some form of property tax reform, whether through complete elimination or the imposition of limitations.
The report outlines several options for reform. These include incremental steps such as increasing homestead exemptions, setting appraisal or levy caps for short-term relief, using surplus-driven buydowns with local spending caps to lower millage rates over time, and implementing a sales tax swap to fund schools instead of relying on property taxes.
Vance Ginn, Ph.D., President of Ginn Economic Consulting, stated: “The James Madison Institute provides a clear roadmap for Floridians in the property tax debate. With local property taxes exceeding $55 billion a year and rising far faster than population and inflation, families are being priced out of their homes. Real reform begins with limiting spending and responsibly reducing—or even eliminating—property taxes to protect homeownership and strengthen Florida’s future.”
Doug Wheeler, Director of the George Gibbs Center for Economic Prosperity at JMI, added: “Florida’s rising property tax burden quietly undermines the very economic freedoms and opportunities that made this state a beacon for economic prosperity. Local government spending is growing unchecked, turning homeownership into a never-ending tax obligation and eroding the affordability that once defined the Sunshine State. True reform means more than short-term relief; it requires structural change. Without constitutional protections and enforceable limits that restrain government growth and protect taxpayers, any relief will be short-lived. Real reform means restoring fiscal discipline and protecting homeowners, not feeding ever-expanding government.”
The full report is available from The James Madison Institute.
