JACKSONVILLE, FL— Today, Paul Renner for Governor announced a sweeping expansion of his “Florida First Affordability Plan,” a bold proposal designed to tackle the affordability crisis driven by skyrocketing property taxes and unchecked local government spending.
“Today is Tax Day, a day when families across this country are writing checks to the government, and Floridians deserve a path toward keeping more of what they earn and truly owning their homes,” Paul Renner said. “Affordability is the most urgent economic challenge voters face. Property taxes have skyrocketed and many Floridians are struggling to keep up. Retirees, working families, small businesses, and first-time homebuyers all need relief, and they need it now.”
“Florida is a beacon of freedom and opportunity,” Renner added. “But rapid growth has exposed serious and unsustainable affordability challenges that demand immediate action.”
Renner pointed to alarming trends in property taxation:
- Property tax revenues have surged by over 50% statewide in the past five years.
- Meanwhile, those taxes have grown twice as fast as Floridians’ incomes.
Renner’s Florida First Affordability Plan includes:
95% of Homeowners and 70% of Small Businesses Never Pay Property Taxes Again
$34 Billion in Tax Relief
- New $1 Million Homestead Exemption
- Eliminates property taxes for 94.7% of homeowners
- New $750,000 Exemption for Non-Housing Properties
- Removes 70% of small businesses from property tax rolls
- $250,000 Per-Unit Exemption for Rental Housing
- Expected to reduce rent costs significantly
Savings and DOGE Provide Foundation for Full Funding of Public Safety, Schools, and Transportation
Responsible Revenue Replacement
to ensure continued funding for public safety, education, and infrastructure, the plan introduces a balanced approach:
- Spending Reductions (Total: $19 Billion over 3–5 years)
- $4 – $8 Billion from DOGE waste and fraud reductions
- $3 – $6 Billion from Procurement Reform and Efficiencies
- $2 – $5 Billion in Education and Special District Savings
Alternative Revenues from One-Time Transaction Fees, Tourists, and Out-of-State Real Estate Speculators Carry Remaining Revenue Burden
Alternative Revenues
- $20 – $22.65 Billion from Real Estate Transaction Fees:
- 3% on homesteads
- 5% on non-homesteads
- 0% for first-time homebuyers with 2 years of Florida residency
- $2 Billion from increased Tourist “Bed Tax” Revenues
- $1.3 – $2 Billion from the closure of Corporate Income Tax loopholes (large multi-state corporations only)
- Increased millage rates for private equity and out-of-state investors buying up single family homes for rent.
Bottom Line:
- Most families and small businesses no longer pay property taxes.
- Schools, police, fire and roads fully funded with no sales tax increase.
- Alternative revenue sources focus on transaction fees mainly targeting tourists and out-of-state real estate speculators.
“The Governor has championed property tax relief, but the legislature has failed to deliver. The Florida First Affordability Plan aims to alleviate the burden for people who make their living and their home in Florida by shifting taxes to private equity, out-of-state investors. This plan protects Sunshine State residents while ensuring our economy continues to thrive.
“On this Tax Day, we are drawing a clear line between a system that takes more every year and a future where Floridians can finally keep what they earn. This is our opportunity to provide historic relief, restore fairness, and secure Florida’s future as the most affordable and free state in the nation,” Renner concluded.