patrick.net

Interestingly, Colorado. Worse than Florida that got mindblowing way out of hand and still has a ways to go as we enter the Boomexit phase and deportations ramp up.

(this is a forecast for next year, based on recent trends)

I would say the Florida TOURISM market is strong, at least by numbers, with a record 34M+ visiting the state.

Rents are collapsing as well. Massive amounts of apartments were built in much of the state.

Countless older Condo buildings on Fannie's blacklist.

Welcome to the permanent plateau of the next decade or so:

Not sure what lead Florida to go for considering a plan to eliminate property taxes on primary residences!

In my opinion this proposal is as terrible as California 1978 Prop 13, it will have long term consequences and bad for young and all future generations.

AI summary:

Yes, economists and real estate analysts widely agree that eliminating property taxes in Florida would increase property values due to a concept known as tax capitalization.

Expected Impact on Property Values

Overall Increase: An analysis by Realtor.com estimates that a complete elimination of property taxes on owner-occupied homes could lead to an immediate jump in statewide property values by 7% to 9%.
Partial Elimination: If only the non-school portion of property taxes is eliminated (as proposed in some House bills), property values would still increase by an estimated 4% to 5.5%.
Why Values Would Rise

Lower Ownership Costs: Property values are tied to the long-term cost of ownership. By removing or significantly reducing this major ongoing expense, buyers can afford to pay more upfront for a home, pushing sale prices higher.

Increased Demand: Lower ongoing costs would attract more buyers, both in-state and from out of state, increasing overall demand for housing and further driving up prices.
Capitalization: In real estate economics, property taxes are "capitalized" into the home's value. Higher property taxes tend to lower a property's market price, while lower or eliminated taxes raise it.

Potential Consequences

While current homeowners would see an immediate gain in equity, experts warn of potential negative consequences:

Affordability Crisis: The price surge would make it significantly harder for first-time homebuyers and younger families to enter the market.

Burden on Renters: To make up for lost local government revenue, other taxes (such as sales or corporate income taxes) might be raised, and landlords of commercial and rental properties would likely pass their continued tax burden onto tenants through higher rents.

The proposals are currently being debated in the Florida Legislature and would require voter approval in the November 2026 election to become law.

The question should be "Why Stop There?"

Why not go full retard and have negative property taxes ???

That would certainly boost up property prices. Sure, some millennials and Gen Z'ers would bitch, but really they are headed for 3rd world status anyways. Then quintuple fees for developers (make them comparable to California). That would give an added boost to property prices.

Then blame those that complain for being lazy.

What could go wrong ???

Noncitizens are not allowed to own landed homes (aka SFH) in some countries while others do allow ownership at much higher tax rates, by law. What would be the pros and cons of this law here ?