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Florida Governor Calls For Special Session To Eliminate Property Tax For Homeowners
Authored by Jacki Thrapp via The Epoch Times,
Florida Gov. Ron DeSantis on May 27 called for a special legislative session to pass his plan to exempt homeowners from paying property taxes on their permanent residence.
The Republican governor revealed his plans to sign a proclamation that would require state lawmakers to convene in Tallahassee and discuss his “Save Our Homes” proposal starting on June 1.
“Taxing something that you own repeatedly, which is a property tax, is the worst way to do taxation,” DeSantis said in a news conference on May 27.
DeSantis said he hopes that eliminating taxes from Florida homesteads could be a bipartisan effort.
“You pay all these taxes to acquire that property, and then year after year, you’re just having to write a check just for the privilege of being able to maintain ownership of something that is supposedly yours,” he said.
The proposal contemplates phasing in the exemption and creating a state trust fund to compensate local governments for lost revenue. Because the measure would involve a change to the Florida Constitution, if it passes the state Senate and state House, which are both Republican-controlled, it would need to be approved by voters in November.
Property tax revenue collected by local governments in the Sunshine State has nearly doubled in seven years, to $60 billion from $32 billion, according to the governor’s office.
DeSantis wants to make local governments use property taxes only for core public needs such as public safety, education, infrastructure, and natural resources.
The proposal would require new Florida residents to maintain residency for up to five years before they can receive the homestead exemption.
The proclamation comes as the term-limited Republican nears the end of his term as governor, set for Jan. 5, 2027.
“I want to make sure people can go and vote for something, and then see something that’s going to be very, very meaningful in their lives, and the way to do that is to focus on the homestead property owners,” he said.
Florida House Democratic Leader Fentrice Driskell warned that eliminating property taxes would have “devastating consequences” for county budgets.
“We’re open to solutions that create affordability but not at the expense of working families, our small businesses and local governments who rely on property taxes to repair roads, provide public safety through law enforcement and police department and fire to maintain beautiful parks and support our schools and so much more,” she said.
Driskell suggested that the governor’s focus on eliminating property taxes was a “distraction” from the state’s skyrocketing property insurance rates, as well as grocery and gas prices.
The Miami-Dade Democratic Party previously warned in November 2025 that eliminating homestead property taxes could cause budget shortfalls, which could result in local governments raising the sales tax to make up for lost funds.
By contrast, the proposal was welcomed by state Sen. Ben Albritton, a Republican, who urged his peers to act quickly.
“All Senators are encouraged to watch this meeting and to be prepared for the Floor on Tuesday and, if necessary, Wednesday,” Albritton wrote in a memorandum on May 27.
The Epoch Times contacted the Florida Senate Democratic Caucus for comment but did not hear back by time of publication.
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Stellar 7 Year Auction Sees 3rd Highest Foreign Award On Record
In the week's final coupon auction, the US Treasury sold $44 billion in 7 Year notes to stellar demand.
Extending on the strength yesterday's solid (if tailing) 5 Year auction, today's 7 Year sale printed at a high yield of 4.290%, up from 4.175% and the highest since Jan 2025. It also stopped through the When Issued 4.291% by 0.1bps, the first stop through since December 2025.
The bid to cover was 2.518, up from 2.513 and the highest since July 2025; it was obviously higher than the six-auction average of 2.478.
The internals were stellar, with Indirects surging from April's los 58.35% to a stunning 78.39%, the 3rd highest indirect award on record!
Naturally, for Indirects to soar this much, one of the other two categories had to drop, and sure enough Directs plunged from 30.01% to 11.19%, the lowest since December 2024. Dealers were left largely unchanged at 10.42%, down from 11.64%.
Overall, this was a fitting close to a solid week for Treasury auctions, as today's 7Y auction was an absolutely blockbuster, with all metrics stronger but it was the surge in foreign demand that was the showstopper. It appears that EMs are no longer dumping US paper - which they did in record mounts in March and April - to fund oil purchases and to prevent their currencies from crashing.
Tyler Durden Thu, 05/28/2026 - 13:22