Keep Florida for Floridians and make Florida more affordable for full-time residents

Floridians are under siege. Property insurance rates have skyrocketed. Property taxes are rising. And meanwhile, out-of-state investors, hedge funds and part-time residents are profiting while the very people who call Florida home 365 days a year are being left behind.

The rental market has spiraled out of control as full-time residents of Florida are having a difficult time purchasing a home due to insanely high insurance rates and property taxes.

Since 2020, mortgage rates, homeowners insurance premiums and housing costs have surged, placing unprecedented pressure on Florida homeowners. Then, President Donald Trump got elected and interest rates are coming down. Thank you, President Trump!

It’s time to put Florida homeowners first!

That’s why we are proposing the Florida Property Tax Offset Act — a bold, commonsense solution that delivers real relief to full-time Florida residents while strengthening our housing market, holding government and the insurance companies accountable and making Florida more affordable.

How it works

If you are a full-time Florida resident and you insure your primary home in Florida, you should be rewarded — not punished — for doing the right thing.

Under our proposal, for every $1 you pay in qualified homeowners insurance premiums, you will receive a $1 reduction in your annual property tax bill, up to a cap based on your home’s value.

Example: If your insurance premium is $4,200 and your property tax bill is $5,000, you would receive a $4,200 offset and owe just $800 — plus a required minimum contribution.

Eligibility requirements

To protect against abuse and keep the focus on true residents, the following criteria apply:

— You must have established Florida residency for at least 10 years.

— You must live in the home for 12 months per year, eliminating the six month plus one day permanent residency program.

— It must be a non-revenue generating property.

— No rental, business, or short-term income use allowed (Airbnb, VRBO, etc.).

— The home may be a primary residence, retirement home or vacation home only if used exclusively for personal purposes.

— It would cap the taxed value of the home at the purchase price and there will never be an increase in the taxable value of the home.

— Vacant land is not eligible.

Why now?

Florida is at a tipping point. Homeownership is becoming unaffordable. Rising insurance premiums and rising property taxes are pricing people out of the market. Investors are buying homes to flip or rent, driving up prices and depleting inventory.

Without bold action, we risk becoming a state of short-term rentals and seasonal visitors — not thriving communities.

The Florida Property Tax Offset Act encourages homeownership, takes pressure off the rental market, and rewards long-term stability. It also keeps more spending power in the hands of Floridians, stimulates local economies, takes pressure off of the rental communities by making home ownership more affordable and can even contribute to more stable mortgage rates through consistent demand.

Florida first — not tourist first

This is about more than just taxes, it’s about our identity and our future. Do we want to be a state of revolving-door investors and short-term guests? Or do we want to protect the families, veterans, retirees and workers who live here year-round, invest in their neighborhoods, rebuild after every storm and, most importantly, contribute to the Florida economy 12 months a year?

This is a win-win for Florida residents and insurance companies. It also creates the checks and balances between the state, the consumer and the insurance companies.

The Florida Property Tax Offset Act is a smart, conservative and fiscally sound step to preserve the Florida Dream — not just for the wealthy, but for the working class, the middle class and the next generation.

Let’s reward those who live in Florida full time, spend money in Florida, and serve the great state of Florida full time — and keep Florida. This plan will ensure that our state becomes more affordable for all Floridians.

Florida can lead the nation by proving that affordability, fiscal responsibility, and homeowner protection are not mutually exclusive. The Florida Property Tax Offset Act restores balance — and puts Floridians first!

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Julio Gonzalez is the founder of the Gonzalez Family Office and CEO of Engineered Tax Services, the nation’s largest specialty tax engineering firm. Rep. Meg Weinberger is a Representative for House District 94, a wife, mother, a small-business owner and an advocate for animal welfare and affordable homeownership.