Florida Gov. Ron DeSantis and Republican leaders in the state are calling for the elimination of property taxes in the name of housing affordability. State leaders and policy experts are discussing whether nixing property taxes would improve the cost-of-living for Floridians. Existing exemptions, like the Homestead Exemption and Save Our Homes Benefit, reduce the taxable value of owner-occupied homes and cap the annual increase in assessed value at 3 percent.
While this system was created to keep homeownership affordable in communities where property values are increasing, there’s been criticism that it’s not working for first-time homebuyers. Florida law requires appraisers to remove exemptions and reassess property value when homes change ownership. An analysis by the Florida Policy Institute found that real property taxes, which include all real estate, account for 18 percent of county revenue, 17 percent of municipal revenue, and 50 to 60 percent of school district revenue. An analysis by the Florida Policy Institute shows that Florida would have to double its sales tax to 12 percent, which would be the highest rate in the nation, to replace lost property tax revenue.
Mortgage Rates
Move Down
Mortgage rates decreased for the second straight week, emerging from the Thanksgiving holiday. Compared to this time last year, mortgage rates are half a percent lower, creating a more favorable environment for homebuyers and homeowners.
The 30-year fixed-rate mortgage averaged 6.19% as of December 4, 2025, down from last week when it averaged 6.23%. A year ago at this time, the 30-year FRM averaged 6.69%.
The 15-year fixed-rate mortgage averaged 5.44%, down from last week when it averaged 5.51%. A year ago at this time, the 15-year FRM averaged 5.96%.
