Florida gubernatorial candidate Paul Renner (R) announced a comprehensive outline of his "Florida First Affordability Plan" to address the affordability crisis fueled by soaring property taxes and wasteful government spending while on his affordability tour in Jacksonville.
"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," 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."
Renner's "Florida First Affordability Plan," which launched on tour last week, includes the following:
- No property taxes for 95% of homeowners and 70% of small businesses.
- One-million-dollar homestead expansion, eliminating property taxes for 94.7% of homeowners.
- $750,000 exemption for non-housing properties, erasing 70% of small businesses from property tax rolls.
- $250,000 per-unit exemption for rental housing to reduce rent costs.
"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 also announced a plan to tackle excessive spending through the Savings and DOGE Provide Foundation to help fund public schools, safety, and transportation. Specifically, the plan calls for $19 bilion in spending reductions over three to five years to the following areas:
- 4 billion to 8 billion from DOGE waste and fraud reductions.
- 3 billion to 6 billion from procurement reform and efficiencies.
- 2 billion to 5 billion in education and special district savings.
In addition, Renner detailed a plan for alternative funding, including one-time transaction fees, tourists, and out-of-state real estate speculators to supplement revenue. The plan includes 20 to 22.65 billion in revenue from real estate state transaction fees, including 3% on homesteads, 5% on non-homesteads, and 0% for new homebuyers with two years of Florida residency.
It also includes a 2 billion "Bed Tax" tourist revenue, including 1.3 to 2 billion to close corporate income tax loopholes for large multi-state corporations, and in turn, upping millage rates for private equity and out-of-state investors buying single-family homes for rent.
“The Governor has championed property tax relief, but the legislature has failed to deliver," Renner said. "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."
