Florida Homeowners Now Have a Bigger Problem than Property Taxes
Over the past year, the political debate in Florida has focused on property taxes. But voters are more concerned about insurance.
Florida voters face a dilemma as they consider a proposal that could significantly reduce property tax bills for most homeowners, despite a recent poll indicating that a majority of residents are more concerned about soaring property insurance premiums than property taxes. The University of North Florida's Public Opinion Research Lab surveyed 1,511 Florida homeowners with insurance between July 16 and July 31, revealing that 63% of respondents were more concerned about their insurance costs, compared to 36% who expressed worry about property taxes.
Notably, this preference for insurance over taxes was consistent across party lines, with 70% of Democrats and 62% of non-party or other voters favoring insurance, while 57% of Republicans prioritized property taxes.
Despite Florida lawmakers' claims of solving the state's property insurance crisis, the issue remains a pressing concern for voters heading into the November election. The average home insurance premium in Florida stands at $8,471 per year, the highest in the nation. This premium has been driven by the state's vulnerability to hurricanes, storms, and flooding, exacerbated by climate change.
Consequently, many insurers have either withdrawn from Florida or cut coverage in vulnerable areas, contributing to the premium surge. Between 2021 and 2025, home insurance premiums in Florida increased by 75%, nearly double the national average.
The situation is further complicated by the rising property taxes across the country, which have been exacerbated by the home-buying boom between 2020 and 2022. In Florida, property taxes have added to the burden of high insurance premiums, particularly for seniors on fixed incomes. Republican lawmakers, led by Governor Ron DeSantis, have proposed a constitutional amendment to drastically reduce property taxes for long-time homeowners.
However, for Florida's property taxes to be considered one of the highest in the nation, they would need to surpass the current 27th-highest effective tax rate of 0.78%.
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