Floridians may be in for summertime tax savings. Gov. Ron DeSantis’ 2025-2026 budget proposal includes several tax holidays, funding for disaster prevention, and a one-time mortgage tax exemption.
“Florida’s steadfast commitment to fiscal conservatism is why we are in such good financial shape,” DeSantis said in a press release. “Florida has experienced historic success by keeping government spending low while balancing significant investments in meaningful initiatives.”
But in particular, there’s talk of the governor’s “Second Amendment sales tax holiday," which would exempt the sale of guns and ammunition from state sales taxes.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Here’s more of what you need to know.
DeSantis tax holidays in Florida
DeSantis’ 2025-2026 budget proposal includes several Florida tax holidays:
- Renewal of the 14-day Back to School sales tax holiday on school supplies, clothing, and computers.
- Renewal of two 14-day disaster preparedness sales tax holidays on hurricane supplies.
- One one-month “Freedom Summer” sales tax holiday on outdoor recreation items (akin to “Freedom Month”).
- Renewal of the seven-day “Tool Time” sales tax holiday on skilled worker tools.
- A new two-month boating fuel tax holiday on some motor fuel taxes.
- A new “Second Amendment” tax holiday on guns and gun accessories (more on that below).
The combined total savings from these holidays and other relief for Florida families is expected to be $2.2 billion.
DeSantis gun tax holiday?
One of the more contentious proposals that has raised brows is the “Second Amendment” sales tax holiday.
This proposed holiday would make the sale of ammunition, firearms, and other accessories state sales tax-free for a period in the summer, from Memorial Day to the Fourth of July.
However, the Second Amendment sales tax holiday has caused some to speculate whether the proposal could encourage more frequent unregistered gun use, instead of maintaining focus on gun safety. Data show that Florida may have the highest number of guns of any state in the country, second to Texas.
But the “gun tax holiday" is not new. Louisiana and Mississippi have already enacted firearm sales tax holidays, exempting items like hunting equipment, firearms, ammunition, and gun accessories from state sales taxes. Meanwhile, California has recently doubled its gun and ammunition tax in the state.
In response to a press question regarding potential backlash on the tax holiday, DeSantis remarked, “I think this is going to be wildly popular. Why would they [state legislature] want to fight back on that? This is something their voters would expect them to support.”
Florida home program and DeSantis tax exemption
Florida is no stranger to hurricanes, cyclones, and storms. The My Safe Florida Home Program is just one way Floridian homeowners can help protect their homes against hurricanes. And for those wanting to take action against disaster prevention, there is additional funding in DeSantis’ proposal:
- $480 million in funds for 45,000 homeowners still waiting to apply for a grant under the My Safe Florida Home Program.
- $109 million for 10,000 new inspections and grants under the My Safe Florida Home Program.
Also, Florida homebuyers may expect some tax relief as well. DeSantis’ bill includes a one-year exemption on “intangible tax” on mortgages up to $500,000 in Florida (intangible taxes are a one-time payment on a home purchase).
Currently, Floridian homebuyers pay $2 for every $1,000 in mortgage value.
Under the proposal, the estimated total savings for Florida residents is $170 million and would apply to those eligible in the current year.
But these budget items, along with all others, still need to be approved by the state legislature. The regular session begins on March 4. Stay tuned.
Related Content
-
Stock Market Today: Stocks Swing Higher on Powell SpeechInvestors cheered after Fed Chair Powell repeated his confidence in the strength of the U.S. economy.
-
Mixed Jobs Report Offers Relief for Now: What the Experts Are SayingThe February employment figures were rough around the edges but largely met expectations.
-
Why Abolishing Florida Property Taxes is ProblematicProperty Taxes A bold proposal that aims to eliminate property taxes in the Sunshine State has roused concerns from economists, and rightly so.
-
Trump’s Trade War Targets Your GroceriesTariffs A trade spat is unraveling with the United States' top trading partners, and it will likely affect you at the grocery store.
-
New Jersey Property Tax Relief Could Break RecordState Tax If Gov. Murphy’s budget is approved, some New Jersey residents may see their state property taxes cut in half.
-
Idaho Tax Credit Subsidizing Private School is Law: What You Need to KnowState Tax The state passed its first tax credit to help K-12 parents recover private and homeschooling education expenses.
-
Five Scary Things the IRS Can Do If You Owe Back TaxesTax Law Traveling in 2025? The IRS can take your passport (and house) if you don’t pay your tax bill.
-
Trump’s Plan to Eliminate Taxes on Social Security Forgets Your ChildrenSocial Security A new analysis reveals that the policy change would mainly benefit high-earning retirees or those close to retirement.
-
Kentucky Has a New 2025 Income Tax Rate: What to KnowState Tax Cuts to Kentucky income taxes come amid a tax refund delay. What it all means for you.
-
New Iowa Income Tax Rate for 2025: What It Means for YouState Tax A new tax law lands Iowa among the top ten states with the lowest income tax rates.
