The “sunshine state” might use tax income, which is generally used to promote tourism, to pay refunds to millions of eligible people. It is currently only an idea, but if passed, it may become law.

HB 7033, presented in the Florida legislature in 2025, proposes redirecting tourism development tax money to municipal initiatives or property tax rebates. Currently, these money are used to promote tourism, maintain infrastructure like Raymond James Stadium, and conserve beaches. Republicans support the effort, but its potential economic impact is being debated.

Florida HB 7033 proposes $150 million tax rebates in 2025

HB 7033, which was passed by the House Budget Committee on April 22, 2025, now moves on to the next reading. According to the legislative schedule, it must be voted on by both chambers by May 2, 2025 to become law.

If enacted, it would take effect on July 1, 2025, changing the allocation of $150 million collected yearly in places like Tampa Bay. The legislation, sponsored by Rep. Monique Miller (R-Palm Bay), would allow counties to use up to 50% of hotel tax income for tax breaks or infrastructure. These funds sustain 33% of hospitality jobs in Tampa Bay and 15.4 million yearly visitors, according to data for 2024.

Following committee approval, HB 7033 is set for debate on the Special Orders Calendar on April 25. Its survival is dependent on negotiations between chambers, where Republicans hold a slender majority. Representatives such as Wyman Duggan (R) believe the proposal could be transitory, however the current text does not indicate a timeframe.

Are tax refunds with Florida funds a good or terrible idea?

Tourism groups, such as Destinations Florida, say that the move will diminish the state’s promotion, harming 2 million employment in the sector. Robert Skrob, the organization’s executive director, referred to the idea as “economic sabotage,” noting Colorado’s experience in the 1990s, when similar cuts resulted in annual losses of $2 billion.

The Florida Shore and Beach Preservation Association cautions about potential cuts to beach restoration programs, which are critical for tourism. According to the Amelia Island Convention & Visitors Bureau, this sector employs 36% of the workforce in Nassau County. Without financing, sites such as Clearwater Beach may experience increased erosion and decreasing attendance.

Representatives such as Linda Chaney (R-St. Pete Beach) favour lowering property taxes, a demand that constituents have made for more than three decades. In counties like Hillsborough, these taxes earn approximately $1.5 billion per year. Returning $150 million is viewed as a modest yet important relief for residents.

Some tax exemptions that Floridians enjoyed in the past

In Florida, property owners have had an intriguing chance on multiple occasions: if they pay their property taxes early, they can earn a significant reduction. For example, if you pay up your debts before the end of November, the county may forgive you up to 4% of the total. It’s like a reward for meeting your responsibilities on time, and it relieves some of your financial burden.

Many people are unaware of this traditional benefit. If you use your house as your primary residence year-round, you do more than just live there; you could save up to $50,000 on the valuation used by the government to compute your taxes. It’s not that they’ll give you money back, but you’ll notice that your annual bill is drastically decreased. Of course, you must meet the fundamental requirements: show that you actually reside there and that it is not a vacation or investment property.

Has it ever occurred to you that when you check your home’s assessment, you feel like they exaggerated the price as if it were a mansion? You’re not alone. If you believe they overvalued your property, you have the right to contest the decision. The process entails supplying documentation, which ranges from images of the property’s condition to comparisons with recent transactions in your area. If you win, they will not only alter the figure for the future; they will also reimburse the amount you overpaid since the error occurred. Simply be prepared for some documentation and potentially technical discussions with the evaluators.