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SB 552

Prohibition on Levying Ad Valorem Taxes on Tangible Personal Property

2026 Regular Session Introduced by Mack Bernard and 1 co-sponsor

SB 552 eliminates Florida's ad valorem taxes on tangible personal property, removing a major revenue source for local governments and schools without specified replacement funding.

Died in Finance and Tax
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WeVote Research Nonpartisan
Bill Summary · SB 552

Legislative bill overview

SB 552 would prohibit Florida from levying ad valorem (property value-based) taxes on tangible personal property, effectively eliminating this tax category at the state and local level. The bill represents a significant shift in how personal property—such as equipment, inventory, and machinery—is taxed across the state.

Why is this important

Ad valorem taxes on tangible personal property currently generate substantial revenue for local governments, schools, and special districts. Eliminating this tax source would require either replacement revenue mechanisms or significant reductions in public services, affecting school funding, infrastructure maintenance, and local government operations. The shift would also change the tax burden distribution between property owners, businesses, and other taxpayers.

Potential points of contention

  • Revenue replacement: No identified funding mechanism to offset lost tax revenue from schools, counties, municipalities, and special districts
  • Business impact variability: Would benefit equipment-heavy businesses and manufacturers while potentially shifting tax burden to other business types and individual property owners
  • Implementation timeline: Unclear transition period and how existing tax obligations would be handled, potentially creating legal and administrative challenges
  • Equity concerns: May disproportionately affect rural areas and school districts that rely heavily on tangible personal property tax revenue versus urban areas with different tax bases

Compiled from official sources — confirm details with the bill’s official record.

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