Gov. Ron DeSantis was on Marco Island today to unveil the new FY 2024-2025 state budget for Florida.
“The budget that we’re going to be submitting to the legislature is a top-line of $114.4 billion. That is actually less than our current fiscal year 2023-2024 budget. With our budget, we will have a surplus reserve amount that is $16.3 billion,” he said.
DeSantis went on to say that the state would be making investments in education, transportation, and infrastructure. A proposed tax relief package will create a one-year exemption on taxes, fees, and assessments for residential property insurance policyholders for $409 million. A permanent tax exemption on flood insurance policies for $22 million will reduce the cost of flood insurance.
Residents will also benefit from sales tax holidays. From Memorial Day to Labor Day, outdoor recreation items as well as tickets for events and museums will be tax free, saving families more than $241 million. Sales tax holidays on back to school items will take place twice a year, saving Floridians $169 million. Disaster Preparedness Sales at the beginning of hurricane season will save sales taxes in the amount of $49 million.
Among the spending on education, the Governor proposed $450 million for Florida's Voluntary Pre-Kindergarten program, which serves about 138,000 children for free.
Read more about the budget details here.
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