Florida’s Republican Governor Ron DeSantis may well be one of the best governors in the nation today and it will surprise many if he doesn’t end up in the Oval Office one day. In his latest move to save Florida taxpayers money he’s pushing a ballot initiative to gradually phase out Florida’s real property taxes sometimes known as homeowner taxes.

It’s an interesting notion.

Florida Governor Ron DeSantis detailed the next regulatory steps for the state’s effort to eliminate property taxes on primary residences in Florida.

“People are being pinched across the economy in a lot of things. We’re doing fine at the state [level], but the local property taxes are hurting people.”

DeSantis continued his assessment on FOX Business’ Varney & Co. Friday.

“The reality is these local governments have overspent, and people are paying more and more for that. And at some point it’s like, when is enough, enough?”

Enough? How about too much. Even in a red state like Florida there is almost certainly a lot of spending that can be cut. And cuts will be required because the state’s property taxes are bringing in significant cash.

The proposals are interesting.

Lawmakers are reportedly advancing a package of proposals in the Florida House that include a $500,000 homestead exemption with a potential maximum of $1 million for seniors. There would also be a cap on assessment increases and the option of eliminating property taxes on homesteads altogether.

If one had to offer a guess the $500,000 homestead exemption is much more likely to see the light of day than eliminating the property taxes altogether.

According to the Florida Policy Institute property taxes generate roughly $55 billion annually and provide around 18 percent of county revenues, 17 percent of municipal revenues and up to 60 percent of school-district funding in many areas. The group warns that eliminating property taxes could force a dramatic increase in other revenue sources in some estimates raising the state sales tax from 6 percent to as much as 12 percent.

Even if we consider an arrangement in which sales taxes are hiked to make up for the property tax being mostly or completely eliminated it’s still a better deal. Sales taxes in Florida are 6 percent on most items but some items are exempt from the sales tax.

Food and groceries excluding prepared foods candy and carbonated beverages are exempt. Medical and health items, products intended for agriculture, equipment and supplies for manufacturers, energy and utilities and a few other things are also exempt.

Here’s the thing. Florida like Alaska has a booming tourism industry. Florida unlike Alaska has that state-wide sales tax. Tourists don’t pay property taxes in Florida but they do pay sales taxes.

Even illegal aliens pay sales taxes not that this is any reason to allow them to remain. The sales tax has a much broader base.

Also property taxes can take a bite out of a homeowner’s budget as their property appreciates. It’s a negative incentive on home ownership which is supposedly still a major part of the American dream right.

This whole idea is just getting off the ground. It’s anyone’s guess what the Florida voters may decide. But developments in this matter will be watched with great interest both before and after any vote.

The $55 billion in annual property tax revenue represents a massive amount of money that local governments have become dependent on. Eliminating this revenue stream would force dramatic restructuring of local budgets.

The 60 percent of school district funding coming from property taxes in many areas shows how reliant education systems are on this source. Schools would need alternative funding mechanisms.

DeSantis’s point about local governments overspending gets to the heart of the problem. Property taxes keep rising not because homes need more services but because governments spend more.

The homestead exemption proposals ranging from $500,000 to $1 million for seniors would provide immediate relief. Many Florida retirees on fixed incomes struggle with rising property tax bills.

The cap on assessment increases would prevent property taxes from skyrocketing as home values rise. This protects longtime homeowners from being taxed out of their properties.

Tourism making Florida’s sales tax base broader than property taxes is a key advantage. Millions of visitors each year contribute to sales tax revenue without benefiting from local services.

The comparison to Alaska is relevant because both states rely heavily on tourism. However Alaska has no state sales tax giving Florida an advantage in revenue diversification.

Property taxes penalizing home ownership by increasing as values rise contradicts American values. People should benefit from their property appreciating not get punished with higher taxes.

The American dream of home ownership becomes harder when property taxes consume an ever-larger portion of household budgets. Young families especially struggle with these costs.