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WSJ What’s News

Why Florida Is Considering Getting Rid of Property Tax

WSJ What’s News

The Wall Street Journal

News, Daily News

44K Ratings

🗓️ 20 March 2025

⏱️ 12 minutes

🧾️ Download transcript

Summary

P.M. Edition for Mar. 20. As the costs of home ownership soar, Florida lawmakers are considering a far-reaching remedy: eliminating property taxes. WSJ economics reporter Arian Campo-Flores joins us to discuss why the state is unlikely to get rid of property taxes completely. Plus, President Trump signs an executive order seeking to abolish the Education Department. And a $6.1 billion-sale of the Boston Celtics basketball team is the biggest in the history of American sports. Alex Ossola hosts. Listen: Trump Wants to Abolish the Education Department. What Comes Next? Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Hello Blue Skies. Hello moving onwards and upwards. Hello, taking control of your money. Say hello to tax-free investing. Open a Stocks and Shares ICER and act by the 5th of April to get 100 to 3,000 pounds cashback. Cargreaves lands down. Hello Life. Register and add or transfer £10,000 plus.

0:23.6

You may get back less than you invest and tax benefits vary.

0:26.6

For terms and conditions, see hl.co.

0:28.6

UK, 4.slash ISA.

0:29.6

President Trump signs an executive order seeking to abolish the Education Department.

0:38.4

Plus, why Florida lawmakers are considering getting rid of property taxes.

0:43.0

Home values have gone up so significantly around the country that people are seeing their property tax bills go up alongside that.

0:50.3

And so there's been a real movement to do something about that in a number of states.

0:56.0

And home sales were up last month.

0:58.5

What's behind the rise?

1:00.1

It's Thursday, March 20th.

1:02.0

I'm Alex Osala for the Wall Street Journal.

1:04.3

This is the PM edition of What's News,

1:06.6

the top headlines and business stories

1:08.4

that move the world today.

1:16.4

Thank you. the top headlines and business stories that move the world today. New data out today from the National Association of Realtors shows that U.S. existing home sales

1:22.1

rose 4.2% in February from the Pryger month. That was far better than economists expected and was the

1:28.3

first month-over-month increase in two months. Nicole Friedman, who covers the U.S. housing market for

1:33.4

the journal, explains the rise, despite the fact that mortgage rates haven't changed much.

1:37.8

A few years ago, when rates shot up from 3% to higher than 6%, that really, really shocked the market. And buyers couldn't let go

1:47.7

of what they could have afforded with 3% rates compared to what they could afford with rates at 6 or

1:54.3

7%. It was such a dramatic increase that really spooked people. But now it's been a couple of years and rates have been hovering

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