TALLAHASSEE, Fla. (VINnews) — Gov. Ron DeSantis on Wednesday called a special legislative session to advance a plan that would dramatically reduce or eliminate property taxes for most Florida homeowners with primary residences.

The proposal begins with raising the homestead exemption to $250,000 immediately. Homes valued at $250,000 or less would pay no property taxes. Higher-valued homes would have the first $250,000 exempt from taxation

DeSantis outlined a phased approach that could later increase the exemption to $500,000 — which he said would eliminate taxes for more than 90% of primary homeowners — and eventually lead to full abolition of homestead property taxes.

According to the governor, about 60% of Florida’s primary residences would see their property taxes wiped out under the initial $250,000 exemption.

The measure would also include restrictions on how local governments spend remaining tax revenue, limiting it to essential services.

Lawmakers are expected to consider a constitutional amendment during the special session, which would then go before voters in November. Constitutional amendments in Florida require 60% voter approval to pass.

DeSantis made the announcement as he pushes one of his signature priorities ahead of the fall election. Details of the special session start date were not immediately available in initial reports, though multiple sources indicate it could begin as early as next week.

This story is developing. VINnews will provide updates as more information becomes available from the governor’s office and legislative leaders