Florida’s population growth, which has been a driving force behind the state’s economy, has slowed down significantly. According to recent data, the state’s population grew by only 0.9% in 2025, a significant decrease from its peak growth rate of 2.5% in 2022.

Impact on Property Tax Cuts

The slowdown in population growth may have implications for the state’s proposed property tax cuts. The tax cuts, which are set to be voted on in November, rely on continued population growth to make up for the lost revenue. However, with the growth rate slowing down, it is unclear whether the tax cuts will be sustainable.

The proposed tax cuts would expand the homestead tax exemption for current Florida homeowners, starting at $150,000 in 2027 and increasing to $250,000 in 2028. The exemption would then be adjusted for inflation. While supporters of the tax cuts argue that they would attract new residents and boost the economy, others are concerned that the slowdown in population growth may undermine the plan.

Demographic Factors

Demographers point to several factors that have contributed to the slowdown in population growth, including a decline in domestic migration and a decrease in immigration. The number of people moving to Florida from other states has slowed down significantly, with only 22,000 more people moving to the state than leaving in 2025. This is a significant decrease from the annual average of 208,000 during the pandemic.

Additionally, the state has seen a natural decrease in population, with more people dying than being born each year. This trend is not unique to Florida, but it may have more pronounced social, economic, and demographic impacts if the state is no longer a magnet for migrants.

Immigration to Florida from abroad has also dropped sharply, with a significant decrease in 2025. This decline is concerning, as immigration has been a major contributor to the state’s growth since 2023.

Original reporting: KTBS 3 (Shreveport) — read the source article.