Florida Tax Reform:
As you all know we recently avoided a major disaster here in the State of Florida with tax reform. The politicians grand plan to provide HUGE amounts of tax relief to the public failed, and also placed additional financial constraints on existing and growing communities throughout the state of florida.
Thank goodness they didn't kill our local governments by dropping the tax rates like the rogue plans that House speaker Marco Rubio wanted too.
The tax relief that was provided to the people came in several different options to the public that the local governments could choose which option worked best for them in their particular situation.
Option 1) Run with the same amount of advalorem tax money they did the previous year effectively lowering the millage rates if the taxing area sustained growth or an increase in taxable values.
Option 2) The same as above plus and additional 3% decrease in the taxable revenue.
Option 3) Accept the new millage rate in Option 1 and take the new growth advalorem tax money.
Option 4) Vote by a supermajority to keep the millage rate the same and as the previous tax year, and accept all of the new growth advalorem tax revenue.
Southwest Florida is one of the fastest growing areas in all of the State of Florida. But it seems that we still don't have enough roads for all the people that continue to move here, I-75 & US 41 are parking lots at times during the rush hours, we can't build schools fast enough, public safety agencies are stretched thin and playing catch up with keeping up with the large population influx and the increased volume of requests for services.
So with all that I have just mentioned... the whole reason that budgets are increasing are because the growth has fueled new advalorem dollars into local goverments that need this revenue to continue to provide a seamless level of service to the public that lives throughout the state of florida. People can't continue to come here and expect not to pay taxes cause the area has grown... local government has to grow too !!!
Some local governments have chose a variety of the options above, including Option 4.
Taxes are just that... taxes. People who have purchased expensive homes knew when they purchased them they would have to pay tax on them. A lot of people said the risk in purchase was okay because they didn't plan on keeping their properties that long anyways, and flipping them for big $$$$$. Or using their flip $$$$ to buy more property.
Now the crunch has arrived and the market has slowed, prices have adjusted, and now the people are starting to cry fowl "My goodness you tax me too much" when they all too well knew what their taxes would be when they purchased the home.
I pay taxes too... and would I like to pay less... sure... but I don't want to give up my essential services, parks and rec, city programs, if the $$$ isn't there they're going to have to cut something out of the budget.
This blog is a lead in to my next blog regarding the superhomestead exemption that floridians will vote on in January of 2008 coinciding with the presidential primary.
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