If you've been complaining about property taxes in Florida, here is your chance to do something about them! Whether you currently own property or not, this will affect you. Please take a minute to look at this and go to the website to endorse the petition to cut taxes – if passed, we will all save money and make more money.
This web site worth a visit. This will stimulate the real estate industry a lot. Go to www.nomorepropertytax.com and sign the petition to cut taxes in Florida.
The Florida House of Representatives has proposed a bold plan to transform the way we pay for government services.The proposed Constitutional Amendment would eliminate the property taxes on homestead property and reduce the tax on non-homestead properties by 20% and p rovide funding for local government with an additional 2.5% state sales tax which is paid by Floridians and tourists.
If you agree, log onto www.nomorepropertytax.com and sign the petition to cut taxes in Florida.
Once you have signed the amendment, forward the address above to your parents, your friends, and your family. Spread the news that Floridians need permanent tax relief. Share this Web site with a friend.
WE ALL NEED TO VOICE OUR OPINIONS (pro & con) TO OUR LEGISLATORS SO THAT THIS GETS THE ATTENTION IT NEEDS!
The Plan: A Cut, A Cap, A Vote
House Speaker Marco Rubio Announcing the Plan
The Cut.
Immediately reduce property taxes by rolling back most property tax rates to 2000-2001 levels plus inflation and population growth for non-homestead homeowners and commercial property owners. (Property taxes for schools, payment of bonds and voter approved property taxes are not rolled back.)
The Cap.
Cap local governments’ ability to tax and spend by limiting future increases in all property taxes, including those that fund schools, to inflation and population growth.
The Cut and the Cap will immediately result in a $5.5 billion dollar property tax savings for homesteads, non-homesteads, and commercial property.
The Vote.
Give Floridians a chance to vote for even further tax relief by placing a constitutional amendment on the ballot to eliminate $3.1 billion dollars in homestead property taxes statewide in exchange for an additional 1 cent state sales tax which is paid by Floridians and tourists. The amendment also provides the opportunity for even more tax relief, by forcing every county and school district to hold countywide votes by November 2010 on whether to completely eliminate property taxes on homestead properties.
Voters would be given the option of eliminating all county property taxes on primary residences by raising the sales tax another penny, and eliminating all remaining school district taxes on the same property for another half-penny. Altogether, the Vote portion of the plan provides for up to $10.8 billion in additional property tax relief.
The House Property Tax Relief and Reform Act also PROTECTS taxpayers by requiring a unanimous vote of a local commission or board to override the constitution.
“Property taxes have grown so burdensome that homeowners and business owners fear being forced out of the homes and businesses that they have worked so hard to build. Timid tweaks to the status quo will not do. Our proposal is a bold idea that provides comprehensive reform and meaningful tax relief to all Florida property owners.”
—Marco Rubio, Speaker of the Florida House of Representatives
Got Questions?
Would I really save money if my property taxes are eliminated, but I pay a higher sales tax?
It depends on how much you spend. For your homestead home, you would have to spend more than $40,000 in taxable goods every year to pay the equivalent of $1000 in property taxes. For example, a homestead property owner with a property tax bill of $2300 would have to buy $92,000 in taxable goods to pay the same amount of taxes. Use the calculator on the home page to determine your exact savings.
Why do we need a Constitutional Amendment?
Amending the Constitution is the only way we can make these changes. Plus, it allows the voters to participate in the process.
Why not just double the Homestead Exemption?
Doubling the homestead exemption would provide significant relief in rural areas where home values are lower but limited relief in urban areas where comparable homes are assessed significantly higher. Also, the proposal would not provide any relief to non-homestead homeowners and commercial property owners. We need to change the tax system, not just put a band-aid on the problem.
Why not just improve Save Our Homes?
Save Our Homes was a constitutional amendment passed in 1992 that limits increases on homestead property tax bills to 3% or inflation, whichever is less. While well intentioned and much needed, the amendment created unintended consequences. Two homeowners with the same value home in the same neighborhood can pay drastically different tax bills based on when they purchased their home. While making the cap portable would help, it would not address the equity issues.
How much does local government collect in property taxes annually?
In fiscal year 2006-2007, local government collected a total of $30 billion in property taxes. In the last ten years, the amount of money collected in property taxes nearly tripled.
How much of local government programs and services are funded by property taxes?
Property taxes comprise less than half the total revenue collected by local governments. Percent of Total Revenue from Property Taxes (2003-2004):
If this plan was adopted five years ago, what impact would it have had on property taxes today?
The pink line represents the taxable value of property in the state. The green line represents the current property tax system. The blue line represents what property tax bills would be under the proposed plan.
New Law To Reduce Property Tax in Florida!