Would you trade property tax for increased sales tax?
Last week under a plan proposed by House Republican leaders “Florida voters would be able to abolish property taxes on primary homes and put caps on government revenues in exchange for adopting the nation’s highest statewide sales tax.”
A second part of the proposal is designed to reduce taxes by an average of nearly 20 percent for all property owners, although most of those savings would go to businesses. It would not require voter approval but could go into effect sooner.
“House Speaker Marco Rubio, R-Miami, said a proposed constitutional amendment that would raise the statewide sales tax by 2.5 percentage points – from 6 percent to 8.5 percent – could go on the ballot later this year or at the 2008 general election….”
Our legislature is trying to find solutions to rising property taxes and rising insurance rates. We have seen quite a few Sarasota - Bradenton residents leave town for other less costly states. We are hopeful some workable solution is found soon.
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Bradenton Real Estate
