Florida Releases Historic Tax Plan Impacting Everyone in the State Florida officials have proposed a new tax plan that would dramatically cut the state's sales tax from 6 percent to 5.25 percent. Florida is deemed one of the most tax friendly states, with no state income tax "We have forgotten a fundamental truth – this money isn't ours. Tax dollars don't belong to the government, they belong to the people," Florida House Speaker Daniel Perez said in a statement to the House Chamber. "Several weeks ago, I challenged our budget subcommittees to really dive into their spreadsheets, to ask the hard questions, and find real savings." Florida's cost of living has surged in recent years due to the uptick in residents, causing everything from housing to food prices to get higher. It will be interesting to see if they get this passed, this will help with cost of living
I appreciate your optimism on a 3/4 cent sales tax reduction helping reduce our cost of living, but if the State was really interested in helping us out, how about some real action on sky rocketing insurance premiums. My premium increases this year have boat raced any savings of a 3/4 cent sales tax reduction for our household.
I've been hollering on these boards for about 8 years that the single biggest issue facing Florida is insurance. Auto, home, commercial. Nothing of consequence has been done. People making $2500 a month after taxes aren't gonna spend 10% of their income on auto insurance a month.
If the higher costs are due to people moving here, then is the plan to make Florida such a hellscape that people leave? As far as I can tell the state government wants even more development, as they are threating to void our rural boundary we just passed.
Who do you think runs this state? And has for the last 100 years? Developers! Again, the gravy train is ending and they're freaking out. It's almost like a car add. "NO PROPERTY TAXES!!!!" And if you act now, REDUCED SALES TAXES!!!! MOVE TO FLORIDA!!!!!
While people have complained about home insurance rates in Florida auto rates have doubled in just the last 4 years for the most part. I looked at a policy and each vehicle runs just over 1k every 6 months with newer cars. That is drivers with no tickets or accidents, good credit and a multi car discount. Used to commute less than 12k miles a year. Rates to insure the newer 2023 Nissan Rouge for physical damage is a small part of the premium costing about $230. every 6 months. The cost for bodily injury liability and uninsured motorist has gone way up in the last few years causing most of the additional insurance premiums. Even with the price of vehicles and cost of parts and repairs increasing the insurance for the physical damage has not seen as large of increase and has even been offset by more discounts for safety features compared to older cars. Bodily injury has gone way up and uninsured motorist has taken the biggest increases. Now you know who is paying for all those commercials. Bodily injury liability for 250k per person and 500k per accident is $419. 6 months with uninsured motorist bodily injury of 100k per person 300k per accident non stackable cost $244. for 6 months. Florida's uninsured motorist does not cover damage to the insured vehicle only bodily injury. Add in the mandatory PIP and property damage liability and the cost of liability part of the policy is over $800. of the total $1060. premium to insure the Nissan for 6 months with the majority being to cover bodily injury liability and uninsured motorist. With the cost of insurance going up so much it is creating more un and under insured drivers on Florida's roads and that leads to even higher uninsured motorist cost. With no changes in the easy to sue you with no risk that Florida has you will see more and more rate increases for bodily injury as well. Why else would attorneys spend millions a day advertising to get people to sue and using former clients to brag on how much money that got. Sure many are injured but many are not and the attorney will take the case and send them to doctors they work with that will give them some kind of injury status.
I know it's from the linked article, but this is the least-informative-most-click-bait-ey title I've ever seen on an article. Can we get something like "Florida proposes lowering state sales taxes"? What happened to journalism?
1. Increase impact fee for developers 2. Have a one-time impact fee on homes being purchased by out of staters 3. Put this money into a fund to purchase farmland across FL. These properties can be sold to private individuals but not be developed. Florida is changing so fast that it won't be a great place to live in the future. 1000's of track home neighborhoods are being erected at breakneck speed with illegal labor.
I dont know if they are building homes that fast, but the people buying tend to be older and wealthier (and/or Brazilian investors it seems), not people who are going to be working or contributing to the state's economy short or long term. If DeSantis gets his way, they wont even be tax payers.
Increase the hotel and motel tax, and put a very low max on property tax that goes down the longer you live in the same (for homeowners) address... property taxes that should zero out at 30 years whether you paid off your mortgage or not.
Or give a bigger discount for Homestead. Either that or if you own more than 2 houses, hit them with a few percentage points more. If foreign investment companies are going to come in and buy up houses, soak them for driving up costs, keeping a family from buying and generally screwing up the system.
Interesting... I would love to make these investment entities pay far more in property taxes for ownership of more than one house, and give the single family homeowners a huge tax break. Good idea.
This hasn't been on the table since Bob Graham left office. . . . as GOVERNOR!!! The scumbags own the state, both parties in the state and every city council/county commission in the state. My lovely St. Pete is a perfect example of this. The loser "Progressive" government loves to virtue signal about how "Progressive" it is all while caving in to out-of-town developers on literally EVERY project or need. We now have the tallest building on the West Coast. Nobody outside of that POS or the St. Pete City Council cares or wanted it in the first place. Take this story and spread it out statewide. We're done. There is no turning back. It's why I'm rooting for Cat 10s.
