Florida property tax relief could hurt city services, study says
Eliminating or significantly reducing Florida property taxes could “fundamentally destabilize local finance” for municipalities that rely on the revenue, according to a new study released as tax relief legislation moves forward.The study, conducted by Wichita State University and released by the Florida League of Cities, a group that lobbies for the state’s municipalities, found that cutting homestead property taxes would likely result in less funding for police and fire departments, public works services and parks unless other revenue sources are found.
Property taxes make up approximately 43% of municipal general fund revenue and are the only stable, locally controlled revenue sources for Florida cities, the study said.
Fully eliminating homestead property taxes would mean a nearly 38% loss in ad valorem revenue and a 14% drop in general fund revenue, according to the study.
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4 comments:
What is worse having most homeowners move out of Florida?
I don't think the Governor is serios about this. I think he is a victim of his own power. This District 87 thing was as underhanded as it gets, and lowering taxes? What are we going to pay the bills with? Something afoot, and we don't know what it is.
How are they going to move if they can't sell their house? Where will they get the money to move? It's a dumb idea, and I think the Governor is losing it!
Lake Worths finances need to be audited nothing makes sense here, the pool, upstairs casino building, parks never upgraded, the shuffle board courts, bridge boat docks, it never ends!
All these property sales where is the money from property taxes, houses selling for 500k and 700k bring in 8k and more in tax revenue literally hundreds of sajes from homes that brought in $850 or $1400 previously and we have dirt streets still? lol
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