Property Tax Relief In Florida
TALLAHASSEE, FL – Following through on their 100 Ideas efforts, House Speaker Marco Rubio, Chairman Ray Sansom, and other House leaders this morning unveiled a comprehensive property tax relief proposal designed to cut Floridians’ property tax bills by nearly 20 percent this year. In addition to reducing property tax bills by nearly one-fifth, the House leaders’ relief plan caps the rate of revenue growth for both state and local government at reasonable levels and gives voters the option of abolishing property taxes on homestead properties and replacing it with a modest increase in the sales tax.
When we traveled the state last year listening to Floridians’ ideas, we heard a common refrain. 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,” said Speaker Marco Rubio (R-Miami). “Floridians were adamant: 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.”
Bringing real property tax relief to Floridians was Idea 96 in the House’s 100 Innovative Ideas for Florida’s Future. Meaningful Property Tax Relief This Year:
1. Effective July 1 of this year, property taxes for Floridians will be reduced by nearly 20%.
2. With an adjustment forward for a reasonable increase in the size and cost of government, local government millage will be reduced to a rate generating the same tax revenue as was generated in the previous year.
3. The rate of growth for government will be determined by population growth plus inflation set off a base year of 2000-2001.
4. Local governments may choose to raise revenues above the capped rate through a 2/3 or a majority plus one vote, whichever is greater, of their governing body. These limits do not apply to taxes levied for school districts, for bond repayments, or for a two-year period when authorized by a vote of electors.
5. School district revenues would not be rolled back.
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