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<br />" <br /> <br />Deve;Jorul f::Jy <br />06V5 UOQj <br /> <br />Overview of Proposed ~ <br /> <br />Florida Property Tax Reform -2007 <br /> <br />Background Information <br /> <br />Sales Tax Facts <br />1 cent statewide raises $4 Billion <br />1 cent statewide could replace all municipal property taxes <br />2 cents statewide would replace K-12 O&M (almost 50% of property taxes paid) <br />2 V2 cents statewide would replace property tax on all homestead property <br /> <br />Save Our Homes Exemption <br />Has kept> $8 Billion worth of property valuation from being added to tax rolls. Result is that the <br />- ---6urden-hasoe-enshiffea1orenters;-n-ewnomeowners;owners-ofseco-na-h-6mes--ana6Dsinesses:- <br /> <br />Municipal Property Tax Share <br />Of the 412 cities that levy property tax, their combined levy generates about $4 Billion of the $30 <br />Billion in total property tax revenue. <br /> <br />State Budqet <br />The $70 Billion State budget has grown 70% over the last 8 years <br /> <br />Cities spend money on two kinds of services: <br />Services demanded by local taxpayers <br />Services mandated by the state legislature <br /> <br />Unfunded State Mandates to Local Governments <br />Large pension benefits to police & firefighters <br />Minimum salaries for police officers <br />Drinking water treatment <br />Sewage treatment <br />Road construction specifications <br />Recycling <br />Comprehensive planning <br />Etc. <br /> <br />Property Tax Breakdown <br />13% Cities <br />40% Counties <br />40% School Districts <br /> <br />3/9/2007 <br /> <br />Florida Property Tax Reform Legislation <br />