Reso 2007-1067 - Laserfiche WebLink

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'. House Proposal - aka Rubio Plan 1. Tax rollback - rolls back local property taxes based on 2001 rate plus increases for inflation ..a bill that, if approved this spring by the legislature, would cap tax increases at inflation after rolling tax rates to their levels in 2001 - before the real estate market boomed and local government spending skyrocketed. Local governments could vote to increase spending beyond the tax caps. - Marc Caputo and Mary Ellen Klas, Miami Herald, 2/22/07 Local governments could decide to go over the cap with only a 2/3 vote or a simple majority of 2/3 is not possible. House Republican legislators proposed a revolution in how Floridians tax themselves Wednesday: an immediate, nearly 20% reduction in all property taxes this year, and the option to abolish property taxes on residents homesteads..... Local elected officials said the proposal, which is far from assured of passage, would hobble their municipalities because it would impose a ceiling on their ability to tax and spend. - Mark Hollis and -Jamie Malerne;-Sonth Florida-Sun::Sentinel;-2/22/07--. n 2. Cap on spending - based on 2001 spending formula. Cities could exceed the cap with a unanimous vote of the governing body. The House plan calls for a separate state law, effective July 1, 2007, that would immediately force local governments to roll back property tax rates and cut nearly $5.8 Billion in spending, or an average of 19% of their budgets. The legislation would also impose a cap limiting future property tax increases. The rollback would not affect levies for school districts, but the cap on future increases would. - Jason Garcia, Orlando Sentinel, 2/22/07 ..A proposed constitutional amendment, that if approved by voters, would limit state spending increases to the inflation rate, and eliminate property taxes entirely for owners of homesteaded properties. That, in combination with the rollback legislation, would cut property taxes statewide by $13.5 Billion. The sales tax increase would only pump about $7.8 Billion back into local governments, leaving a $5.8 Billion hole. ...But they agree on this: Local governments stand to lose about $5.8 Billion from taxpayers - and the poor would start paying more while the well-off would pay far less. - Marc Caputo and Mary Ellen Klas, Miami Herald, 2/22/07 The spending limits on local governments are modeled after programs adopted in other states. A plan adopted in Colorado in 1990 backfired after 15 years when businesses threatened to leave because of deteriorating education and healthcare services. Colorado voters suspended the tax and budget overhaul plan in 2005 for 5 years. - Marc Caputo and Mary Ellen Klas, Miami Herald, 2/22/07 3/9/2007 Florida Property Tax Reform Legislation 3