Reso 2007-1067 - Laserfiche WebLink

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" Colorado Taxpayer Bill of Rights (TABOR) Intent: Required voters to approve all tax increases or state debt Limited growth in state revenues to a formula based on population growth plus inflation Placed separate revenue limits on school districts and local government Mandates that taxes above those limits be refunded to taxpayers 3. Eliminate property taxes on homesteaded property and replace with increase in sales tax of 2.5 cents Replacing property taxes with a higher sales tax would require approval by two-thirds of Florida voters because it involves raising the sales tax. ...sales tax is a regressive revenue source...sales tax revenues are more volatile...- Jason Garcia, Orlando Sentinel, 2/22/07 More people will shop on the internet to avoid the higher sales tax...call it the eBay relief act.... A big winner would be real estate agents, speculators and developers. In South Florida, the market is one good flush from going down the toilet. Visitors pay about 20% of- the sales tax;-.; ;-The Republicans haveal ready put-nth is - state- in-fiscal-- jeopardy by subsidizing hurricane insurance on the coast. When we get slammed and go billions of dollars in debt, the logical bailout would be in the sales tax. Maxing it out now precludes that. - Mike Thomas, Orlando Sentinel, 2/22/07 ...food, medicine, services and rent are exempt from sales tax in Florida. Caputo and Mary Ellen Klas, Miami Herald, 2/22/07 - Marc Rubio release an economic analysis to accompany his plan which predicts that the property tax cuts will make Florida one of the lowest tax-burden states and "will generate significant economic growth and prosperity for the state..." - Marc Caputo and Mary Ellen Klas, Miami Herald, 2/22/07 Moving from property tax collections, considered a particularly stable from of taxation, to increasing reliance on sales tax "seems like a move in the wrong direction" that could eventually hurt the state's bond and credit ratings, he said. - Johnathan Hamilton, UF via Nicholas Azzara, The Herald, 2/26/07 But while homeowners could be dancing in the' streets, local governments would be scrambling to rewrite budgets to make up for the dramatic revenue drop-off. - Aaron Deslatte, Tallahassee Democrat, 2/27/07 Even if voters approved a constitutional revIsion next fall to abolish homesteaders property taxes and raise the state sales tax to replace lost governmental revenue, cities would still have to slash budgets by an average of 30%, says John Wayne Smith, a lobbyist with the Florida league of Cities. - Aaron Deslatte, Tallahassee Democrat, 2/27/07 3/9/2007 Florida Property Tax Reform Legislation 4