Friday, September 3, 2010

Taxes, Taxes Everywhere

Florida property taxes have a list of tax reform propositions that have come through the state in the last year alone. This is done through the Budget Reform Commission. Of course, it repeals school property taxes and then replaces them with the new state sales tax under the “services” category. Back in 1987, the taxation of such services only lasted a few short months as it was repealed by legislature due to strong opposition.

The former state senator McKay sponsored the proposal and it came under attack immediately by those who have business interests. No one wants to see the local small businesses go out of business and have to layoff thousands of workers. The opposition had claimed that the state was going to levy taxes on services, ones that could have been transferred to a neighboring state.

If the proposal went through, this could cut property taxes by as much as 40% and it has received a great review from business that would normally pay a disproportionate share of the property taxes. Target areas are now exempt such as accounting, print services, transportation, food, medicine, energy and other essential services.

In my opinion, reducing taxes always makes individuals and businesses happy. Do not swap out services for taxes or raise taxes on one just to reduce on another. We must all work together to reduce our expenses. We have to do this in our homes, why not require the state to do the same! Be aware; be informed of all Florida property taxes and the laws around them.

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