Property Tax Reform

Thanks for sharing this!

You’re a year round Florida resident and your property taxes are capped by the homestead exemption and the Save Our Homes amendment. But your part-time neighbors are complaining about the inequities of the system.

The question: How would you address their concerns?

a. Raise the homestead exemption.
b. Add a state income tax.
c. Double the sales tax and do away with property taxes completely.
d. Assess property differently.
e. Adjust millage rates.
f. Have lawmakers practice fiscal responsibility.
g. Close the border and stop all progress.

Okay, so f and g will probably never happen. But the other choices—or even some as-yet-unmentioned solution—might become proposed amendments to the state constitution.

In the coming months, the 25 members of Florida’s new Taxation and Budget Reform Commission (TBRC) will look at different proposals and debate tax related issues, including reforming the property tax system. A steady input of ideas is already flowing from associations, organizations, businesses and winter residents unhappy with present property tax bills.

At this point, the only certainty is that change is coming. If you want a say in how it affects your wallet, now’s the time to express your views and concerns.

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