MENDMENT #5
AMENDMENT #5: ELIMINATING STATE REQUIRED SCHOOL PROPERTY TAX AND REPLACING WITH EQUIVALENT STATE REVENUES TO FUND EDUCATION
Reference: Article VII, sections 4, 9 and a new section; Article XII, section 28
Summary: Replacing state required school property taxes with state revenues generating an equivalent hold harmless amount for schools through one or more of the following options: repealing sales tax exemptions not specifically excluded; increasing sales tax rate up to one percentage point; spending reductions; other revenue options created by the legislature. Limiting subject matter of laws granting future exemptions. Limiting annual increases in assessment of non-homestead real property. Lowering property tax millage rate for schools.
Sponsor: Florida Budget and Taxation Reform Commission
Background: The tax reform commission has proposed that property taxes be lowered 25%, with the Legislature required to raise the 2010 sales tax by 1% to make up part of the shortfall that would result to school funding, and with the Legislature encouraged to make up the rest of the shortfall by other means, including more sales tax expansion, closing of sales tax loopholes, a possible services tax, and potential budget cuts.
PRO:
* The change would result in lower residential property taxes, along with higher sales taxes.
* The amendment might result in closing of some sales tax loopholes.
CON:
* The amendment increases sales tax, which is a less stable income source than property tax.
* The amendment makes no provision for adequate school funding after 2010.
* The amendment increases the tax burden on lower-income families.
the florida budget went from 47 billion to 74 billion overnight & the goverment expanded tremendously & spent our money on wasteful projects & programs we don’t need. they tripled & quadrupled our property taxes to pay for all of this. the extra 27 billion per year was all unfairly concentrated on the property owner. the taxpayer never voted for this huge gov expansion, out of control spending & outrageous property taxes. we now have a huge gov we can’t afford & outrageous property taxes we can’t pay. retired seniors are the hardest hit. they are leaving the state to survive. you can’t take an extra 27 billion per year out of the pockets of taxpayers & businesses without a very negative effect. the economy is going down hill fast, forclosures are at an all time high & real estate & construction are completely dead. this gov. has to be cut back to 1999 levels where it belongs along with property taxes. the plan passed by the house, eliminating the property tax for homestead homes, raising the sales tax 2.5% & cutting all other property taxes to 2000-2001 would have solved the problem but Crist, Pruitt, Geller & the senate democrats blocked it as they have blocked every tax cut proposal. they are not going to allow this gov to be cut back. don’t be fooled, we don’t need this huge, out of control, highly bureaucratic gov & these outrageous property taxes. wake up. they are destroying the state.