Constitutional tax measures coming down the pipe

[30ashopper]

The tax cap ideas Florida legislators are considering include:

* Limiting state revenues to a formula based on population growth and inflation. Tax collections beyond the cap would be put in reserves up to a certain amount and then used to offset reductions in local school property taxes under the proposed constitutional amendment. The bill passed the Senate 27-13 last month, with two Republicans opposed and one Democrat in support. It is likely to pass the House soon.

* Capping tax increases on non-homestead properties at 3 percent, down from the current 10 percent. This bill essentially creates a "Save Our Homes" tax limit for commercial properties and second homes. The bill is moving quickly through Senate and House committees.

* Restricting property tax collections to 2 percent of the assessed value. The proposed constitutional amendment was introduced in the House Tuesday. It creates a 20 mill cap -- or $20 for every 1,000 in assessed value -- that applies cumulatively to all taxing authorities in a particular area, from fire and hospital districts to city and county government. About 10 percent of properties currently pay more than 20 mills, representing $460 million in tax collections statewide beyond the cap.

Tax Cap Could Come Before Florida Voters in 2012 | TheLedger.com

I'd vote for the first amendment, probably wouldn't vote for the second, and on the third I think that's up to the local areas to decide, so I'd probably vote against. (I'm pretty sure Walton is below the rate they want. wrobert?)

 

[Matt J]

Its like the blind leading the blind. Too busy to deal with the current budget deficit Florida lawmakers set out to make balancing the budget even more difficult.

My point is that perhaps now isn't the time to cap the tax rate on ridiculously depressed properties?