U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Florida
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 12-26-2006, 12:57 PM
 
38 posts, read 125,908 times
Reputation: 39

Advertisements

"Save the dream II" is a plan that pays all or part of the tax bills for Florida home owners and others. The sales tax would go up 3% and every citizen or non citizen would share the burden of paying for the services that the city and county provide such as schools, fire, police, etc. Also a 3% property sales tax would apply just for non homestead tax bills, but would have an exemption for buyers that homestead or if the tax has been paid in the last two years. Take a look and sit in the seats of the real estate broker, the banks, the tax man, the home owner, the renter, the schools, the police, the business owner and the home buyer, think about it.

"Save the dream II"

Mitigate or reduce the property tax by means of implementing the following.

1.) Increase the state sales tax throughout the state by 3% for purchases not exempt under state law.

2.) All of the revenue from the 3% sales tax increase collected stays in a state escrow account to pay to the actual individual account bill sent out by the tax collector for tax, as set fourth here.

3.) This new state sales tax rate of 9% will be even throughout Florida.

4.) Enact a new tax on the sale of real estate of 3% of the purchase price excluding buyers that will homestead.

5.) This tax of 3% shall apply to the sale of real estate that will not be homesteaded, the tax will be known as "Mitigation tax".

6.) All of the" Mitigation tax" goes to the state escrow account for payment of individual property tax accounts non homestead.

7.) The tax must be included in the purchase price, and paid when the deed is filed unless buyer signs an affidavit of future homestead eligibility and buyers that don‘t get homestead after this must pay a fine and the tax.

8.) All properties other than homestead will have a tax credit in the amount of the "Mitigation tax" paid, for two years after "Mitigation tax" is paid, to give the property temporary intrinsic value.
Example:
A: Your purchase price $200,000.00, "Mitigation tax" paid $6,000.00.
B: Same property sold within two years $250,000.00.
C: $250,000.00 sale, 3% "Mitigation tax" owed $7,500.00.
D: $6,000.00 credit.
F: $1,500.00 owed after credit is applied.

9.) The following is the only way revenue is to distribute:

First: The total revenue collected will be divided in equal amounts between all homesteaded properties for the payment to each actual individual account bill sent out by the tax collector for tax, payment not to exceed the actual tax bill or up to a $15,000 limit per bill. If there is not enough money available to pay all the bills up to a $15,000 limit per bill , those that are smaller than the maximum available payment will be marked "paid in full" and all the others will show the same equal payment and will be marked "partial payment of $ amount". All of this will take place before property taxpayers get their bills, and their bills will show the payment made.

Second: The remaining revenue if available and the "Mitigation tax" revenue will be divided equally for the payment of all tax on property not homesteaded and to each actual individual account bill sent out by the tax collector for tax, payment not to exceed the actual tax bill or up to a $15,000 limit per bill. If there is not enough money available to pay all the bills up to a $15,000 limit per bill , those that are smaller than the maximum available payment will be marked "paid in full" and all the others will show the same equal payment and will be marked "partial payment of $ amount". All of this will take place before property taxpayers get their bills, and their bills will show the payment made.
Third: Any remaining revenue will be held in the escrow account for the next year.

10.) This revenue belongs to the citizens of Florida, and shall not be used in any other way, other than outlined here, except by Constitutional Amendment thru and voted on in a general election or the state can be held liable and subject to lawsuit by the property owners of Florida!

Just some facts.

1. Homesteaded properties pay 34% of total property tax collected in Florida.

2. “SAVE THE DREAM” would raise state sales tax 3% to for a total of 9%. If a sales tax is to replace all property tax bills in the state of Florida, the state sales tax would have to be increased to 14%, my plan is much lower.
Reply With Quote Quick reply to this message

 
Old 12-26-2006, 02:55 PM
 
Location: Heartland Florida
9,324 posts, read 23,812,928 times
Reputation: 4901
What about those of us who purchased properties before this goes into effect? I have supported a tax system based on original purchase price, with taxes collected yearly on that value with inflation added percentages. Homestead should be a percentage of home value, and low income rental properties should be eligible for a tax breal equivalent to a percentage of income. If there's a budget shortfall just cut the spending. How did they do it in the past? Still I like to see someone actually making calculations on how to fix the broken tax system.
Reply With Quote Quick reply to this message
 
Old 12-28-2006, 10:37 PM
 
38 posts, read 125,908 times
Reputation: 39
Smile Reply to your post about.

Under this system if you puchased $500,000.00 house and you homesteaded it when you get the $12,500.00 annual tax bill it would be marked "Paid In Full".
Reply With Quote Quick reply to this message
 
Old 12-29-2006, 02:20 PM
 
Location: WPB, FL. Dreaming of Oil city, PA
2,909 posts, read 12,993,929 times
Reputation: 991
Theres "save our homes" that caps property taxes artifically low and the first time buyers are paying for it. I think many states have that. Its not fair for first time buyers! I say we lower property taxes but do away with "save our homes" so everyone pays equally
Reply With Quote Quick reply to this message
 
Old 12-30-2006, 11:04 AM
 
Location: Heartland Florida
9,324 posts, read 23,812,928 times
Reputation: 4901
I am interested to see your plan. Under my plan that 500,000.00 house would just have to sell for less, like 3x median income! The wealthy would have to pay more under my plan, but it's 100% fair and simple to implement, no wonder it won't pass. It also would benefit long time residents and those who build their own homes.

Under my plan that 500,000 home would pay 5,000 or so in taxes, which is very fair for a mansion like that..LOL! I would be paying a fair amount as there's only 60,000 I paid for my lots, home and everything. With the rate of inflation it's like 110,000 now, so my taxes would be like 900.00 a year. No save our homes c rap no unfair taxation, and if they can't meet the budget, be more efficient as us businesses have had to! If you've got a serious reform going count me in, I want to fix Florida before I have to abandon it!
Reply With Quote Quick reply to this message
 
Old 12-30-2006, 11:13 AM
 
38 posts, read 125,908 times
Reputation: 39
SEND ME AN EMAIL ADDRESS BECAUSE IT IS TO DETAILED TO POST;MY EMAIL:nativegator@msn.com
Reply With Quote Quick reply to this message
 
Old 12-30-2006, 04:37 PM
 
Location: central fl
467 posts, read 1,550,297 times
Reputation: 158
Quote:
Originally Posted by Need_affordable_home View Post
Theres "save our homes" that caps property taxes artifically low and the first time buyers are paying for it. I think many states have that. Its not fair for first time buyers! I say we lower property taxes but do away with "save our homes" so everyone pays equally

its not just first time buyers. there are many people who purchased a "starter" home (the way it used to be done) and are having families and need to move to a bigger house, etc. the homestead does not carry over.
Reply With Quote Quick reply to this message
 
Old 12-30-2006, 06:25 PM
 
Location: Central FL
1,683 posts, read 7,584,195 times
Reputation: 834
ts not just first time buyers. there are many people who purchased a "starter" home (the way it used to be done) and are having families and need to move to a bigger house, etc. the homestead does not carry over.

And on the reverse side there are some of us who will be looking to downsize in a few years when we retire. We don't need to cool and keep up a 3200 square foot home in retirement, but will we be able to afford to move to that 1800 square foot home or will the taxes be prohibitive and cause us to be 'prisoners' in our current home?
Reply With Quote Quick reply to this message
 
Old 12-31-2006, 03:22 AM
 
4,189 posts, read 4,402,180 times
Reputation: 2228
Default Higher Taxes vs Less Government Spending

Wouldn't it be a better idea for local and state government to cut spending?. I think there was a 1 billion dollar surplus last year, but there was not
discussion of cutting spending. Why keep raising taxes?. I think a better
idea is pass a law that local and state government can't spend more than
the rate of inflation and any excess be returned to the homeowners.
Reply With Quote Quick reply to this message
 
Old 02-22-2007, 08:33 PM
 
8 posts, read 22,872 times
Reputation: 11
I Just Don't Think This Guy Gets It Every One Is Happy, We Don't Need Tax Reform.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Options
X
Data:
Loading data...
Based on 2000-2016 data
Loading data...

123
Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Florida
View detailed profiles of:
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top