Was the property tax cut worth it? (Miami: real estate, budget)

[pamperedrachel]

I'm just curious and perhaps there has already been a thread on this but I didn't see it. Anyhow, as most of you know, budget cuts have been huge news lately. I know our school system is taking tremendous cuts in the budget and wiping out or reducing some really great programs. I don't want to start a debate on the budget cuts but my questions is....

Was the property tax cut worth it? How much are people saving on average a year?

[Mike Peterson]

The tax cuts did not affect school taxes.

The budget cuts could have been due to a decrease in revenue brought about by the drop in real estate values.

No one has received a new tax bill so it would be hard to see what we are saving yet.
My taxes will probably be down around 10%

[lionking]

the fact is prices are dropping like a rock on houses,more and faster than I would have thought and invetory still increases.

Poperty tax needs to go down at ther same level as houses,if houses are gonna go down to 1999 prices so should the taxes.


Please spare me the blah blah from government that they can't afford to,they gained money so fast but that doesn't mean the services needed to be expanded so much.

[doggiebus]

Do we as residents have a way we can force the government to roll back the taxes once things start to stabilize? I agree if home prices fall then the tax prices should also fall.

[mikenbacismama]

Originally Posted by doggiebus

Do we as residents have a way we can force the government to roll back the taxes once things start to stabilize? I agree if home prices fall then the tax prices should also fall.

If only! The government will try to keep it's grubby hands on all it can. They sure spent it quickly during the boom, I bet (we got her mid-2006). Just like the rest of us who have to budget more carefully during these tough times, they should too!

[lionking]

Originally Posted by mikenbacismama

If only! The government will try to keep it's grubby hands on all it can. They sure spent it quickly during the boom, I bet (we got her mid-2006). Just like the rest of us who have to budget more carefully during these tough times, they should too!

exactly.The boom lasted 3-4 years 04 to early 07?Anybody that wanted to move and or make money had that time.Government had that time to pay off dept or increase needed resources but you can't tell me roads,fire-police,schools in 3 years increased that much to continue high taxes even after property starts to plummit.

Once people have money in their hands nobody wants to go to a less budget again and neither does government but they must.

All I can say I'm glad I caught the tail end of the boom and sold my house to escape that hole called Miami.Because those that didn't and wanted to leave are stuck unless they sell low....real low.Although other areas are coming down also so it kinds makes up if you want to move but the chance to ring good extra doe out of it is gone.

Who knows what's ahead and how long before things become stable let alone rises in value again.

[randian]

The business personal property tax cut was very worth it. We'd spend hundreds of dollars in staff time to document a $75 tax. It was ridiculously intrusive, everything down to the stationary and paper clips had to be documented. I'd rather fill out a 1040 or 1120, it's that bad. That's in addition to the sales tax paid when you first purchased the items, by the way, and is paid annually. Now the first $25k of personal property is exempt, so most small businesses can stop filing (after the initial return, which functions as a request for exemption).

[tamcim72]

if the tax cut didn't affect schools then how come school districts have huge shortages for -08-09 budget??

[doggiebus]

Schools have a lot of wasteful spending, maybe this will help teach them to be more conscious when it comes to our money. I am happy with it, I can't wait to see more things change.

[tallrick]

My taxes went up 20%. No cut for me, I think it was a lie as usual.