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03-26-2007, 01:54 PM
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Junior Member
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Join Date: Mar 2007
2 posts, read 2,311 times
Reputation: 10
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property tax questions
home owner, would you rather pay $3,5,8,10,15,20,25,30,000 a year property tax or $303 more a year sales tax.
renter, would you rather pay $3,5,8,10,15,20,25,30,000 a year passed on property tax or $303 more a year sales tax.
this is a no brainer. the republican proposal is to eliminate the property tax completely on your personal residence & substitute it with a 2.5% additional sales tax. right now taxes are concentrated on a small group of people, the home owner. that's why property taxes are extremely high for home owners. the additional 2.5% sales tax will spread out the tax burden to everybody, not concentrating it on home owners. non residence, non homestead real estate will be reduced to 2000-2001 levels.
the advantages of this proposal are enormous. your personal home will no longer be taxed, more people can afford a home, real estate will boom, people will improve & expand their homes creating jobs, you can live in the home of your choice, people will spend their saved property tax in the economy creating jobs & businesses. this is over 10 billion dollars injected into the economy. you have more money to pay your home owners insurance.
this will attract investors & businesses. call, write or email your representative. tell them you want this now.
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03-26-2007, 04:24 PM
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Bohemian Beauty
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Join Date: Jan 2007
3,163 posts, read 2,964,916 times
Reputation: 1010
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Believe it or not, not all of us want this. What will this do to the various county services? I have read that many counties will have to cut back on police, firemen, teachers, etc. Also what about our infrastructure?
I think the best solution is cutting back the taxes some and raising the sales tax some - a little bit of both. I really doubt that they would totally do away with the property taxes. Florida is lacking too many services as it is, they can't afford to lose this base. We will pay one way or another.
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03-26-2007, 06:23 PM
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Senior Member
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Join Date: Jan 2007
Location: NEFL
7,184 posts, read 5,139,535 times
Reputation: 6412
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A 20 billion dollar answer
Sales tax is regressive. It hurts lower income families more than others, as a higher percentage of their income goes to paying sales tax.
Eliminating property taxes would shift the burden, not just to tourists, but to all families in the state.
The legislature just needs to bite the bullet and eliminate sales tax loopholes. The only rhyme or reason for most of them is that the groups represented hired the best lobbyists that money could buy.
WHAT SALES TAX BREAKS ARE WORTH
State revenue experts say the elimination of Florida's tax exemptions for professional services would generate more than $20-billion a year. Here are a few of the biggest, or best-known, exemptions and how much money each would generate annually:
Exemption Amount (in millions)
Value of trade-ins and discounts 594.8
Legal services for profit 588.8 BIG, BIG LOBBY IN TALLY
Charter fishing boats 54.6 - Joe Lunchbucket pays taxes on his fishing boat, but if someone buys one to make a profit....no tax.
Bottled water 42.4 - If someone can pay a buck for 8 oz. of water, the sales tax won't kill 'em (I'm in this group)
Newspaper and magazine inserts 41.9 -they get a tax exemption for all that crap that they stick in our newspaper!!! That is adding insult to injury!
Feed for livestock, poultry and ostriches 22.5 - OSTRICHES!!!! While doggies get taxed.
Motion picture video equipment 4.9 - because they make so little in this industry?!
College and high school stadium skyboxes 0.7 - me and my kids going to the game- taxed
Source: 2005 Florida Tax Handbook ( www.state.fl.us/edr/reports/taxhandbook2005)
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03-26-2007, 07:22 PM
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Waiting to pick up the pieces from the crash
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Join Date: Oct 2006
Location: Key Largo
6,283 posts, read 5,538,165 times
Reputation: 2062
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Quote:
Originally Posted by gypsychic
Believe it or not, not all of us want this. What will this do to the various county services? I have read that many counties will have to cut back on police, firemen, teachers, etc. Also what about our infrastructure?
I think the best solution is cutting back the taxes some and raising the sales tax some - a little bit of both. I really doubt that they would totally do away with the property taxes. Florida is lacking too many services as it is, they can't afford to lose this base. We will pay one way or another.
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Let's hope so! The government needs to tighten it's belt just like we do. A lot of the money spent is wasted, I bet 50%! Miami-Dade county is one of the worst I have seen in Florida.
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03-26-2007, 07:36 PM
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Not a member
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Join Date: Feb 2006
2,317 posts
Reputation: 471
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Quote:
Originally Posted by hereinfla
Sales tax is regressive. It hurts lower income families more than others, as a higher percentage of their income goes to paying sales tax.
Eliminating property taxes would shift the burden, not just to tourists, but to all families in the state.
The legislature just needs to bite the bullet and eliminate sales tax loopholes. The only rhyme or reason for most of them is that the groups represented hired the best lobbyists that money could buy.
WHAT SALES TAX BREAKS ARE WORTH
State revenue experts say the elimination of Florida's tax exemptions for professional services would generate more than $20-billion a year. Here are a few of the biggest, or best-known, exemptions and how much money each would generate annually:
Exemption Amount (in millions)
Value of trade-ins and discounts 594.8
Legal services for profit 588.8 BIG, BIG LOBBY IN TALLY
Charter fishing boats 54.6 - Joe Lunchbucket pays taxes on his fishing boat, but if someone buys one to make a profit....no tax.
Bottled water 42.4 - If someone can pay a buck for 8 oz. of water, the sales tax won't kill 'em (I'm in this group)
Newspaper and magazine inserts 41.9 -they get a tax exemption for all that crap that they stick in our newspaper!!! That is adding insult to injury!
Feed for livestock, poultry and ostriches 22.5 - OSTRICHES!!!! While doggies get taxed.
Motion picture video equipment 4.9 - because they make so little in this industry?!
College and high school stadium skyboxes 0.7 - me and my kids going to the game- taxed
Source: 2005 Florida Tax Handbook ( www.state.fl.us/edr/reports/taxhandbook2005)
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Isn't all sales tax deductable?
http://www.irs.gov/newsroom/article/...165636,00.html
Last edited by macguy; 03-26-2007 at 07:49 PM..
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03-26-2007, 07:47 PM
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Senior Member
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Join Date: Jan 2007
Location: NEFL
7,184 posts, read 5,139,535 times
Reputation: 6412
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Quote:
Originally Posted by macguy
Isn't all sales tax deductable?
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Yes, good point. So is property tax.
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03-26-2007, 09:40 PM
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Not a member
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Join Date: Feb 2007
Location: Pennsylvania and Florida
142 posts, read 194,484 times
Reputation: 32
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The current Gov. wants this because it's keep Florida competitive with other states vying for wealthier residents. And it would help keep the state more red than blue thereby keeping those electoral votes in the repulican column..
Doesn't help me much ..I'd save 1100 a year in prop. taxes. The rich people at the beach would save 10k plus or minus. But I think on the whole it'd be good for resale values when competing for people who are considering other states as well.
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03-26-2007, 09:41 PM
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Compassionate Curmudgeon
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Join Date: May 2006
Location: Port St. Lucie and Okeechobee, FL
1,299 posts, read 1,469,657 times
Reputation: 818
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Shifting to sales tax will cost everyone more money, plus make it much more likely that politicians will continue to increase it. Here, this thread is started by someone trying to say that a mere 2.5% increase will not hurt. Can't you just hear the politicians say, "...just another 1/2%..." and another -- and another.
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