[gcd01]

This was in the Orlando Sentinel today....geared towards Central FL but is true in other parts also. I suggest reading it.

http://www.orlandosentinel.com/news/...eadlines-state

[observer]

I think depending on the outcome of the property tax situation in Florida it can either help maintain the home prices stable, continue to go down, or it may help create another mini-boom especially if they do away with property taxes on ones primary residence. It will be interesting but unfortunately it seems like it may take a while before anything is done. In the mean time it seems like there are many people in a stand still waiting to see what happens.

[I95]

Interesting article, Thanks!

Do you think the property tax issue is a priority for state govt?... or is this one of those issues that they may waffle over?

[tallrick]

It's about time this subject came to the minds of buyers. Perhaps finally something will be done. The alternative is to let the buyers speak with their feet.

[observer]

I really think this issue is a huge one as far as the general economy here in Florida. Folks who have been living in their primary residence for 20 years or so will not really see that much of a savings with the property tax being eliminated and replaced by a higher sales tax. However, those who recently bought homes and those that are looking to buy it will make a HUGE!!!! difference.

One positive side to all this especially Florida being a popular tourist destination is that the tourist will contribute to the sales tax. I wonder if they have done a study as far as which way the State will generate more income; through the current property tax system or through an increase in sales tax.

[fopt65]

Originally Posted by observer

I really think this issue is a huge one as far as the general economy here in Florida. Folks who have been living in their primary residence for 20 years or so will not really see that much of a savings with the property tax being eliminated and replaced by a higher sales tax. However, those who recently bought homes and those that are looking to buy it will make a HUGE!!!! difference.

One positive side to all this especially Florida being a popular tourist destination is that the tourist will contribute to the sales tax. I wonder if they have done a study as far as which way the State will generate more income; through the current property tax system or through an increase in sales tax.

Sales taxes tend to be the most unpredictable type of revenue. Be prepared for mid year budget shortfalls. Also, tourists will reach a breaking point at a certain level of tax levied solely at them. Cross that line, and revenue will drop even further. A hurricane damaging Disney/Universal would be devastating to the whole state in this tax system.
Face it, Florida needs a state income tax if you continue to add services and expenses to the budget as you have in the past few years. The money the government is spending on roads, schools, and infrastructure is not being covered by the impact fees the builders are charging.

[tallrick]

I would be very happy if this causes the state and county budgets to be limited. If they cut services I may be getting a break from relentless hassles from big brother. They did fine with less, let's go back to the basics.