Will Florida’s Sales Tax Increase?
Economically, there is at least one advantage to living in Florida. We do not have a state income tax. We do, however, have outrageous property taxes in most counties, as well as a system that is not adequately protesting homeowners from the criminal homeowner’s insurances prices.
Our state sales tax is currently 6%, but nearly every county in the state tacks on at least another penny to cover things like roads and bloated county government salaries. I pay 7% where I live.
You don’t get anything for free. That is a universal truth. With so many people complaining about the cost of property taxes, the state government is offering to make some changes that would cut 25 – 40 percent (or more) off a typical tax bill.
But, at a price!
On November 4, when elections occur, we will have to vote on whether or not to add another cent to the base state sales tax. That would mean 7 cents on most purchases, excluding food, drugs and some other products. Only then would the Legislature eliminate a portion of local property tax.
Since all of the counties in the Tampa Bay area already tack on that extra penny, that means sales tax around here would move to 8 cents on the dollar.
Even with what would look like an extra burden on residents, the proposed change would actually cut a lot of money from schools in the state. The bill would take $7.9 billion from local school budgets statewide, but the extra penny would only give back $3.9 billion.
As distasteful as this increase initially sounds to me, I do see it as a valid way to make some of the illegal individuals working and living in Florida pay a little more tax. It’s a small ray of sunshine.
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