Wednesday, March 28, 2007

Who doesn't have a property tax plan?

So now the Senate Democrats have a property tax plan, making it officially the umpteenth compilation of tax rollbacks, caps, breaks and shakes that lawmakers, special interests and Gov. Charlie Crist have pitched.
While Democratic plans are usually all for naught, the first volley from the upper chamber of the Legislature is significant for one reason: it gives a starting point for how much of a property tax rollback legislative leaders could ultimately agree on.
Everyone wants to cut tax revenues for cities, counties, and other taxing districts back to some artificially set point in time. Two House plans would alternately roll it back to 2001 or 2004, shaving anywhere from $5.5 billion to $6 billion from the bills of all property owners.
Senate Democratic Leader Steve Geller's plan Tuesday low-balls the tax rollback by setting it for 2006, amounting to $1.1 billion in savings.
The leaves a big opening for Senate Republicans to step in with a middle-ground rollback number and for everyone to claim success by May 4.
Besides a rollback, Senate Republicans have expressed a fondness for changing the assessment formula in Florida, extending a Save Our Homes-fashioned tax cap to second homes and businesses, and giving companies the tangible personal property tax cut the governor first proposed.

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