Panel puts 25 percent property tax cut on November ballot
March 19, 2008 by Deborah Boza-Va... commentTALLAHASSEE, Fla. (AP) – March 18, 2008 – Florida voters will have a chance in November to approve an across-the-board property tax cut averaging 25 percent, which would dwarf two other tax relief measures enacted over the past year.
The Legislature would be required to replace an estimated $8 billion in annual revenue losses through several options, including a 1 percentage point increase in the present 6 percent statewide sales tax.
The measure approved Monday by the state's tax commission would abolish the portion of property taxes the Legislature requires local school districts to levy in order to qualify for state aid. Other school taxes, which represent a much smaller part of overall tax bills, would be unaffected. The rest of this story...
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Posted in: Taxes
