Florida Property Tax and Sales Tax to Stay Put For Now
- Dec 4, 2015 | Gail Cole
Florida property taxes are unlikely to be eliminated next year. On the other hand, the sales tax rate is unlikely to skyrocket.
The Florida House Finance & Tax Committee has been considering a proposal that would drastically cut property taxes and greatly increase the state sales tax rate — to approximately 12.72% from the current 6%. Yet committee Chairman Matt Gaetz says he “doesn’t see time being spent in the 2016 session on the measure” because it has little support in the Senate.
The proposal was brought to the committee in October, but this isn’t the first time Florida legislators have considered a property-sales tax switch. When U.S. Senator and presidential candidate Marco Rubio was Speaker of the Florida House in 2007, he pursued a property tax-sales tax swap. His plan was approved by the House “but ignored by the Senate.” No wonder Chairman Gaetz is now wary of pursing a plan that would start with little Senate support.
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