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Senator Says Tax Swap Would Swamp Floridian With Taxes

April 21st, 2008 by flanews

A property tax cut you could vote on in November is being challenged by a state senator. Later this week the Taxation and Budget Reform Commission will vote on a plan that would cut property tax by 25 percent and raise the state sales tax by a penny. Cutting property tax by 25 percent would reduce school funding by more than 8 billion dollars, while early estimates show a penny sales tax increase wouldnt raise near as much. Senator Mike Haridopolos said the plan will actually increase taxes in the long run.

People are going to think this is some major tax decrease in exchange for a one penny sales tax. Thats far from the truth and we just want to make sure all the information is out there so people can make an informed decision and it doesnt get framed as a tax break when in fact it is just the opposite, said Haridopolos.

If the Taxation and Budget Reform Commission approves the plan, then it would be in the hands of voters in November.

Posted in Property Taxes, State Budget, Taxes, Voting | No Comments »

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