Everyone wants tax cuts and more property tax exemptions--but this latest one comes at a steep price to our county's budget.
Our budget and finance office sent the below information out to commissioners this week, delineating the costs.....
"The FL Legislature has proposed an additional homestead
exemption of $25,000 that would need to be approved by the voters of the State
of Florida at the November 2024 elections.
The current exemption of $25k would go up to $50k applicable
to assessed property values greater than $50k for all levies excluding the
school district levies. (proposed bill attached)
If this makes it to the voters, i am confident it will pass.
The financial impact to the county based on this information
is a property tax revenue loss of $6,576,949 or $6.6 million based on current
taxable valuation and revenue.
If approved by the voters November 2024, the effective
date is January 1st 2025 and would affect the county budget
for FY25/26, not FY24/25. (based on House or Representatives staff analysis
of the bill)"
5 comments:
Pales in comparison with what the county-by-county impact on what the state of Florida is losing by these GOP idiots in Tallahassee continuing to block the Medicare expansion. Fascism gives with one hand what it takes away ten-fold with the other.
Pales in comparison with what the county-by-county impact on what the state of Florida is losing by these GOP idiots in Tallahassee continuing to block the Medicare expansion. Fascism gives with one hand what it takes away ten-fold with the other.
May have to actually do your job and lead Jeff
I think the short term hit might be 6 million or so, but the overall growth for the county and FL will pay dividends over the long term. Escambia has some of the cheapest property left in FL. If we view this as a positive it can drive positive momentum for more homes, residents, and a higher tax base.
I am sure everything will be fine. Things always work out in the end lets be positive. The key is staying focused an no gloom an doom forecasts. When people are full of gloom an doom its makes them seem like a case of sour grapes.
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