Tax Rollback Update

June 1, 2007 3 comments Open printer friendly version of this article Print Article

This letter just in from Adam Hollingsworth, updating on the situation in Tallahassee.

It appears that the House and Senate negotiators are reaching consensus on the core issues related to property tax reform.  On the good side, the statutory roll back appears to have tiered levels of revenue reductions, depending upon a local government’s prior restraint on increasing property taxes.  That is consistent with the good behavior threshold we have been advocating.  On the down side, the attached letter does not have any numbers…as a result, we don’t know what percentages would be applied and we do not know what the financial impact will be on Jacksonville. We hope to get more clarity on the financial specifics at Monday’s meeting of the Joint Committee on Tax Relief and Reform.  However, there is no certainty that those details will be made public on Monday.  We will let you know as soon as we know more.We appreciate your interest in this critical issue and look forward to answering questions you may have.