Author Topic: Tax Rollback Update  (Read 1346 times)

Metro Jacksonville

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Tax Rollback Update
« on: June 01, 2007, 01:15:59 PM »
Tax Rollback Update

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.Thanks!ADAM  

Full Article
http://www.metrojacksonville.com/content/view/456

JUSTDAVE

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LESS TAXES GOOD more taxes bad
« Reply #1 on: June 01, 2007, 10:45:07 PM »
I am very confused or am I
Dave Siebert
vice president Concerned taxpayers of Duval county
intolerent of deadbeat city council members who don't pay child support

spidey

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Latest on tax rollback in today's TU
« Reply #2 on: June 02, 2007, 11:52:26 AM »
House, Senate leaders agree on basics of property tax relief

The Associated Press

TALLAHASSEE, Fla. - House and Senate leaders agreed Friday on a basic outline for property tax relief and restructuring the Legislature will take up at a special session June 12-22.

House Speaker Marco Rubio, R-West Miami, and Senate President Ken Pruitt, R-Port St. Lucie, disclosed the results of behind-the-scenes negotiations in a letter to their colleagues.

They have agreed to take a two-step approach: immediate statutory tax cuts the Legislature can enact on its own and long-range reductions that will require voter approval through passage of one or more amendments to the Florida Constitution.

The statutory cuts that cities and counties would be required to make would be linked to how much they have increased taxes.

"Those jurisdictions whose taxes have grown the most on a per capita basis will be required to reduce them the most," Rubio and Pruitt wrote.

On the other hand, cities and counties, with the lowest increases would face the smallest cuts.

Schools would not be required to reduce taxes but no agreement yet has been reached on how to deal with those mostly rural cities and counties facing financial hardship and special districts lacking other revenue sources, the two leaders wrote. The latter include hospital and fire districts.

The leaders also agreed cities and counties should have a way to override the tax limits through some method such as a vote of governing bodies of more than a simple majority or a local referendum.

The long-term constitutional approach would do away with the existing $25,000 homestead exemption for primary homes and Save Our Homes Amendment, which limits increases in homestead assessments to 3 percent annually.

They would be replaced by a tiered, percentage-based super exemption. For example, the first $100,000 of a home's value might be 70 percent exempt, the next $100,000 would be 50 percent exempt and so on. Homeowners, though, would be able to keep their Save Our Homes benefits if those are better than the super exemption.

The House-Senate Select Committee on Tax Reform will try to come up with percentages and work out other details when it meets Monday.

"It's better than having a rigid dollar amount," said Senate Finance and Tax Committee Chairman Mike Haridopolos, R-Indialantic. "The percentage is a reflection of the economic times."

Rubio and Pruitt rejected a proposal by House Democrats to base the super exemption on a percentage of median home value in each county. That would have soften the financial blow on low-value counties, but it could have created new inequities by taxing nearby, similar homes at different rates just because they are on one or the other side of a county line.

House Democratic Leader Dan Gelber, of Miami Beach, said he was pleased by the agreement but worried it fails to address other aspects of tax relief. Gelber said in a statement that he hoped those issues would be resolved Monday.

"It is without question that this is a complex issue that if not properly addressed will bring our economy to a screeching halt," Gelber said. "As I have said many times, we can't solve one face of this Rubik's cube and then worry about resolving the remaining sides."

Florida Association of Counties Chairwoman Susan Latvala, a Pinellas County commissioner, was "cautiously optimistic" lawmakers are taking into account the need to preserve essential services provided by local governments.

"We appreciate the president and speaker's acknowledgment that a one size approach does not fit all communities by providing an override option," Latvala said in a statement. "In addition, we agree ... all taxpayers should benefit from property tax reform and the inequities within our current structure should be remedied."

http://www.jacksonville.com/apnews/stories/060107/D8PG8HIO0.shtml

gradco2004

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Confused?
« Reply #3 on: June 04, 2007, 12:58:27 PM »
I honestly do not understand what is happening. Can someone break down in layman's terms WTF is going on here?