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I haven't seen this discussed elsewhere. More magic accounting by Republicans designed to give massive tax breaks to the wealthiest among us while hoodwinking the working class fools who support them. Link
"Florida Gov. Ron DeSantis is doubling down on his push to eliminate property taxes in the state, raising questions about how key services would be funded if the effort is successful.
At a press conference on Monday, DeSantis reiterated his support for measures to limit or ban the collection of property taxes at the local level in Florida, which bring in more than $40 billion for the state each year.
"Just for being on your property, you’ve got to write a check to the government every year, so you're basically paying rent to the government to live on your own property," he said. "We're going to be really looking at ways to bring people relief from that, because I think it's been really something that's pinching a lot of homeowners, particularly seniors on fixed income."
........
Numerous economic studies have found that property taxes are among the least damaging forms of taxation—in other words, taxes on real property have less of a negative impact on economic growth when compared to the same revenue raised by sales or income taxes.
Florida is one of seven states that has no income tax, meaning that if property taxes were eliminated, sales taxes, fines, and fees would be the main ways to make up the difference. Florida already has a 6% general sales tax, and the Florida Policy Institute estimates that it would have to be doubled to 12% to make up the revenue shortfall from eliminating property taxes.
A 12% sales tax would be the highest in the nation, and FPI argues that such a high tax on basic goods and services would “disproportionately and negatively” impact households with low to moderate incomes. Tourists, who contribute 14% of all sales tax revenue, and businesses, who pay 20%, would also be hard-hit by the increase, the think tank said.
However, DeSantis responded to the FPI report by insisting that he would not raise sales taxes. "I’m pretty sure the Legislature would not raise the sales tax and I’m quite certain I'd veto any increase," DeSantis commented on X."
"Florida Gov. Ron DeSantis is doubling down on his push to eliminate property taxes in the state, raising questions about how key services would be funded if the effort is successful.
At a press conference on Monday, DeSantis reiterated his support for measures to limit or ban the collection of property taxes at the local level in Florida, which bring in more than $40 billion for the state each year.
"Just for being on your property, you’ve got to write a check to the government every year, so you're basically paying rent to the government to live on your own property," he said. "We're going to be really looking at ways to bring people relief from that, because I think it's been really something that's pinching a lot of homeowners, particularly seniors on fixed income."
........
Numerous economic studies have found that property taxes are among the least damaging forms of taxation—in other words, taxes on real property have less of a negative impact on economic growth when compared to the same revenue raised by sales or income taxes.
Florida is one of seven states that has no income tax, meaning that if property taxes were eliminated, sales taxes, fines, and fees would be the main ways to make up the difference. Florida already has a 6% general sales tax, and the Florida Policy Institute estimates that it would have to be doubled to 12% to make up the revenue shortfall from eliminating property taxes.
A 12% sales tax would be the highest in the nation, and FPI argues that such a high tax on basic goods and services would “disproportionately and negatively” impact households with low to moderate incomes. Tourists, who contribute 14% of all sales tax revenue, and businesses, who pay 20%, would also be hard-hit by the increase, the think tank said.
However, DeSantis responded to the FPI report by insisting that he would not raise sales taxes. "I’m pretty sure the Legislature would not raise the sales tax and I’m quite certain I'd veto any increase," DeSantis commented on X."
