Southwest Florida Real Estate Blog Good, Bad, and maybe real Ugly
| Good, Bad, and maybe real Ugly |
 |
 |
 |
| Written by Greg Snow |
| Wednesday, 11 February 2009 11:10 |
|
While reading some of the news out of Tallahassee, an AP story, www.ap.org. commented on a pair of tax relief measures which have passed in the last two years. These have have helped reduce property taxes for Floridans after three decades of steady increases according to reports presented Tuesday in the state Senate. Starting in reverse, the Ugly may be for Lee County, wFlorida a school district cut of as much as $70 million and 800 jobs for the next academic year. www.lee.k12.fl.us The Good was a 2007 Legislature ordered tax rate rollback and a 2008 voter approved tax cutting amendment which reduced collections almost 6 percent. Prior to this, the previous 32 years average 10 percent annual increases. School property taxes are exempt from parts of the tax relief measures, but now for Ugly, they are dropping because of decling property values across the state. Current anticipated revenue shortfall is at least $6 Billion, instead of $4 Billion in the next budget year beginning July 1. Can lawmakers increase local school tax rates or locate state money to replace this money? Check in with them at www.leg.state.fl.us Amending the Florida Constitution requires a three quarters favorable vote in each chamber to call a special election to amend the constitution this year, which means more money out of pocket to hold an off year election. Three fifths vote would allow an amendment to be put on the 2010 general election ballot.
|
Lee County Real Estate News
