Melbourne Area Blog

The Taxation and Budget Reform Committee (which meets once every twenty years) has voted to put another property tax change on the November Ballot.

This amendment would in effect cut property taxes by approximately 25% and replace the revenue with a 1 cent sales tax hike. In the past Florida voter's have voted down any sales tax hike, however with the slowing economy it may stand a chance.

The 25% property tax cut would do away with the portion of property taxes the state requires school districts to levy in order to qualify for state funds. This would require the legislature to to replace the education funds by increasing the sales tax 1 cent, closing sales tax loopholes, cutting the budget or any combination of these three.

There will be two more votes on this proposal before it will actually clear the committee to be put on the ballot.