Jan 22, 2008 – Bradenton Herald
Yes on tax cut
Florida's politicians have put voters between a rock and a hard place with Amendment 1. And in this era of sky-high property taxes and runaway government spending, we support passage.
We need to send a strong message to politicians and bureaucrats. Taxes and budgets are out of control. Residents cannot afford to pay them any longer.While Amendment 1 does not fix an inequitable tax system, it does put an estimated $9.3 billion back into taxpayers' hands over five years. That will help rein in government spending, and that's a good thing - one we hope is just the beginning of more meaningful tax reform to come. The public outcry for that needs to continue.
One of the amendment's provisions would increase the homestead exemption from the current $25,000 to $50,000. That would not apply to school property taxes, which usually account for 40 percent of a bill. In effect, the extra exemption makes for a total of $40,000. The average annual savings amounts to $240, and while that is too little, it's a beginning. We rank that as a plus.
Another key provision - portability - enables homeowners to carry their Save Our Homes benefits to another house. Save Our Homes limits annual increases in assessed value to either 3 percent or the level of inflation, whichever one is lower. Thanks to soaring property values during the past few years, longtime homeowners can take up to $500,000 in tax breaks when they move into another house. That's a significant savings on a tax bill, one that many hope will pump life into a wheezing real estate market. That's a plus, too.
A third component gives businesses a tax exemption on the first $25,000 of tangible property like supplies and fixtures - another plus.The amendment also would put a 10 percent cap on non-homesteaded property, though that, too, does not apply to school taxes. Snowbirds, businesses and owners of investment properties would benefit. That 10 percent mark, though, would only come into play during years of skyrocketing real estate values. The jury's still out on this provision.
Now, the one big minus.
We cannot ignore the argument that Amendment 1 serves to make an inequitable tax system even more unfair. Recent homebuyers, snowbirds, investment property owners and business owners already pay a disproportionate share of property taxes compared with longtime homeowners, thanks to Save Our Homes. Boosting the homestead exemption will add to that disparity. The portability provision also favors longtime homeowners whose property values have shot up.
But we have to begin attacking property taxes somewhere. Government must get the message: Stop spending.
We find the outcries about severe cuts in services unconvincing. Before the run-up in property values, we somehow managed to build schools and educate children, provide police and fire protection, and maintain water and sewer lines. Yes, we'll see a drop-off in services. We appreciate the fact that you get what you pay for.
We'll manage just fine.
Our overriding concern is the fact that taxpayers have been footing too big a bill of late. Some critics say the average annual savings of $240 is a joke, only enough to buy an iPod. We say it's a start.
The Legislature may not have the political stomach to bite into property taxes in the coming session. Lawmakers already have billions in budget cuts on their plates thanks to plunging sales tax revenues.
Amendment 1 is far from perfect, but it's all we've got. And it's a start.We urge a Yes vote.
My Comments/Thoughts:
I know we will all be going to the polls on the 29th to vote and while I don’t think the amendment is close to helping people in the long run it is a start. I don’t think it is enough to just write amendment to give temporary tax breaks.
Our city government has made all kinds of ridiculous threats saying that a vote for amendment one will cause a decrease in public safety. My comment to the City of Gainesville would be “then how did you make room in the budget to spend $21,000 dollars to send mail outs to the citizens of Gainesville telling the not to vote for amendment one?” Absolutely ridiculous! That $21,000 dollars should have been spent to synchronize the lights on Archer Road, fix pot holes, or to hire a new fire fighter. Deep down we all know that even if amendment one passes the City will still charge us just as much the will just change the verbiage from “property tax” to “special assessment”.
I think that we, the citizens, need to send a message to our local governments telling them we ware tired of being taxed to death. Every week I have a local resident of Gainesville tell how much they would like to move or downsize, but can’t afford the taxes. One woman even said she “feels like a prisoner of her own home”.
If you are tired of being tax to death send our City and County a real message vote yes on Amendment 1 and then vote the wasteful spending officials!!
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