Property Tax/Save Our Homes Issue - I am curious about the general perception people have about something. In the recent elction there was a lot of conversation about expanding "Save Our Homes" protections, and/or increasing the Homestead Exemption. There is also a great deal of concern over rising taxes on rental and commercial properties, particularly small businesses, but in reality all business. There is a direct link between increasing homestead protections and shifting more and more tax burden onto rentals, commercial property, and second homeowners, who are also an important part of this economy. I suppose my question is this - do you think people in general see these relationships, or do they compartmentalize them and see only the one that helps their immediate financial circumstance?
posted by Michael McNees at 1:52 PM
3 Comments:
I'll answer your question with another one. Would federal income tax law be so convoluted and full of holes if progressive taxation was generally accepted as more fair to all people?
Same goes for real property tax. I never met a loop hole that I didn't like. And, our solons bring home the pork to cheers of "job well done".
I imagine that we would be more attentive to the taxation process if we weren't so preoccupied with trying to find ways to avoid it at the expense of our neighbors.
Haven't our taxing authorities been doing handsprings in recent years over the increased revenue brought about by increased taxable value? Meanwhile, there is a great hew and cry for more loop holes. How about some accountability? So, we eliminate the "save our homes", and maybe replace it with a larger flat homestead exemption ($50,000?) for assessed values below $200,000 as a safety net. At least then we'd all be in the same boat, and could gang up on the taxing authorities instead of whipping ourselves up in search of more special treatment.
I cannot see increasing homestead exemptions to $50K because we already have the save our home tax increase of only 3%. By saving more and more for homeowners, we encourage homeowners requesting higher standards of service (they are not paying for it) and business and commercial property taxes are increased disportionately without much to say about it. What I hate most about reading my tax bill is not the amount I pay to the City of Sarasota or even the County but the amount I pay to the school board and the hospital; Those figures are so high and yet, nobody seems to scream and yell at them for taking so much of our money, why not, they are so much more than everything else on our tax bills?
I'm not sure that the public understands that they pay that tax on commercial property every time they spend money at a Sarasota business. Go out for breakfast in New York City. It's cheaper than in Sarasota. Why? Commercial property taxes are calculated based on the property's rental income, not based on the fact that if they tear it down they can build million dollar condos. That keeps the rents lower and you don't have businesses forced out because a restaurant can't support the huge property taxes that would be charged for such a property in Sarasota. Unfortunately it will take a change in the FL Constitution to make that happen here.
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