Florida's Property Tax Crisis
Many Florida homeowners complain they have faced dramatic property tax increases in recent years, as property values have risen sharply. Governor Bush recently appointed a Property Tax Reform Committee to make recommendations on how to improve property taxation in Florida. These recommendations to the Governor, the Legislature, and the Taxation and Budget Reform Commission are to be guided by concerns for equity, compliance, economic competitiveness, economic neutrality and fiscal balance. The Committee is directed to discuss the consequences of current property tax exemptions and assessment differentials, as well as the appropriateness, affordability and economic consequences of property taxation levels in Florida.