- Amendment 5 is a long overdue tax cut for all property owners: families, businesses, second homeowners and investors. Property tax levies have doubled over the past six years – from $15 billion in 2000 to $30 billion in 2006. With higher fuel prices and food costs, and stagnant incomes, it’s no wonder Florida families are struggling to make ends meet. If you’re living the American Dream in Florida, you stand to save 25% to 40% on your property taxes in 2010.
- Amendment 5 will jumpstart Florida’s economy. Economists estimate that Amendment 5 will save property owners more than $10 billion in taxes. This will increase the liquidity and net spendable income of millions of property owners.
- Amendment 5 will shift the burden of funding education from property owners to all who access the public school system. Currently, property owners pay a disproportionate share, compared to renters, for our schools. And property owners whose children attend private school pay tuition and public school taxes. By funding schools through sales taxes and other measures, Amendment 5 creates a more equitable tax system.
- Amendment 5 offers much-needed tax relief for millions of property owners and continues the momentum created by Amendment 1 – approved by voters in January 2008 – toward reforming Florida’s archaic property tax system. Amendment 5 also pressures legislators to get serious about tapping stable and lucrative revenue sources for schools such as Internet sales (a $3 billion cash cow and an increase in state sales tax — much of it paid by non residents!).
- Amendment 5 will provide much-needed tax relief to Florida’s seniors, many of whom fear losing their homes because of an inability to pay higher property taxes on a fixed income. On November 4, you have an unprecedented opportunity to vote YES for the biggest property tax cut in Florida history.Vote YES on Amendment 5.
For more info, please visit: http://www.giveme5florida.com
{ 1 comment… read it below or add one }
Amendment 5 eliminates $9 billion in property taxes dedicated to public education and replaces it with about $3 billion in sales taxes dedicated to public education. The amendment does not replace the other $6 billion beyond the 2010-11 fiscal year.
Raising this missing revenue requires tax increases. Thus tax reductions for property owners must be replaced by taxes imposed on Floridians by other means. We simply shift the tax burden to another class of Floridians.
Sales tax is regressive, imposing a greater burden on those making less money than on those making more money. So we will shift the burden of funding public education from those that can most afford it to those who can least afford it.
You must log in to post a comment.