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Comments by Florida TaxWatch President and CEO Dominic M. Calabro to Chair Joe Gruters and Members of the Senate Regulated Industries Committee on Tues., March 21, 2023, Regarding SB 1432 – Communicat

Releases
/ Releases / 3 minutes of reading

Florida TaxWatch has done considerable research on the communications services tax (CST) and has concluded that Florida’s CST rate is very high, relative to both other states and the sales tax on the purchase of other goods. A reduction in the tax rate would provide several benefits for taxpayers and the state.

Florida Voters Continue Their Generosity, Approving $1.9 Billion in Local Tax Increases and Almost $1.0 Billion in Bond Issues

Budget/Approps, Economic Development, Local Government, Research
/ Budget/Approps, Economic Development, Local Government, Research / 1 minute of reading

Florida voters demonstrated strong support for local tax increases and bond issues in the 2023-2024 election cycle, approving 89% of referenda. Voters passed $1.9 billion in annual tax increases and nearly $1 billion in bond issues, primarily targeting schools, infrastructure, and public services. The report highlights Florida’s unique reliance on local government funding, with municipalities and special districts providing over 56% of the state’s revenue. Despite statewide tax cuts, local taxes are rising with voter approval, reflecting public willingness to invest in community development when they perceive clear value and benefit.

Florida Economic Forecast: Q2 2024

Economic Development, Economic Forecast, Research
/ Economic Development, Economic Forecast, Research / 1 minute of reading

Florida’s economy reached $1.58 trillion in 2023, but growth is expected to slow in the coming years. The report covers key projections, including slower population growth, a slight rise in unemployment, and continued tourism growth, with over 170 million visitors expected by 2029. Despite the slower pace, Florida’s economy remains robust, driven by tourism and real estate. Download the full report for a detailed analysis and outlook through 2029.

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