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An Analysis of the Tax Treatment of Credit Unions: Value of Florida Credit Unions’ Exemption Is Now $259 Million

Budget/Approps, Cost Savings, Economic Development, Local Government, Research, Taxes

Originally designed to serve specific community segments, credit unions have since expanded their reach and service offerings, making their tax exemptions increasingly valuable. From 1997’s exemption value of $89.1 million, the exemption’s worth has risen to $259 million in 2023. This report sheds light on the industry’s transformations, recent trends like mergers and acquisitions, and reevaluates the rationale behind the tax exemptions. It aims to fuel informed discussions on credit union taxation and their exemption status.

An Update on Student Loan Forgiveness

Cost Savings, Economic Development, Education, Research

Over the past few years, with college tuition growing much faster than income after graduation, the mountain of pending student loan debt is growing. This affects the younger generation’s spending capacity, risk-taking willingness, and retirement savings. Recent debates focus on whether student loan debt should be forgiven, how much should be forgiven, the method of forgiveness, and the impact it would have on the future spending of taxpayers.

ARE BIG PROPERTY VALUE INCREASES GOING TO MEAN BIG TAX INCREASES?

Budget/Approps, Research, Taxes

Florida’s housing market is raging, with growth in property values not seen since the housing bubble. Property appraisers certified the state’s taxable value for 2022 on July 1 and these values are currently being used by local governments and school districts in setting new property tax rates and developing budgets for FY 2022-23. The growth in property values has set the stage for what could be significant tax increases for Florida’s citizens and businesses.

Tony Carvajal Joins Florida TaxWatch as Executive Vice President

Releases

Today, Florida TaxWatch (FTW) announced the appointment of Tony Carvajal as Executive Vice President. Mr. Carvajal succeeds Robert Weissert who is moving to Washington, D.C. to pursue the next chapter of his career after 14 great years with the taxpayer research institute. Along with Mr. Carvajal, TaxWatch also welcomes Carolyn Gosselin as Chief Growth and Strategy Officer, Tanya Bechtold as Director of Investor Relations, and Kat Dunn as Digital Content Manager. Florida TaxWatch is also announcing the promotions of Kurt Wenner and Bob Nave to Senior Vice Presidents of Research and Chris Barry to Vice President of Communications.

Florida TaxWatch In the News (April)

In the News

Florida TaxWatch is constantly looking to spread the word about our research, recommendations, and programs, all in pursuit of serving each and every taxpayer in Florida. Below is just a selection of where we’ve popped up in the last few weeks!

Complete your 2020 census questionnaire. It takes 10 minutes. It’s your civic duty

Op-Eds

As the impact of the Coronavirus, or COVID-19, continues to spread across our state and nation, so too does the uncertainty it brings to every community it touches. Businesses are shuttering. Everything is canceled. Unemployment is climbing at a record pace. And Congress on Friday passed the largest disaster relief bill in our nation’s history, directing trillions of dollars to help beat back the economic impacts of this pandemic. President Trump signed the bill into law late Friday afternoon. We are undoubtedly living in unprecedented and uncertain times, but it is during crises that we see the very best in our fellow Floridians. Over these past days and weeks, many have looked for ways to help and we have a simple suggestion — read your newspaper and complete the 2020 Census.

TaxWatch Report: PACE Program Improves Quality, Lowers Costs for Elderly Medical, Social Care in Florida

Press Releases

TALLAHASSEE, Fla. – Today, Florida TaxWatch (FTW) released its latest report, Program of All-Inclusive Care for the Elderly (PACE) , which finds that participants in this innovative program enjoy a higher quality of care, improved quality of life, and consume services at a lower cost than that of other comparable Medicaid and Medicare programs. PACE is a comprehensive, long-term care program where a single provider is responsible for all primary, acute, and long-term care services, as well as all appropriate social, restorative, and supportive services for adults 55 or older at home or in health care facilities who are certified as needing nursing home level of care.

Sentencing Doesn’t Require Psychic Powers

Blog

As crime in Florida continues to decline and state prison populations continue to exceed 100,000 inmates, policymakers and practitioners are all seeking to mitigate corrections cost by opting for less costly, but just as effective, alternatives.

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