Welcoming the World

Florida’s tourism industry is vital to the state’s economy. The industry has a major impact on businesses in various sectors of Florida’s economy, as well as on the revenue provided by the state’s sales and business taxes.

According to the U.S. Travel Association, the travel industry was responsible for more than 826,000 jobs in 2013, or nearly 13 percent of the private industry employment in the state of Florida. These employment numbers ranked second in the nation, trailing only California. Understanding that tourism has such a positive impact on the state of Florida, the question becomes how does Florida best capitalize on our standing as a premier tourist destination?

One area that Florida can target is international tourism. With the recovery of the world economy, international travel across the world is reaching record highs. This, coupled with data showing the major positive impact international tourists have on economies, provides evidence that Florida should expand its efforts when it comes to attracting foreign visitors to the state.

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Florida TaxWatch Provides Analysis of the Governor’s Property Tax Amendment and Legislation, Recommends Florida Taxation and Budget Reform Commission Lead Debate

Florida TaxWatch Provides Analysis of the Governor’s Property Tax Amendment and Legislation, Recommends Florida Taxation and Budget Reform Commission Lead Debate

The Florida Legislature is meeting in special session to consider Governor DeSantis’ proposed constitutional amendment and linked legislation to provide significant property tax relief to Florida homeowners. The proposal has many provisions, but the main ones would increase the homestead exemption to $150,000, beginning January 1, 2027, and then increase it to $250,000, beginning January 1, 2028. This exemption will apply to all property taxes. In addition, the cap on the annual increase in the assessment of non-homestead properties would be reduced from 10% to 5%, but this change would not apply to school property tax levies. Any property taxes remaining after the changes would be restricted to being used solely for core services such as public safety, education, infrastructure, debt, and retirement benefits.

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