Research Library

Florida Workforce Update

/ Categories: Research

A robust economy is a staple for securing high tax revenue and boosting the well-being of taxpayers. Although Florida’s economy enjoys a strong rebound with historically low unemployment, the dynamic of its workforce has changed since the onset of the COVID-19 pandemic, shuffling where opportunities lie and surfacing new challenges.

How the Stop WOKE Act Will Impact Florida's Employers

/ Categories: Research, Blog

On Wednesday, August 17, Florida TaxWatch and the Gunster law firm co-hosted a webinar designed to help Florida businesses better understand and comply with the requirements of the Individual Freedom Act (also known as the “Stop WOKE” Act) passed by the 2022 Florida Legislature. Florida TaxWatch is grateful to Holly Goodman and Joseph Santoro of the Gunster law firm for sharing their insights on the effects of this controversial legislation on Florida businesses. Florida TaxWatch is pleased to present the following summary of the webinar.

FY2021-22 Revenue Collections Beat Estimate by $3.8 Billion

New General Revenue Estimates Add Another $5.3 Billion to Amount Available for the Next Budget

/ Categories: Research, Budget/Approps

The Revenue Estimating Conference (REC) met on August 16, 2022, to develop the state’s new forecast for general revenue (GR) collections. After the close of FY2021-22, which wildly exceed revenue expectations, the REC increased the estimates for FY2022-23 and 2023-24 by a total of $5.3 billion.

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

/ Categories: Research, Taxes, Budget/Approps

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.

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