This blog post outlines the state's response to Hurricanes Helene and Milton and offers tax relief suggestions to ease the economic burden on impacted residents. It emphasizes extending tax deadlines and delaying property tax payments to mitigate financial stress. The recommendations include expanding relief to all affected areas, halting audits, providing refunds for destroyed property, and encouraging local governments to reduce millage rates. Additionally, it advocates for new legislation to refund property taxes for uninhabitable commercial properties and urges Congress to pass a federal Disaster Tax Relief Act.
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A Florida TaxWatch Commentary
This report highlights how Florida’s census undercount, especially of young children, reduces federal funding for key programs like Medicaid and childcare. This funding gap forces the state to rely more on taxpayer dollars. To secure resources and better plan for services, Florida TaxWatch urges Floridians to promote full participation in the 2030 Census.
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Florida’s childcare system is at a crossroads, impacting families, businesses, and the economy. With demand rising and federal funding returning to pre-pandemic levels, the state faces critical questions: Should childcare focus solely on supervision or also provide education? Can sustainable policies close the gap in access? Explore how Florida’s future workforce and economy depend on quality early learning options.
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The 2024 Florida TaxWatch Voter Guide to Florida’s Constitutional Amendments analyzes six proposed amendments on the November 5, 2024, ballot. It provides a summary, fiscal impact, and recommendation for each amendment. These amendments cover topics such as partisan school board elections, a constitutional right to hunt and fish, legalizing recreational marijuana, abortion rights, inflation adjustments to homestead exemptions, and the repeal of public campaign financing. Florida TaxWatch offers recommendations based on thorough analysis, urging voters to use the guide to make informed decisions.
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Budget Watch | October 2024
Florida's Budget Watch report highlights a shift from surpluses to potential deficits starting in FY 2026-27. Despite strong revenue collections, rising costs in education and Medicaid could lead to a $6.9 billion deficit by FY 2027-28. The report emphasizes the need for legislative action now to prevent future financial challenges. Download the full report for more details.
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An Economic Commentary
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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Florida TaxWatch's latest report reviews FDOT's highway landscaping expenditures, which exceed $200 million annually. While the beautification projects provide key benefits like reducing erosion and enhancing safety, the report questions the lack of a spending cap. It explores potential legislative changes to optimize taxpayer investment. Download the full report for insights into these recommendations and the future of Florida’s highway landscaping policies.
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A Florida TaxWatch Commentary
This commentary highlights a looming water crisis in the Sunshine State. Despite its reputation for abundant water resources, Florida could face a significant water supply shortage as early as 2025, according to projections from the Florida Office of Economic and Demographic Research. The report estimates that $1.7 billion in investments for critical water projects is needed by 2040 to avoid a severe shortage. This challenge is exacerbated by Florida's rapid economic and population growth, with an expected 26.4 million residents by 2040. The commentary criticizes current water project funding processes as disjointed and inconsistent, emphasizing the need for a comprehensive statewide strategy. It also discusses recent legislative efforts and proposes solutions, including the implementation of a Five-Year Water Project Work Program.
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The Florida TaxWatch Institute on Quality Health and Aging presents its latest report on the connection between education and health outcomes. This study, part of a series on Social Determinants of Health, reveals how higher education levels correlate with better health, longer lifespans, and reduced healthcare costs. The report explores the economic impact of education on public health and state budgets, emphasizing the importance of early childhood education. It offers valuable insights for policymakers, healthcare professionals, and educators, aiming to guide policies that improve health outcomes and economic prosperity for all Floridians. Download the full report to learn how investing in education can significantly impact Florida's public health and economic future.
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The Florida TaxWatch report reveals the substantial economic and educational contributions of Indian River State College (IRSC) to Florida's Treasure Coast and the broader state economy. IRSC, recognized for its affordability and high-quality programs, plays a pivotal role in workforce development through its extensive certificate and degree offerings. The report emphasizes the college's efforts in minimizing student debt and enhancing job readiness through strategic partnerships with businesses and local schools. Economically, IRSC creates over 15,000 jobs annually and generates a significant economic output, with every dollar spent translating into a substantial return for the Florida economy. This analysis serves as a crucial resource for understanding the intersection of education and economic growth, and the strategic role of community colleges like IRSC in fostering regional economic development.
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Florida's revenue forecast has been updated, adding $2 billion more to the state's budget for the next two years. This is the ninth consecutive increase, driven by strong investment earnings, sales taxes, and corporate income taxes. Despite earlier predictions of slowed growth, revenues continue to exceed expectations, but there are potential risks on the horizon.
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2024 Update
Florida faces a critical teacher shortage, ranking 50th in teacher pay nationwide. Our briefing reveals alarming trends: 10% of courses lack properly certified teachers, and teacher pay has dropped 15.7% in real terms over the past decade. With Florida needing 9.7% more teachers by 2031, the state's educational future hangs in the balance. Our comprehensive report explores the root causes of this crisis, from inadequate compensation to mounting stress, and examines recent policy actions. More importantly, it offers concrete solutions to attract and retain quality educators.
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Florida TaxWatch is pleased to present taxpayers with a guide to the FY2024-25 state budget, which went into effect July 1, 2024. The 2024 Legislature appropriated a total of $118.6 billion for FY2024-25. This Budget Guide includes all appropriations for the new fiscal year— the General Appropriations Act (GAA), “back-of-the-bill” spending, and appropriations made in general bills—net of the Governor’s vetoes.
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Explore the latest insights from Florida TaxWatch's "Property Insurance Briefing" as it delves into the complexities of Florida's property insurance market amidst the 2024 hurricane season. This report examines the instability caused by soaring premiums, driven by litigation and hurricane damages, and discusses the role of Citizens Property Insurance as a critical safety net for over a million Floridians. Highlighting legislative efforts to stabilize the market and initiatives like home hardening to reduce costs, this briefing is essential for anyone affected by or interested in Florida's property insurance challenges. Download the full report for a comprehensive analysis and actionable solutions.
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Q3 (2023-2024)
The Q3 2024 Broward Bond Oversight report highlights significant progress in the SMART Program, with major advancements in technology, safety, and athletics in Broward County schools. All planned technology upgrades and safety projects are complete, improving the student-to-computer ratio and securing campuses. Despite these successes, challenges in renovations persist, with 29 projects likely to miss the October 2025 completion deadline. Leadership transitions and budget adjustments add further complexity. Florida TaxWatch plays a vital role in ensuring transparency and the efficient use of funds, continuing to oversee the program and provide recommendations to address ongoing challenges.
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This report examines the social determinants of health (SDOH), underscoring that environmental and social factors are the primary determinants of health outcomes. Significant barriers to healthcare access include high insurance costs and a large uninsured population, contributing to Florida's low national ranking in healthcare access. Challenges are particularly acute in rural and low-income areas, with a notable dependence on emergency services by uninsured individuals, imposing considerable economic strains.
To address these issues, the report suggests expanding Medicaid eligibility to enhance access and reduce costs, promoting telehealth to connect urban and rural communities, increasing autonomy for nurse practitioners and physician assistants to alleviate physician shortages, and implementing the "Live Healthy Agenda" to elevate healthcare quality and access throughout Florida. These recommendations aim to catalyze systemic changes for a healthier, economically stable state.
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Gain insights into Florida's future economic trends with Florida TaxWatch's latest report. Analyze projections on population trends, job growth, GDP, and the tourism sector's influence. This essential guide offers a strategic outlook crucial for anyone involved in Florida's economic planning or investment.
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The Principal Leadership Awards Roundtable Summary highlights the contributions of 15 outstanding principals who have significantly influenced student achievement under challenging conditions. This document explores effective strategies in teacher retention, school culture, and community engagement, drawn from a roundtable discussion of award-winning principals. It offers practical insights and research-backed recommendations to enhance educational outcomes. Educators and leaders are encouraged to access and utilize this report to foster educational excellence across Florida.
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An analysis of the transparency and accountability of the budget process
Florida TaxWatch is proud to present the 2024 Budget Turkey Watch Report, an annual independent review that has been a staple since 1983. This report scrutinizes the Florida FY2024-25 budget, identifying appropriations that bypass established legislative procedures. Known as Budget Turkeys, these appropriations often serve limited areas, are not core state functions, or circumvent competitive bidding and oversight.
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In 2024, Floridians will spend an average of 107 days working to pay off their tax obligations. The state's total tax burden is estimated at $455 billion, with federal, state, and local taxes accounting for 71%, 15%, and 14%, respectively. Over the past decade, total taxes paid by Floridians have increased by 90%. Despite the challenges, Florida's state tax burden remains one of the lowest in the nation. Download the full report to learn more about the tax landscape in Florida.
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This report analyzes the key aspects of the deal and identifies critical questions that local officials should consider before deciding whether the proposed ballpark is in the best interest of taxpayers.
The report does not draw conclusions on the merits of the deal but instead focuses on outlining the important factors that need to be weighed, such as the total public costs, the best use of public funds, and the fairness of the cost-sharing agreement. While the project is expected to generate significant economic impacts over 30 years, research shows that the benefits of publicly subsidized sports facilities are often overstated.
To learn more about this critical issue affecting the Tampa Bay region, download the full report for an in-depth, independent analysis.
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"2020 Census Participation: How Florida Counties Compare," provides valuable insights into census participation across the state in 2020 and emphasizes the importance of securing a complete count in the upcoming 2030 Census.
The report examines key metrics, highlights the costly impacts of undercounts, and outlines actionable steps businesses and individuals can take now to support a complete count.
With Census Day 2030 approaching, the time to prepare is now. Download the full report to learn more and discover how you can help ensure Florida receives its fair share of federal funding and representation.
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The 2024 Florida Legislative Session Wrap-Up offers a concise yet thorough review of the session's key outcomes. With a $117.5 billion budget, over $1 billion in tax relief, and nearly $10 billion in reserves, the Legislature addressed crucial issues in healthcare, education, insurance, and the environment. The report provides an insightful overview of the bills and budget items that passed, as well as notable legislation that failed to advance, making it an essential resource for understanding the current state of Florida policy and its implications for residents and taxpayers.
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Q2 (2023-2024)
This report for the Broward Bond Oversight Committee offers an insightful overview of the SMART Program's achievements and challenges as it progresses into its tenth year. Broward County Public Schools (BCPS) remains committed to enhancing educational facilities, technology, safety, arts, and athletics through the strategic use of General Obligation Bond funds. Despite facing unforeseen challenges, the program is on track, with significant milestones reached in school safety enhancements and technology upgrades, ensuring an enriched learning environment for students. Financial oversight and community engagement are emphasized as key elements in maintaining transparency and accountability. As BCPS navigates through these complexities, the report underscores a collective effort towards fulfilling the promises made to the community, aiming for the complete execution of the SMART Program by October 31, 2025.
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The Florida TaxWatch's 2024 Legislative Session Taxpayer Roundup report provides a comprehensive overview of significant tax legislation in Florida, highlighting nearly $1 billion in tax relief measures, including toll credits and potential property tax savings through a proposed constitutional amendment. Key successes include substantial tax cuts, sales tax holidays, and new tax credits aimed at supporting employment and child care.
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