New General Revenue Estimates Add Another $5.3 Billion to Amount Available for the Next Budget
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. |
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. |
Schools are not immune to the workforce shortages plaguing all sectors of our economy. In preparation for the start of the school year, hiring enough teachers and staff members to satisfy vacancies has been a challenge for school districts. |
The economic importance of early childhood education extends far beyond the direct development benefits for children and the associated long-term outcomes. |
An undercount is nothing new to Florida, but its current persistence inflicts costs more formidable than in previous years. Throughout the decade, Floridians can expect to lose between $11 billion and $21 billion. The decennial Census count and American Community Survey (ACS) help communities understand local patterns of population growth, specialized workers, income, employment statuses, and transportation needs. |
Florida TaxWatch is pleased to present taxpayers with a guide to the FY2022-23 state budget, which went into effect July 1, 2022. The report includes all appropriations for the new fiscal year— the General Appropriations Act (GAA), “back-of-bill” spending, and general bills—net of the Governor’s vetoes. |
Advancing Florida’s standing on the global stage requires a state economy conducive to innovation, capable of withstanding disruptions, and constantly cultivating talent. A robust manufacturing sector stands at the crossroads of these priorities and, as the COVID-19 pandemic demonstrated, the sector’s importance cannot be understated. |
SMART Program Quarterly Report Review for the Quarter Ended March 31, 2022
In early June, Florida TaxWatch received the Bond Oversight Committee Quarterly Report for the Quarter Ended March 31, 2022 (“Quarterly Report”). This report provides updated information on the implementation of the District’s SMART Program and the use of general obligation bond funds to purchase and install technology upgrades, purchase music and arts equipment, improve school safety, upgrade athletic facilities, and renovate educational facilities. |
In 2019, with the SAIL to 60 Initiative, Florida aimed for 60 percent of working-age Floridians to hold a workforce specialization, whether from a certificate, credential, training, or degree. Currently, Florida has yet to reach this goal, falling 791,000 people short, and its individual populations are working toward the goal at incomparable rates. |
When the pandemic began the U.S. Department of Agriculture (USDA) extended free meals to school-age children all year long, including the summer months. The program will no longer be available at the end of this school year and many food insecure families are now facing a summer without school food assistance programs. The situation is made even more dire as inflation and the cost-of-living soars, leaving millions of individuals and families in critical need of year-round nutritional assistance. |
Florida is facing a property insurance crisis and the governor has called the legislature back to Tallahassee, May 23-27, to tackle the issue. While the proposed bills to be discussed have not been filed yet, the Governor’s proclamation announcing the special session suggests areas that should be addressed, including reinsurance, building codes, litigation reform, and Citizens Property Insurance. Why is this such a pressing issue? |
Critical for Florida’s continued innovation, growth, and diversification, international trade must be a key priority in the dynamic post-pandemic economy. |