9 Actions Florida Should Take to Help Taxpayers Impacted by Hurricane Ian

1.     Postpone tax notices and waive penalties or interest for late tax filings in affected areas

2.     Extend the date for residents to take advantage of the tax discounts they would normally receive for paying property taxes and special assessments in November and postpone or defer the deadline for property tax installment payments

3.     Protect individual and business taxpayers from the risks for notices that they will likely not receive because their home or business addresses is not accessible anymore

4.     Issue no new audits in severely impacted areas, extend the statute of limitations and postpone existing audits that haven’t reached the assessment stage because these can’t be responded to while entire communities are still recovering

5.     Create procedures for fairly estimating taxes which can’t be calculated because records have been destroyed by the storm, moving away from the current method which significantly overestimates activity if no records are available

6.     Initiate procedures to offer payment plan assistance for late taxes, rather than resorting to the standard collection methods, like liens, levies, or bank freezes

7.     Retroactively apply the recently passed law that provides property tax refunds for residential property rendered uninhabitable as a result of a catastrophic event

8.     Provide tangible personal property relief and allow n on-residential properties rendered uninhabitable to receive property tax refunds

9.     Get Congress to pass a Disaster Tax Relief Act that includes provisions from past packages, including elements such as an Employee Retention Credit, an enhanced casualty loss deduction, and other relief provisions

Other Resources

Florida TaxWatch Statement on Hurricane Ian Recovery

Community Involvement

Florida Voters Continue Their Generosity, Approving $1.9 Billion in Local Tax Increases and Almost $1.0 Billion in Bond Issues

2024 Florida Tax & Bond Referenda

/ Categories: Research, Budget/Approps, Economic Development, Local Government

Florida voters demonstrated strong support for local tax increases and bond issues in the 2023-2024 election cycle, approving 89% of referenda. Voters passed $1.9 billion in annual tax increases and nearly $1 billion in bond issues, primarily targeting schools, infrastructure, and public services. The report highlights Florida's unique reliance on local government funding, with municipalities and special districts providing over 56% of the state's revenue. Despite statewide tax cuts, local taxes are rising with voter approval, reflecting public willingness to invest in community development when they perceive clear value and benefit.

“If You Build It, He Will Come”: Florida TaxWatch Looks At The Tampa Bay Rays’ Ballpark Proposal

/ Categories: Research, Local Government

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.

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

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

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.

A Primer on Salary Rate for State Employees

/ Categories: Research, Local Government

“Annual salary rate” (“salary rate”) means the monetary compensation authorized to be paid a position on an annualized basis. Fringe benefits (e.g., health insurance, retirement contributions, etc.) and other additives (e.g., competitive area differentials, etc.) are not included in the base salary rate associated with a position. 

Using Public-Private Partnerships and Public-Public Partnerships to Meet the Growing Demands for Public Infrastructure

The gap between Florida’s infrastructure needs and what Florida currently has is nearly $2.59 trillion over ten years. By year 2039, a continued underinvestment in Florida’s infrastructure at current rates will have serious economic consequences — $10 trillion in lost Gross Domestic Product (GDP), more than 3 million lost jobs, and $2.4 trillion in lost exports. Two creative solutions are public-private partnerships (PPPs) and public-public partnerships (PUPs). Why then, are there not more PPPs and PUPs? 

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