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Florida Economic Forecast: Q2 2024

Economic Development, Economic Forecast, Research

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.

The Taxpayer’s Guide to Florida’s FY2024-25 State Budget

Budget & Appropriations, Research, Taxpayer Guide

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.

2024 Budget Turkey Watch Report

Budget Turkeys, Research

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.

Florida Taxpayer Independence Day 2024

Research, Taxes, Taxpayer Guide

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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