Archives - Business: Page 8
Author: rhyco5 (Wed May 02, 2007 11:52 am)
Title: Elimination of property tax in Florida
Florida legislatures are planning to do away with property tax and raise sale tax to an unbelievable 9%. What does this mean for florida? The housing turnover rate in florida will definately decrease. People who seem to move very often in florida will start holding on to their property. There will definately be an increase in the purchase of florida land. However, large purchases such as cars and other items will decrease. Customers are going to go elsewhere for large purchases to avoid the taxes.
I am sure they will. I would drive the hour or less trip into Georgia to purchase a car, boat, or other large items to avoid an astronomical tax like 9%. The only reason they would consider dropping the property tax is because they know the 9% tax increase will more than cover their losses.