Our Taxing Situation

Every time I get an invoice from one of our real estate industry associations it seems they are asking for voluntary contributions to the real estate lobbing fund. I have been watching with great interest to see the mighty real estate lobby at work in Tallahassee during the property tax sessions. Where have they been? What have they done with all the lobbying money we contribute?

Where has the real estate consortium of industries supporting the real estate industry been hiding? The Dade Teachers Organization spent $170,000 to keep schools exempt. With a graduation rate of less than 50% the teachers are one of the top 10 lobbing groups in our state capital. They sure got results. They are the largest part of our property tax bill and they are exempt from any reduction.

In the meantime real estate got clobbered. Could it be that we don’t spend enough quality time talking to the right people in the Capital? Could it be that we don’t know how to put a consortium of industries together to wonk with us and make our voices heard in the capital? Where were the developers, the mortgage brokers, contractors, construction unions, the financial services when real estate needed their help? They were nowhere. The were to busy getting ready to write off the bad loans and other stuff that they couldn’t figure out how to get off their books. It seems to me to be a little strange that billions can be washed away and only a hand full of CEO’S get fired. How many sales associates are going out of the real estate profession and losing their homes. Marco Rubio is correct in his position that we need a Grass roots rebellion to get this mess corrected.

No one ever said they would not vacation in Florida because of a .02 cent increase in the state sales tax. Many states are higher than Florida now and they are not having any problems attracting tourists.

What happened to all those emerging industries that were given tax exemptions to start their business in Florida? Many of them can now afford to pay their fair share of sales tax and are still getting huge sales tax breaks. I was under the impression that these tax exemptions were reviewed every so many years, maybe it’s time for that review to happen. it certainly is time for our industry leaders to get very active in our state capital and do something about this tragedy that has fallen on our profession. No one cares if it appears that we don’t care.

3 comments on “Our Taxing Situation”

  1. Robert Bishopric Reply

    And those fired CEOs left with many millions in bonuses and pay!

    One of the easiest fixes to Florida’s insane tax situation would be to eliminate all the special interest sales tax exemptions that have piled up over the years. Tax everything that is sold and you’d have another three billion or so.

    Let’s hope the Florida Tax Commission saves us because the politicians sure won’t.

  2. Laura McNaughton Reply

    Peter, I feel the pain. I currently have rental units and my property taxes have increased by over 30% each year while my rentable income has not. I have tried to fight the assessed values over the last three years with no success. Something has to give and although many Floridians only see it as a problem for investors, we all need to worry when the government grows at a much faster rate than its citizens with no relief in sight.

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