Tax policy news covering federal and state tax legislation, IRS rules, corporate and individual tax debates, and revenue and deduction changes.
Florida Governor Ron DeSantis has adopted a tax-the-rich stance regarding property taxes, according to the Tampa Bay Times. This marks a shift from his previous positions and comes amid ongoing debate over property tax reform in Florida.
The Australian Labor government will not lower the tobacco excise, citing a focus on tougher laws against organized crime. ABS data shows 80% of cigarettes and vapes consumed in 2025 were illegal, as high prices drive the black market.
This commentary explains Florida's proposed homestead property tax amendment, clarifying misconceptions about its scope and impact. It argues that the amendment does not eliminate property taxes entirely but provides exemptions up to $250,000, and details the potential revenue losses for local governments.
Miami-Dade Mayor Daniella Levine Cava argues that Florida's proposal to gut property taxes would be catastrophic for the county, citing specific revenue losses and service cuts. She contends that the plan would dismantle essential services like police, fire rescue, and schools without a viable replacement, shifting costs onto renters and businesses.
This commentary argues that Florida lawmakers' proposed property tax cuts could significantly reduce funding for public schools, potentially harming educational quality. It contends that while tax relief is popular, the trade-offs for school budgets and services must be carefully considered.