Are You Ready For A Property Tax Reduction?

Gov. Charlie Crist called for sweeping changes to Florida’s property tax system Tuesday, including allowing homeowners to shift the Save Our Homes tax cap to a new home and doubling the homestead exemption to $50,000.

Crist also wants to extend the 3-percent Save Our Homes tax cap to businesses and rental properties, and would exempt business-owned property worth less than $25,000 from Florida’s tangible personal property tax.

Here is a link to the Governor’s proposal:

http://www.flgov.com/release/8567

So tell us what you think?

Insurance Legislation: Good Solution or Financial Gamble?

The Florida House and Senate yesterday passed legislation to address the State's insurance crisis. It now awaits Governor Crist's signature.

For an easy to understand explanation of what was approved click on the link below:

http://www.news-press.com/apps/pbcs.dll/article?AID=/20070123/SS04/70123001/1075

Tell us what you think about the legislature's action:

Is it a good solution and/or will it end up costing us all more tax money?

STRAW POLL: FINAL RESULTS

The Straw Poll final results, as of this evening (91 participants):

(1) The Marion/Ocala EDC is working with county, City of Ocala and state officials to put together an economic package to keep E-One in Marion County.

Should E-One be offered taxpayer-supported economic advantages in the range of $14 million to keep it from leaving Marion County?

48% - Yes
52% - No

(2) A simple explanation of Zero-Based Budgeting is basically requiring departments to justify and prepare their budget on the basis of “what resources (financial and otherwise) would you need to operate if you were starting as a new department”.

Do you think the County Commissioners should require the Zero-Based approach for County Departments in place of the current approach of starting from a base of what did they spend last year?

86% - Yes
14% - No

Thanks for participating!

Minimum Wage Increase: Hurt or Help Our Economy?

As the Democrats promised, they have gained approval in the U.S. House to raise the Federal minimum wage from $5.15 an hour to $7.25 an hour. The measure passed by a 315-116 vote, with many Republicans joining in and voting for the increase. The measure is now in the Senate for consideration. President Bush is not in favor of the increase.

The minimum wage would move from $5.15 to $5.85 in 60 days after the law is enacted, then to $6.55 a year later and to $7.25 a year after that. Florida’s minimum already exceeds the Federal minimum. We are at $6.67 (effective 1/1/07), up from $6.40 last year.

This is the first increase in the minimum wage in 10 years. Some feel this increase will hurt employment chances for low-wage workers. Others say it is long overdue.

Is the change a good one and how will it impact our local economy? Tell us what you think.

Note: Check out the “Open Thread” below this one for discussion of several other current issues.