Homeowners, lawmakers gain from GOP tax reform. Is it fair? [Florida]
The Republican House leadership says its proposal to eliminate taxes on homesteaded properties while increasing the sales tax from 6 percent to 8.5 percent is a bold attempt to address inequities dogging the current system.
Critics say the proposal would hurt the poor, renters and others, but an Associated Press check of property records shows one of the groups that would do well: the Republican House leadership. Most would save thousands unless they are exorbitant spenders.
House Speaker Marco Rubio wouldn’t have to pay the roughly $13,100 he paid in property taxes on his half-million-dollar West Miami home last year, for example. To make up for that hit to local government coffers, Rubio would have to spend about $525,000 a year on taxable goods under the higher sales tax, which would continue the exemption for food and medicine. His government salary is about $30,000 and he has a $300,000 a year job with the law firm Broad and Cassel.