Quote:
Originally Posted by golfing eagles
In what way?
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Fire service funding today is $124 plus a portion of your property tax (about 1.65mils). Since property tax is based on taxable value which is different for your home and your neighbor's, you each pay a slightly different amount for fire service today.
(NOTE: 1.65mils covers both VPSD and SCFD. Under the IFD you should only be paying for the VPSD)
IFD funding is $124 + 0.75 mils on improved value + zero to 1 mil on taxable value.
- improved value will be slightly different for you and your neighbor
- taxable value will be slightly different for you and your neighbor
- you and your neighbor will pay different amounts but it will be a small difference.
IFD funding is capped at 0.75 mils for the "simplified" tier and 1 mil for the ad-valorem tier. There is a $10M cap on improved value but as Don points out earlier, residential properties won't touch that and only a handful of commercial properties do.
See also:
- Post #3 above
- IFD FAQ sheet on VPSD page
- tax estimator on VPSD page
- Florida bill allowing the IFD
- Referendum for the IFD
- League of Women Voters tax estimator at lwvtrifl.org