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Originally Posted by justjim
I've seen conservative estimates of the "underground economy" of 2 trillion dollars a year. If all taxes were collected and used to bring down the debt......... We could reduce all taxes significantly-----but dont hold your breath. How much money goes uncollected in Florida for the rental tax is anybody's guess. I know some believe it's an "unfair" tax and would like to see it eliminated or at least reduced. 9% is a hearty amount and few states have such a tax.
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Dare County, NC is 12.75%. It is high. As a result of the higher taxes, South Nags Head was able to do beach nourishment without a penny of federal funding. This saved houses and jobs. It is a barrier island that probably should never have built to the extent it did. In order to avoid any more houses falling into the ocean, the county has taken it upon itself to handle the situation. Yes, it cost owners and visitors money, that is the cost of making poor decisions in the past. The alternative would be devastating to the year round residents that depend on the hospitality industry to make a living.
We pay 9% for the rentals we have in the villa we own in The Villages until we can retire. It is not an unfair tax. We are benefiting from the rental income. Why shouldn't we pay our fair share?