love your comment!!!!!!!!!!!!!

Not sure why a followup to a funny comment was reacted to in such a hateful manner, so I did some research on "how to handle a grumpy old man". Turns out, it is called male menopause. Look it up. BTW, Kevin Bacon got his start on a soap opera. The Guiding Light. That, MASH, and the Muppets got me through college.

What taxes? Property?...nope, those do not go to the state. Income?...nope, Florida has no state income tax, and none is coming. Sales and use tax?...possibly, but not likely. Stamp tax?...again, possibly. Florida has no death tax. Florida taxes on stocks and bonds was repealed in 2007. The state will more than likely have to go to the feds if they need to get bailed out. That may result in federal income tax increases, but that's the only thing I see happening, and that would probably be a minor increase. The national debt is what's going to take a big hit.

Homestead property taxes. Same in all states only a little worse here due to permanent homestead Caps the yearly mil rate increases at CPI. Florida average property tax is slightly under national average. All you have to do is move your permanent residency to Florida and part time in your old home state, and stay in Florida at least 6 months a year.

Not exactly. Increases in the assessed value of your homesteaded property are capped, not the millage rate.

Higher Taxes inevitable
 

And necessary. You can't have the common good, e.g., bridges that don't fall down, without taxes. The USA, and Florida in particular, live in a la-la land of extremely low and unsustainable tax levels.

To all of you negative Nellies, I bet you didn't read the state budget when it was passed nor have you talked to your state representatives about spending levels.

Well I actually did back in January. The state has passed a budget with approximately 4.9 billion dollars has a surplus to be held in reserve. Further our Representatives on both sides of the Isles are relatively conservative when it comes to spending money. There is actually a lot of leeway when it comes to spending money such as Road reconstruction building, new projects and many other areas. I bet we'll all be surprised when things open up how fast tourism restarts and taxes are collected.

Are they???

We didn't raise taxes on a 25 trillion dollar national debt, so why is it "inevitable" that they are raised on a 29 trillion debt?

You know that CARES free monies you got? That was just pay it forward money. You’ll be giving it back in some way or another.

Maybe if we had a small state income tax over the years, the state would have been better prepared for growth and not completely beholden to developers. As a 40 year permanent resident, I’ve believed revenue from earned income wage earners would have made a huge difference as the state developed. Remember, income taxes can be defined to impact retirees without substantial income less dramatically.

Lots of moving parts in today's market that weren't so prominent 4+ months ago. Interest rates are more likely to rise, inflation is more likely to occur, loss of revenue is happening (from lost jobs), etc. These all contribute to a much different dynamic. The Fed has tried to respond but they don't have many tools left to deploy at this point. I hope interest rates do not go up, that there is no inflation and that jobs are recovered as quickly as they were lost.

While I "hope" that is true, the more likely scenario is not as optimistic. The issue is what level of federal debt is "appropriate" and more importantly, at what point does that level become unsustainable. That is when revenues have to increase or spending has to decrease. Unless there are other levers to pull (such as cutting spending or raising revenue in other ways), taxes become the one certain tool. Another point, the federal government has mechanisms available to it that states do not have. States do not have the ability to print money so their options for dealing with a revenue shortfall are much more limited.

Lake County
 

I was amazed looking on web at lady lake the villages property taxes with bond. Typical designer home around
$10,000. Same hm in Sumter with bond around $5,000.
Did I read something wrong?

Are they???
 

They are already backing $6.2 trillion in bailout grants and they just added another $.5T last week. Now their talking about bailing out the States, $T? That's just what they are spending; when you add to that all the loss in IRS tax income, it will be closer to $10 trillion.

Smart. New Hampshire has not state income tax. Most of the state's revenue comes from tourism. We should do the same. We should have not income tax, not sales tax and no property tax. Tax restaurant meals attractions and hotel room at a higher level.

Yes, but the lines at Disney will be shorter!