Just over the last two years, Florida Gov. Ron DeSantis and state GOP lawmakers have passed tax cuts to the tune of nearly $4 billion dollars.
In 2022, it was $1.2 billion, which was directed at sales tax holidays for families dealing with hurricane preparedness and cutting the state gas tax by 25.3 cents per gallon in the month of October 2022.
In 2023, that number rose to $2.7 billion in tax relief for the 2023–2024 fiscal year for families and businesses, which made it the largest tax relief in Florida’s history.
From a distance, this year, Republican officials seem to be all over the map on dealing with taxes, ranging from how much to cut to making it more difficult for local government to raise taxes.
In these years 2024 session, more tax relief could be on the way. For the business side, a cut in the commercial lease is being looked at.
The sales-tax holidays will continue but it may come with some changes with fewer days for consumers to act on the savings.
GOP lawmakers don’t foresee another 14-day tax holiday for back-to-school items and a 14-day tax holiday for disaster-preparedness supplies. Instead, proposals being talked about would shorten the tax break from 14 to possibly just seven days.
One GOP Senator said the tax holidays will be “more restricted than last year.” If passed, state Republicans to pay off debt and put more aside in state reserves.
State Rep. Ryan Chamberlain wants to look at alternatives to raising revenue by looking at eliminating local property taxes.
Florida State Sen. Blaise Ingoglia wants to put in a place where local governments, such as city council and county commission, will need a super-majority in support before any taxes are increased.
The Florida House may put a limit on how many years the local tourist-development taxes could be imposed.
For 2024, Gov. DeSantis has asked for just over $1 billion in tax breaks for the next fiscal year, which would continue the sales-tax holiday. Consumers could also see $22 million in savings through an exemption on insurance premium taxes assessed on flood-insurance policies.
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