Tax Caps Make Headlines
Georgia moves to restrict property tax assessment
Last week the Georgia House passed a provision to cap growth in property assessments. The move would restrict so-called “back door tax increases” that local governments use to boost revenue without actually raising tax rates. The bill was approved in a Senate committee this week and will go the entire Senate for final approval.
The move has angered local legislators and school districts who are worried that the property assessment cap will leave them with large budget shortfalls.
Click HERE to read the article from the Atlanta Journal-Constitution.
Florida considers TABOR-like proposal
The Florida Taxation and Budget Reform Commission is currently considering a Constitutional amendment proposal that would limit the state’s revenue collection.
This plan, which closely resembles a taxpayer bill of rights (TABOR), would restrict revenue increases to the rate of inflation and population growth plus one percentage point. Additionally under the bill, any new taxes or fees imposed by the city, county, or state would need voter approval.
Click HERE to read the full article from the Miami Herald.