More tax breaks are now coming to Floridians -- Gov. Rick Scott signed off on a $180 million tax cut package in Boca Raton on Thursday.
Among the slashed taxes: a cut on business rents, two sales tax holidays and tax cuts for low-income seniors.
The package is a far cry from the $618 million the governor initially proposed cutting in January, but that didn’t stop Scott from touting his accomplishments to reduce taxes for Floridians since he took office in 2011.
“Since I’ve been in office, I’ve fought to cut taxes and reduce burdensome regulations to help boost Florida’s economy and ensure our children and grandchildren have the opportunity to succeed in our great state,” Scott said. “Every time we cut taxes, we are encouraging businesses of all sizes to create opportunities for families across the state and more money is put back in taxpayers’ pockets.”
The tax cut package will include a .2 percent reduction on business rents. Florida is currently the only state to tax business rents.
The package also includes a three-day back-to-school holiday in August on school supplies and a three-day “disaster preparedness holiday” in June in anticipation of hurricane season.
During the hurricane tax holiday, Floridians can purchase items like batteries, generators and flashlights tax free.
HB 7109 also provides tax breaks for low-income seniors through a 50 percent discount in property taxes on some multifamily, low-income housing projects.
The bill also expands the property tax exemption for assisted living facilities beginning in 2017, which would save around $7 million.
State lawmakers chimed in to voice their approval for the package Thursday.
“Governor Scott and the Florida Legislature have worked together for the last several years to reduce the tax burden facing Florida families and businesses in a broad-based and meaningful way,” said Senate President Joe Negron, R-Stuart. “This good bill furthers that commitment.”
Business leaders, too, applauded Scott’s action.
“The most significant steps are often the first ones we take on an issue and this cut opens the door for future reductions of this burdensome tax,” said Florida Realtors president Maria Wells. “More importantly, it puts $61 million back in the hands of businesses to grow and hire more people, and when businesses grow, communities prosper.”
Reach reporter Allison Nielsen by email at allison@sunshinestatenews.com or follow her on Twitter: @AllisonNielsen.