Monday marked Taxpayer Independence Day for Floridians. This means every cent Florida workers earned until Monday, on average, goes to pay taxes. Florida TaxWatch estimates that to be around $261 billion in federal, state and local taxes.
State CFO Jeff Atwater noted on Monday that Floridians pay less taxes than the national average (with the national Taxpayer Independence Day falling later this week) and pointed out other big states wont mark their own tax independence days until much later: Illinois on April 30, California on May 3, New York on May 8.
It should come as no surprise that residents are moving away from states with high tax burdens and coming to Florida, said Atwater on Monday. In addition to the most beautiful beaches and weather in the nation, Florida boasts some of the lowest taxes around. With no estate, inheritance, or income taxes, it is clear that Florida is committed to operating as efficiently and responsibly as possible so that more of Floridians money can stay where it belongs -- in the pockets of those who have earned it.
Florida TaxWatch released a study comparing Floridians tax burdens with the rest of the country on Friday.
"Taxpayer Independence Day is certainly a celebration, but it truly shows Floridians the presence that different levels of government have in their daily lives, and in their paycheck," said Dominic Calabro, the president and CEO of Florida TaxWatch.
"Taxpayer Independence Day helps Floridians evaluate the cost of government and understand how our tax burden lines up with those across the nation," Calabro added. "Taxpayer Independence Day proves that Florida is a taxpayer-friendly state, and that Floridians' state and local tax burden remains low compared to the federal tax burden."
Taxpayer independence for Floridians comes one day later than it did last year, mostly due to steady growth in the recovering economy, which is increasing tax collections, noted Kurt Wenner, Florida TaxWatchs VP for research, in the report. Although Floridians personal income is also increasing, Floridians total tax bill is expected to rise a bit faster. This will be the fourth year in a row Taxpayer Independence Day has come later than the prior year, despite a commitment by the Florida Legislature to reduce taxes.
Reach Kevin Derby at kderby@sunshinestatenews.com or follow him on Twitter: @KevinDerbySSN
