My Point of View of Florida Income Taxes and It's Equivalent Tax , the Real Estate Tax.

My Point of View of Florida Income Taxes and It's Equivalent Tax , the Real Estate Tax.

As Citizens of the State of Florida we have to understand that the State has
two principal tax revenue sources, the first is the Florida Sales tax and
the second is the Real estate taxes charged by the respective Counties of
course there are other methods of Tax funding but, these two are the topics
covered in this discussion.

Most of the States of the Union have a State Income Tax Revenue source in
addition to their Sales Tax Revenue Source. In our State of Florida we have
zero Income Taxes at the individual level and a small Corporate Income Tax. We must also understand that thousands of corporation have elected to
become S Corporations which are exempted for State Income Taxes.

The State of Florida government is tied to the funding sources permitted by
our constitution. So for me is evident that the Real estate Tax is the
substitution for other State Income Tax Revenue.

So those are the major funding sources in place created in our State in
addition to the so called FEES (taxes in disguise) . Our politicians must
understand that economies have contractions and budget and services must be
adjusted accordingly.

Real Estate values have decreased substantially the last couple of years, so
our income tax equivalent (Real Estate Taxes) have decreased. Florida
coffers have been depleted. It is not business as usual.

Services at the State and local levels will have to adapt to the
decrease in budgets due to decrease on tax revenues.

We want a government that we can not afford, our government structure was
created to serve us and not to hurt us. Almost every family, every
taxpayer, every small business is suffering in these economic times and we
have modified our budgets in this contraction.

If we still want a government that we can not afford, then higher taxes are
the solution. We need a government that we can afford and if that means
cutting services to accommodate the shortfall ,so let it be. We can not
mortgage the future of generations to come, it is truly irresponsible and
abuse of power

PADRO & Company, P.A.
Certified Public Accountants
TEL. 305-500-9361 FAX. 305-500-9492
2520 NW 97 Av. Street. Suite 120 Miami. FL. 33172

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Any tax advice included in this written or electronic communication was not
intended or written to be used and it cannot be used by the taxpayer, for
the purpose of avoiding any penalties that may be imposed on the taxpayer by
any governmental taxing authority or agency.