News from the South - Florida News Feed
Florida retains 4th in tax competitiveness report | Florida
SUMMARY: A Tax Foundation report ranked Florida fourth in tax competitiveness, highlighting its lack of a personal income tax as a key advantage. Florida scored first for individual taxes, 14th for sales taxes, 16th for corporate taxes, and 21st for property taxes. The state has a competitive 5.5% corporate income tax and a 4% sales tax, with an average combined local tax of 7%. Critiques included the limited first-year expensing of machinery and a low personal property exemption of $25,000. Despite methodological changes in the report, Florida maintained its ranking since 2020, leading the Southeast region.
The post Florida retains 4th in tax competitiveness report | Florida appeared first on www.thecentersquare.com
News from the South - Florida News Feed
Tax rebates for Florida homeowners? This new bill could make it happen
SUMMARY: Property taxes are a contentious issue in Florida, with lawmakers exploring various options for reform. State Senator Blaise Ingoglia has introduced bill SB 1308, which proposes tax rebates on property taxes, allowing homeowners to retain more of their money. The bill would enable counties to establish rebate programs, although participation would depend on local governments. Additional proposals include raising homestead exemptions and a study on abolishing property taxes entirely. Governor Ron DeSantis supports these initiatives, highlighting the financial burden on homeowners. While these changes could alleviate costs for residents, concerns remain about the impact on local government funding.
The post Tax rebates for Florida homeowners? This new bill could make it happen appeared first on www.clickorlando.com
News from the South - Florida News Feed
Insurance experts weigh in on Florida Lawmakers insurance industry investigation
SUMMARY: Florida lawmakers are examining the insurance industry following a 2022 report by Risk & Regulatory Consulting, LLC, which analyzed financial data from 53 insurers from 2017 to 2019, post-hurricanes Irma and Michael. The report reveals these insurers reported $61 million in net income, while their affiliates, known as Managing General Agents (MGAs), garnered $14 billion. Critics like Doug Quinn from the American Policyholder Association argue that rising premiums and claims of fraud led insurers to financial distress, leaving many without coverage. Advocates call for increased transparency in financial dealings within the industry. Former deputy insurance commissioner Lisa Miller noted the report lacks crucial details.
The post Insurance experts weigh in on Florida Lawmakers insurance industry investigation appeared first on www.abcactionnews.com
News from the South - Florida News Feed
Florida man shot sheriff's office drone, rammed fences in neighborhood rampage: Deputies
SUMMARY: A Florida man, Justin Crest, has been accused of a neighborhood rampage in Lake County, where he allegedly shot down a sheriff’s drone, rammed fences, and threatened neighbors. Deputies responded to complaints after Crest damaged property and fired shots at dogs. During the incident, he aimed a shotgun at the drone, destroying it, leading to a standoff with SWAT. Neighbors reported over $10,000 in damages from the destruction. Crest faces felony criminal mischief charges, but the motive behind his actions remains unclear as he has not provided an explanation.

Authorities in Lake County say Justin Kress caused widespread destruction in a rural neighborhood near Eustis. According to …
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