By JEROME R. STOCKFISCH
The Tampa Tribune
Published: April 25, 2008
TALLAHASSEE - Florida voters will decide this fall whether to pony up another penny on the dollar at the cash register in order to slash local property tax bills.
A powerful state constitutional committee decided Thursday to ask voters on Nov. 4 whether to boost the state sales tax from 6 cents to 7 cents on most purchases, excluding food, drugs and some other products. In return, the Legislature would eliminate the portion of local property taxes that goes to schools, which accounts for anywhere from 25 percent to more than 40 percent of a typical tax bill.
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Eliminating local schools taxes - what's known in Tallahassee as the "required local effort" after state and federal funds are funneled to school districts - would strip $7.9 billion from local school budgets statewide this year. An additional penny on the sales tax would have raised $3.9 billion.
The proposal charges the Legislature with making up the rest through a combination of closing sales-tax exemptions that do not "advance or serve a public purpose," spending reductions, the added revenue that would stem from economic growth or from "other revenues."
http://www2.tbo.com/content/2008/apr/25/na-sales-tax-increase-will-be-on-nov-ballot/