On Tuesday, Florida TaxWatch (FTW) released the 2020 edition of its annual “How Florida Compares: Taxes” report.
The “FTW How Florida Compares: Taxes” report is an easy-to-use guide to help Floridians better understand their state by comparing Florida’s taxes to those that are levied across the nation. The report, which is part of FTW’s larger “How Florida Compares” series, provides nonpartisan information on where Florida ranks and contains nearly 40 tables, graphs, and charts that provide a comprehensive look at tax collections and other government revenues for all 50 states.
The “FTW How Florida Compares: Taxes” report found that Floridians continue to enjoy relatively low tax burdens compared to the rest of the nation, but that the state’s tax and revenue rankings are rising. For the third year in a row, Floridians “Per Capita State and Local Own Source Revenue” ranking rose slightly, reaching 38th in FY2017-18, totaling $6,352 per capita. This ranking is up one spot from the previous year and four spots from FY2014-15. However, at $6,352, Florida’s tax burden is about half of 1st ranked New York and nearly 20 percent below the national average.
Former state Sen. Pat Neal, the chairman of Florida TaxWatch, weighed in on the new report.
“Florida TaxWatch is proud to once again present the ‘How Florida Compares: Taxes’ report. This annual report is an important tool for taxpayers, policymakers, and elected leaders at the state and local levels to better understand just how the Sunshine State stacks up when it comes to the cost of government. Informed taxpayers keep government accountable, taxes in check, and are driving the growth of Florida as a premier choice for families and businesses,” Neal said on Tuesday.
“As our state continues to battle the COVID-19 pandemic and state and local leaders prepare for tough budget decisions in the months ahead, the importance of Florida TaxWatch’s ‘How Florida Compares: Taxes’ report could not be more clear. Today, it is essential that taxpayers and government officials at every level understand the true cost of government. The information presented in this report, especially regarding Florida’s heavy reliance on local taxes, should help guide decisions for Florida’s recovery,” said Florida TaxWatch President and CEO Dominic Calabro.
According to FTW’s research, while Florida’s state tax and revenue burdens are very low compared to the other states, local tax burdens are much higher. Florida’s “Per Capita State Own Source Revenue” and “Per Capita State Tax Collections” rank 48th and 50th, respectively, whereas “Per Capita Local Own Source Revenue” and “Per Capita Local Tax Collections” rank 16th and 28th, respectfully.