South Florida homeowners react to state's proposed property tax cut
The proposal, which voters will decide in November, would increase the homestead exemption and reduce taxable home values.
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The proposal, which voters will decide in November, would increase the homestead exemption and reduce taxable home values.
The official bill calls for a $150,000 homestead exemption in 2027, followed by a $250,000 exemption in 2028. The legislature would then be tasked with creating a long-term plan for the following years.
The Senate voted 29-6 and the House 88-11 for the tax package, which is estimated to cut state and local revenue by $272.2 million, including $105 million in state general fund revenue in the next fiscal year.
While many applaud the proposal, cities are chiming in, wondering what will happen when they lose that income.
For CBS Miami sports producer Jorge Perez, the ordeal began with a letter from the Internal Revenue Service claiming he failed to file taxes for a company he says he has no connection to.
Francisco Marrero, 79, is facing multiple charges of organized fraud, first-degree grand theft, practicing accounting without a license, and money laundering.
Sen. Elizabeth Warren's bill would raise taxes on households worth more than $50 million and on billionaires.
Venezuela's acting President Delcy Rodríguez is selling investors on a newly opened oil industry and looser U.S. sanctions.
Two Democratic lawmakers are proposing tax reforms that would eliminate federal income taxes for millions of Americans.
Howard Schultz said he and his wife will move to Florida as Washington weighs a roughly 10% annual tax on earnings over $1 million.
Rishi Kapoor is facing multiple charges, including wire fraud, money laundering, failure to pay payroll taxes, tax evasion, failure to file tax returns, and bank fraud.
Florida lawmakers approved a sweeping tax-cut package that would suspend taxes on gun accessories, camping gear and American-made beer.
Miami-Dade County Commissioner Vicki Lopez said essential services would remain the top priority, but added that the debate could push governments to reevaluate their responsibilities.
Workers who claim the new deduction will see an average tax cut of around $1,400, although some could realize larger savings.
If 60 percent of voters approve the measure, it would take effect in the 2027 tax year, but the Senate has not advanced anything similar yet.
Critics have questioned why the federal government should underwrite coverage costs for people with ACA health plans — but almost all health insurance in the U.S. comes with some federal help.
The House Ways & Means Committee voted 10-4 along party lines to limit the cap from 3% increase a year to 3% increase over 3 years.
Treasury Department ends contracts with consulting firm Booz Allen Hamilton after a former contractor leaked tax returns, including info for President Trump.
A new tax deduction for senior citizens is kicking in this tax season, potentially providing bigger refunds to millions, the AARP says.
Taxpayers can start filing their 2025 tax returns on Jan. 26, 2026, the IRS says.
Starting January 1, food-stamp recipients in five U.S. states will face restrictions on using the benefits to buy some sugary foods.
The new tourist tax imposes an 11% tax on the gross fares paid by a cruise ship's passengers to address climate change threats to Hawaii.
Concerns about inflation, tariffs and politics weighed on consumer sentiment in December, The Conference Board said.
Florida Republican Gov. Ron DeSantis outlined his proposed $117 billion state budget Wednesday, as the term-limited executive prepares to leave the state's top office.
President Trump suggested Americans won't have to pay personal income taxes "in the not-too-distant future" because of rising U.S. tariffs.
