State economic forecasters added $324.3 million to expected tax revenues during the current budget year, which ends June 30, and the fiscal year that begins the next day. Because lawmakers have already passed a budget covering this year, all of the new money should be available for the spending plan that starts in July.
Taxes
Another Obamacare Surprise: Married Couples Not Eligible For Subsidies Given Single Filers
For middle class married couples who don’t have children, the subsidy cutoff is $62,000. If one spouse makes $30,000 and the other $40,000, they are ineligible for a subsidy when combined. But if they were just living together, each would be eligible for a subsidy.
FPL Customers Will See Power Bills Increase 5% Starting in January, Adding to Other Local Utility Hikes
For Palm Coast residents, the rate increase compounds steeper utility rate increases as the city raised its water and sewer rates 8 percent in April, another 4 percent in October, and will raise them again 4 percent next October. The typical combined annual price increase: $175.
Don’t Slash Government Spending. Increase It.
One of the biggest common misunderstandings is that governments are like households, which need to tighten their spending when times are tough. Actually, governments and households work in opposite ways. Governments can and should spend more when times are tough.
Needed Or Not, Lawmakers Seek 2-Week Tax Holiday for “Hurricane Preparedness”
A big factor in how much of the cuts or tax holidays make it into the next fiscal plan depends in part on the state’s economic outlook that the economists will update prior to the legislative session early next year.
Palm Coast Council Votes 5-0 For New City Hall in Town Center, With Move-In by End of 2015
In the face of intense opposition, but also just as intense support, the Palm Coast City Council Tuesday said Yes to a new city hall. The 5-0 vote followed three hours of presentations, public comment and discussion before an overflow crowd at the Palm Coast Community Center, the largest crowd to turn up for any issue in recent memory.
Palm Coast Again Pitches New City Hall, No Referendum, as Chamber Orchestrates Support
Palm Coast City Manager Jim Landon on Tuesday choreographed a presentation focused on a $9 million city hall in Town Center he said can be built mostly with existing dollars–and without a referendum–as the Flagler Chamber of Commerce and the Palm Coast Observer worked on a letter-writing campaign to sway council members, who may vote on the plan next week.
Palm Coast Getting Fleeced of Red-Light Camera Dollars, Harming Local Economy
In September, the 43 red-light cameras in Palm Coast generated $255,740 in fines, what would work out to an annual total of $3 million. The state and ATS, the private company running the system, took more than seven times the revenue share left Palm Coast, which means that the overwhelming majority of the money is leaving the local economy.
Kiss Your Tax-Free Amazon Orders Goodbye: Company’s I-4 Warehouses On the Way
The confirmation by Amazon.com that it will build a pair of massive “fulfillment” centers along the Interstate 4 corridor means that sometime in the next two years Floridians will have to start paying sales taxes on purchases from the online retail giant.
State Rakes In Cash From Seminole Casinos and Rethinks Gambling Landscape
Under the current deal with the Seminoles, which ends in 2015, the tribe makes the payments to the state in exchange for having the exclusive right to offer banked table games, such as blackjack, along with a monopoly on all slot locations outside of Broward and Miami-Dade counties. The Seminoles agreed to pay a minimum of $150 million in each of the first two years, $233 million in the third and fourth years and $234 million in 2015.