The Parent Plus program allows parents to take out essentially uncapped amounts to cover college costs, regardless of the borrower’s income or ability to repay the loan. But default rates, while still modest, have nearly tripled over the last four years.
Taxes
Red-Light Cameras Won’t Be Repealed This Year, But Restrictions on Profits May Yet Pass
Red-light cameras’ powerful lobby defeated Senate Transportation Chairman Jeff Brandes’s attempt to end the use of the devices, but several proposed restrictions are still moving through the Legislature, such as limiting profits to safety uses and requiring safety studies before cameras can be installed.
As March 31 Deadline Nears: Going Without Health Insurance Will Likely Cost You At Tax Time
If you thought you could get health coverage later this year, you may not get that chance until November, which means that you’ll most likely have to pay a penalty of 1 percent of your income at tax time, even if only a single member of your family is not insured. Penalties rise in subsequent years.
Palm Coast’s Red-Light Cameras: How the City Council Locked In a Fraud on Taxpayers Through 2019
Palm Coast’s red-light cameras siphon off more than $2.5 million out of the local economy every year, in the share that goes to the state and to ATS, the company that runs the scheme, yet the city council quietly approved the deal through 2019, long past the terms of every one of the council members and some of their successors.
Florida Lawmakers Reeling Up Billion-Dollar Tax Breaks For Film and TV Industries
Less than a week after a measure was introduced in the House to provide $1 billion in tax credit to film and television production efforts in Florida, the Senate Commerce and Tourism Committee released a proposal that offers $300 million in tax credits.
Another Tax Cut for Business: Putnam Proposes Reducing Electricity Sales Levy By Half
By phasing in the reduction from 7 percent to 3.5 percent, the impact to state revenue should be a reduction of about $85 million the first year, and an additional $70 million in each of the two following years. Residential customers would see no tax cut.
In Latest Re-Election Ploy, Scott Proposes 10-Day Sales Tax Holiday, Triple the Usual Length
Scott announced Friday he wants lawmakers to approve a 10-day sales tax holiday in August. The extended tax-free period is the latest of the budget proposals Scott has rolled out in advance of the 2014 legislative session.
Solar Panel Users as Freeloaders: ALEC Network’s State Lobbyists Attack Homeowner and Business Subsidies
According to the American Legislative Exchange Council, a conservative network better known as ALEC, our solar panels make us “free riders.” What? Yes, according to ALEC, an organization that specializes in getting the right-wing agenda written into state laws, people like me who invest in energy-efficiency and shrinking our carbon footprints ought to be penalized, writes Isaiah J. Poole.
Extra State Revenue Could Top $1 Billion As Legislature Approaches Spring Session
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.
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.
A Tiff, and Broader Implications, In County’s Hope of Eliminating Voter Voice in Economic Development
In a reflection of government-backed economic development’s dim luster, Flagler County want to eliminate voters’ role in giving local governments authority to extend tax breaks to companies. That proposal led to a clash Monday between government critic Dennis McDonald and Commissioner Barbara Revels.
Sen. Dorothy Hukill Proposes Cutting Sales Tax on Commercial Rental Property to 5%
Senate Finance and Tax Chairwoman Dorothy Hukill of Port Orange’s proposal could cut $250 million a year from state revenue. Business leaders want the tax, currently at 6%, eliminated altogether as Gov. Rick Scott travels the state on a tax-cutting tour.
Lawmakers File Bill to Prohibit Red-Light Cameras in Florida as Palm Coast Snaps On
GOP Sen. Jeff Brandes blames red-light cameras “as backdoor tax increases,” but the Palm Coast City Council Tuesday reasserted its commitment to its 43 cameras even as they siphon out more than $3 million a year from the local economy–in taxes to state government, and in revenue to ATS, the Arizona-based company that runs the system.
Back-to-School Tax Holiday Now Includes Computers, Tablets and Electronic Gadgetry
Florida’s back-to-school tax holiday Aug. 2 through Aug. 4 for the first time includes high-tech computer and other electronics as long as each individual item is priced under $750. Retailers are preparing for the demand, in some cases lowering prices to match the benchmark.
Facing Mandatory Spending, County May Raise Taxes by Nearly $100 for Median Home
In previous years, tax rate increases didn’t mean much because they were either entirely or more than offset by decreases in property values. The end result was lower tax bills for most, even as tax rates went up. That’s over. And tax rates are set to go up in every city, too.
A “Nasty” Government Building Highlights County’s Priorities as Budget Spells Higher Taxes
An unclear Government Services Building and what it costs to maintain it properly was emblematic of the Flagler County Commission’s budget discussion this morning, as the government faces at least a $3.3 million gap, or more, if it hires an extra custodian, no new revenue, and the likelihood of higher taxes.
Florida Loses Out on Amazon Deal, and Up to 3,000 Jobs, Over Sales Tax Fumes
In a statement issued Thursday, Gov. Rick Scott’s administration implied that if Amazon were to locate in Florida and begin collecting taxes, that would amount to a tax increase on Florida residents who use the popular shopping portal.
Speculative Bust: How Widening Old Kings Road Left Palm Coast on Hook for $6.7 Million
Palm Coast borrowed millions from its own utility fund to complete the Old Kings Road widening on the assumption that the economy would pick up and enable the city to re-finance with bonds. That never happened. Now the city is looking to recoup its money from property owners along the road, who’d agreed to a special taxing district but with optimistic assumptions of their own that never panned out.
Ending 3rd Budget Drag-Out in 8 Days, School Board Settles on $1.8 Million in Cuts
After 13 hours of at times harrowing debate, the Flagler County School Board by Tuesday evening settled on $1.8 million in cuts, sparing most programs but not Everest alternative school. The cuts will be restored should voters approve a tax referendum on June 7.
Its Value $26 Million in the Hole, Bunnell Rethinks Downtown Redevelopment Zone
Bunnell established its 800-acre downtown redevelopment zone in 2007, assuming that most tax revenue generated there could then be reinvested in the area to reinvigorate it. Instead, property values fell $26 million in the zone, forcing the city to rethink the CRA’s viability.
Closing Schools a Possibility With or Without Referendum as District Closes Budget Gap
The Flagler County School Board found the $1.8 million in cuts it needed to balance its books Thursday, but was also told that closing Indian Trails Middle, Wadsworth Elementary or Old Kings Elementary may become necessary by 2014-15 if enrollment declines persist.
Flagler County’s Budget Outlook Adds Up To $8 Million Gap and Likely Tax Increase
It’s difficult to see how Flagler commissioners will emerge from the budget process in September without either a substantial tax increase of one type or another or vast cuts in county services, though they began taking on sacred cows, such as consolidating fire departments.
Flagler School District Hones Its Sales Pitch for New Tax Ahead of June 7 Referendum
The Flagler school district is campaigning for the June 7 referendum on a new property tax for schools with a “You Decide” approach that emphasizes restoring time to the school day and reinforcing school security in spite of cuts in state funding.
Online Sales Tax On Its Way, But Phone, Cable and Web Service Taxes Would Be Cut
The measure would offset the increased revenue brought in by the measure by lowering other taxes, including the communications services tax charged on phone service, cable, and satellite TV and internet connections.
Sports Welfare’s Engines: Lawmakers Prep $60-Million Tax Break to Daytona Speedway
A measure that could land more than $60 million in sales tax rebates for the Daytona International speedway was unanimously supported by the Senate Commerce and Tourism Committee on Monday, allegedly to keep the speedway “relevant.”
1.7 Million Floridians Could Get Lower Premiums Under Obamacare, But Don’t Know It
The premium assistance, which begins Jan. 1, will come in the form of tax credits for low- and middle-income workers and their families. The money will flow directly to the patients’ health plans, which simplifies matters and means patients don’t have to come up with cash and wait for reimbursement.
Florida Legislators Have $3.5 Billion More To Play With This Year Than Last
Forecasters added $153 million in tax revenues in the budget year that ends June 30, and $106.5 million for the year that begins July 1. Even taking into account likely policy decisions and budget increases, the state could have a surplus of $1.1 billion.
Risks, Cautions, But Mostly Needs as Flagler School Board Readies for Tax Referendum
The Flagler County School Board Tuesday evening will approve going to a tax referendum in June, asking voters to increase their property taxes modestly to preserve programs and add security in schools, but the proposal doesn’t have the unanimity two similar proposals had in the last three years.
Flagler School District Will Propose New Tax, Citing Costly Security Needs and Programs
The school board voted 4-1 to ask voters to approve doubling an existing critical-needs levy, to 50 cents per $1,000 in assessed property value–a decision Board Chairman Andy Dance opposed for being too large, citing “school-funding fatigue” among voters.
Appeal Court Rejects Taxing Online Travel Bookings, a Blow to Flagler and Other Counties
The 1st District Court of Appeal, in a 2-1 ruling, said companies such as Expedia and Orbitz cannot be forced to pay local tourist-development taxes on part of the money they collect from customers. The majority found that the disputed amounts relate to reservation charges — not to the actual amounts paid to rent hotel rooms — and described the companies as “conduits.”
Online Booking Companies’ Tax Evasion Fleeces Flagler Tourism and Florida Dues
Online booking companies like Expedia and Hotels.com are short-changing Flagler and Florida of millions of dollars in sales and bed taxes, and unfairly competing with local hotels, argues Milissa Holland, yet the Legislature is looking to give those companies more tax breaks. It’s not the way to go.
Palm Coast Water and Sewer Rates Set to Rise Up to 22% Over the Next Three Years
The Palm Coast City Council prides itself on keeping property taxes low, but its array of fees continue to increase steeply, as will utility rates if the council approves a debt refinancing plan that would let the city borrow another $15 million for utility improvements, even though growth in the city has slowed to a drip.
Amendment 3: A Fight Between Capping Taxes and Funding Government Responsibly
Amendment 3 before Florida voters on the November ballot would tighten the state’s rarely-used revenue cap, potentially giving it more teeth – something supporters say will restrain reckless spending but opponents say would gut vital services.
After Ridiculing County’s Sales Tax Revenue Compromise, Palm Coast Now Wants to Deal
In a turn-around stunning for its audacity, the Palm Coast City Council Tuesday agreed to ask the county commission to revive a compromise the commission had proposed on sharing sales tax revenue–a proposal Palm Coast rejected derisively over the summer.
Flagler Beach Kills Discussion on Amendment 4 as Property Tax Measure Divides Politicians
The quick death of the discussion item is a reflection of the polarizing effects of Amendment 4, which has ardent anti-tax advocates–including politicians elected on limited government platforms–rallying around it while some local government representatives strain to explain how it would short-change revenue.
Snubbing Voters, Lame-Duck County Enacts 20-Year Sales Tax While Slashing Cities’ Shares
Many questions remained unanswered about the use of the money and the size of the proposed jail it’s supposed to pay for as the Flagler County Commission voted 4-1 to enact a sales tax it feared the public would not have approved at the ballot box this November.
As Expected, Flagler County Suspends $1,707-a-Home Building Tax for 2 Years
The county’s moratorium is relatively small, but Flagler’s chamber of commerce and its home builders association hope to get the school board to approve a moratorium next, then move to Palm Coast, where impact fees add up to $15,270.
Palm Coast Mayor Netts Says Amendment 4 Takes Taxes From “Screwy” to “Screwier”
Other Flagler government leaders joined Jon Netts in criticism of of proposed Constitutional Amendment 4, which would limit the tax liability of commercial, rental and vacant properties while lowering the tax liability of first-time home-buyers, but at the expense of local government revenue, which has been battered since 2007.
Property Tax Amendments on November 6 Ballot Would Cut Local Revenue Further
Florida voters in November will face a flurry of proposed amendments to reduce property tax levies for groups ranging from first-time homebuyers to disabled veterans, while preventing increases on those whose homes lose value.
Despite County’s Spike, Most Flagler and City Homeowners’ Tax Bills Will Fall in 2013
It’s been a familiar and recurring complaint, but also an inaccurate one: that property taxes keep going up. They don’t. For most people, property taxes fell this year. And for most people, property taxes will either stay flat or fall again in 2013. Here are the city-by-city details.
Palm Coast Stormwater Fees Going Up 46%, Taxes Stay Level, Most Infrastructure Neglected
With the Palm Coast City Council’s refusal to raise property taxes , the city’s infrastructure will continue to deteriorate, Mayor Jon Netts and the city administration warned. But a majority of council members, led by Frank Meeker–who’s running for a county commission seat–refused to budge.
Paul Ryan’s Budget: The CBO Analysis
The non-partisan Congressional Budget Office produced a 17-page analysis of the budget Congressman Paul Ryan submitted in 2012. The full analysis is presented.