Friday, February 23, 2007

New tax proposal...Fair or not??

GOP leaders Wednesday unveiled a two-part plan that includes a proposed state constitutional amendment that would abolish taxes on homestead property – primary homes – while increasing the state’s sales tax from 6 percent to 8.5 percent. The increase would go to local governments to partly offset property tax losses.

This puts a larger burden on renter's but only by 23 cents more per $100 spent. If you spend $21,000 per year on goods and services the increased tax amount is $47.00

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