OrlandoSentinel: Jeb Bush enjoys sweet ride of booming real estate taxes

[seafan]

Published February 5, 2006

Jeb Bush enjoys sweet ride of booming real estate taxes

Once a millionaire real estate developer, Gov. Jeb Bush is now profiting politically from Florida's housing boom with his whopping $70.8 billion budget proposal that's moored to a bounty of new tax receipts.
Before becoming governor, Bush made his fortune buying and selling commercial projects in partnership with developer Armando Codina.
Now, heading toward the exit in his eighth year as governor, Bush is polishing his political legacy by spending freely on schools, the environment and social programs, while still dishing out a record $1.5 billion in tax breaks.

A look inside the numbers shows much of the black ink is rooted in Florida's soil.

Revenue from real-estate taxes will skyrocket to $3.5 billion this year -- a remarkable 300 percent increase since Bush left the development business for the governor's mansion in 1999.
At least one state economist has likened these levies in recent years to the "golden goose" of fairy tales but conceded the analogy falls short. Perhaps the better animal to compare it with would be the proverbial 600-pound gorilla.


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For Bush, who entered office as a fiscal conservative, the latest budget recommendation is roughly double what he first proposed in 1999.

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Bush's plan includes a $570 million cut in property taxes. Most homeowners will pocket this cash when those bills make their annual arrival in November -- the same time voters will be choosing Bush's successor.
Could Bush be hoping the handout will prompt Florida voters to assure the next occupant of the governor's mansion also is a Republican?

http://www.orlandosentinel.com/news/local/state/orl-capview0506feb05,0,5982351.column?coll=orl-news-headlines-state

[HockeyMom]

1. Husband's Condo

He just got hit with a a quarterly assessment of $1,500 on repairs for Wilma from the Association. Think any tax cut is going to equal that?

[seafan]

2. Insane, isn't it? Also see this link:

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=145x6441