There is more ways to increase revenue than just amending the 3% cap. PB can enter into an inter-local agreement with the County to implement a 1% sales surtax designated for infrastructure ONLY! PB does have enough retail business to make a difference such as Walmart, Home Depot, Lowes, Southeast Honda, Giant RV World, Ace Hardware, Office Depot, numerous Dollar General stores etc. Another revenue source is implementing a business license fee on all Corporate & LLC, and multi owned property rentals. So much money is being left on the table. We need creative minds leading our City!
I was a huge supporter of the 3% cap (both times). You've hit on an important point. When the 3% cap was put in place nobody could have envisioned huge developments of single family homes being built as rentals, and not homesteads. I think that amending the cap to be only for homestead properties would actually reflect the original intent of the 3% cap.
As long as the homesteaders properties are protected, I don't have a problem with the amended cap. I still think the other avenues of revenue as the surtax & business license for corporate rentals are just as lucrative. Especially the surtax.
Adding a 1% surtax to a purchase does not bring hardship to anyone. Those that have more money, spend more money. Those that have less, spend less. When I shop at Kohl's, Target, Academy Sports etc, I don't even realize the extra surtax being charged in favor of West Melbourne City Government, nor do care. West Melbourne is debt free because they think out of the box. Their millage rate is less than 2mils.
There is more ways to increase revenue than just amending the 3% cap. PB can enter into an inter-local agreement with the County to implement a 1% sales surtax designated for infrastructure ONLY! PB does have enough retail business to make a difference such as Walmart, Home Depot, Lowes, Southeast Honda, Giant RV World, Ace Hardware, Office Depot, numerous Dollar General stores etc. Another revenue source is implementing a business license fee on all Corporate & LLC, and multi owned property rentals. So much money is being left on the table. We need creative minds leading our City!
I was a huge supporter of the 3% cap (both times). You've hit on an important point. When the 3% cap was put in place nobody could have envisioned huge developments of single family homes being built as rentals, and not homesteads. I think that amending the cap to be only for homestead properties would actually reflect the original intent of the 3% cap.
As long as the homesteaders properties are protected, I don't have a problem with the amended cap. I still think the other avenues of revenue as the surtax & business license for corporate rentals are just as lucrative. Especially the surtax.
Any taxation to the businesses and rental properties will be passed on to the consumer
Adding a 1% surtax to a purchase does not bring hardship to anyone. Those that have more money, spend more money. Those that have less, spend less. When I shop at Kohl's, Target, Academy Sports etc, I don't even realize the extra surtax being charged in favor of West Melbourne City Government, nor do care. West Melbourne is debt free because they think out of the box. Their millage rate is less than 2mils.