TALLAHASSEE, Fla. – Lawmakers delivered a more than $400 million tax cut this year, but residents shouldn't be surprised if they do not exactly feeling the savings.
The property tax hike that many Floridians will be hit with helps boost the state's education budget to a record $19.7 billion.
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State residents are in line to save some money this year. While that's definitely true in some areas, it isn't necessarily so in other areas.
Every end of the state is in line to see some sort of hike this year. Tolls went up, state-run Citizens Insurance is seeking a rate increase and local property taxes are going up to boost school funding. The property tax hike is more than $400 million, which basically cancels out the tax cut.
"What I'd be excited about is that we've cut taxes 50 times," Gov. Rick Scott said when asked about the rising costs. "Last year, $500 million, this year, over $400 million. We've cut regulation. We have more jobs in our state. We've added 879,000 jobs in a little over four years."
Health care premiums will also cost more.
"Obamacare is a disaster," Scott said. "That's why health insurance premiums are going up. I've got a commission now looking at health care financing, hospital costs."
But for people who own a cellphone, there's good news. They will save about $1.50 a month on their bill.