Today’s entry: One thing I’ve had a hard time doing while researching local political candidates is figuring out where they stand on local taxes, especially property taxes. I wish more candidate interviews included those questions. What I’d like to know from you is how much we’re paying in local taxes compared to federal taxes.
Bottom Line: I hear your point regarding wanting more transparency with local taxation. It’s a good thought but don’t be afraid to pick up the phone and call the candidates/campaigns and ask for yourself. That’s an often-overlooked opportunity which can provide the best answers for your specific concerns to be addressed.
As for how much we’re paying in Florida compared to outside of it. Because we’re in the 2020 tax season right now, the most recent info is based on the 2019 tax year. Using Census and IRS data the median household income in Florida in 2019 was a record $59,227. For this next breakout I’m specifically using data from the tri-county where we have higher than average local taxes. The average household in South Florida paid $4,038 in local taxes. That’s about $430 higher than the state average.
As for federal taxes, the average Florida household paid a total of $8,267 in federal taxes. That included $3,736 in federal incomes taxes and $4,531 in FICA (Social Security and Medicare). Put the whole ball of wax together and our total household tax burden was $12,820. Of the total tax burden, 64% of the taxes we pay in South Florida are federal with 36% imposed at the state and local level.
According to analysis from the Tax Foundation, the average Floridian’s total tax burden was the 6th lowest nationally. This topic serves as a good reminder of what we’re already paying in taxes as many go to vote today for people who’ll make local taxing decisions going forward.
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Parler & Twitter:@brianmuddradio
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