Floridians will save around $400 million annually
Governor Rick Scott today announced that around $400 million in tax and fee cuts in the “It’s Your Money Tax Cut Agenda” will go directly to Florida families by rolling back motor vehicle taxes and fees to pre-2009 levels. In 2009, Floridians experienced significant increases in various taxes related to the annual registration of motor vehicles, increasing the cost of registering a typical motor vehicle by an average of 54 percent.
Governor Scott said, “I have one message today for every Florida family: We are going to undo the 54% tax increase you saw in 2009 to register your motor vehicles. This means around $400 million annually will be given back to Florida families. This has never been government’s money – it’s your money – and I look forward to working with the Florida legislature to return it back to you. We want to create an opportunity economy in Florida, and letting people keep more of the money they make means families have more money to invest in their future. We want to create an economy that supports job creation for generations to come.”
As a result of the 2009 tax increases, the cost of registering a typical automobile for Floridians increased from an estimated $46.80 to $71.85 every year. Combined with increases in driver license fees and various service charges, the increases translated to state revenues of over $1 billion, which were directed primarily to General Revenue.
Governor Scott’s proposed tax/fee automobile roll back would offer relief to the millions of taxpayers who pay these taxes/fees on over 13 million annual registrations each year, returning automobile taxes/fees to pre-2009 levels effective September 2014. On average, families will see registration costs drop from about $71 today to $46 next September. That is an average decrease in costs of about $25 for Florida families.
Click here to read the Governor’s “It’s Your Money Tax Cut Agenda.”