May 20, 2024
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Making Cents
Where does Florida's government get its money?
Amy Keller | 10/27/2021
With no state income tax — the state constitution forbids it — Florida’s state government generates the bulk of general revenue (75% to 80% depending on the year) from sales tax collections. It gets the rest from a variety of sources, including documentary stamp taxes, insurance taxes and corporate income taxes. At the local level, the biggest two chunks of funding come from ad valorem/property taxes and charges for services (such as electricity, gas, garbage collections and building inspections). Counties can also levy up to 12 cents of local option fuel taxes.
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