April 29, 2024
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Small Business
Tax Squeeze
Amy Keller | 6/1/2007
Thirty-five percent of Florida small-business owners are considering reducing staff or benefits in the face of rising property taxes, according to a poll by the National Federation of Independent Business. Another 14% of respondents said they might close their business in the near future, while 15% said they are pondering relocating out of state. Other poll results:
- 39% of respondents are thinking about postponing expansion.
- 81% said they believe high commercial property taxes are a threat to their business.
- Asked how they were coping with the tax increases, 42% have increased prices, 16% have reduced benefits and 21% have reduced staff.
- 34% said last year's property tax increase was greater than 20%.
