Jim’s Daily Rant. Florida Kicks County Property Taxes on Homes Elimination Can Down The Road.
- Jim Costa
- 59 minutes ago
- 2 min read
Yesterday Florida passed a Resolution that will be a referendum in the November 26 Voting that if passed will eliminate all Property Taxes on homes, except School Board Taxes.
This is my explanation. I have explained this before but will quickly cover it again.
Our Federal and constitution forbids taxes on property. After 1871 School Boards pushed their luck by taxing Homes for education expenses. No one complained.
Over time, past 30 years, they got greedy. They floated Bond Issues and never retired those bonds, they just continue paying the interest on them. Most of those bonks are held by pension funds. It has become a giant Ponzi scheme, in my opinion.
Each year as the bond interest got ever more expensive, that giant growth was added to the regular school expenses hoping no one would notice. Thus each years budget was growing at exponential rates.In order to hide the fraud, County Property Appraisers raised the Assessed property values at a predetermined rate for the School Board Taxes to work for another year. That is why we have Million Dollar houses today. It is not because of the demand for them.
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Allow me to explain it a different way. I grew up learning about our world by never missing an issue of Mad Magazine. One issue focused on Finner’s Fenagaline Formula. It is defined as:
“The number added to, subtracted from, Multiplied by or divided by, the right answer, using Finner’s Fenagaline Formula, to give you your desired answer.”
Source: My memorization
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The entire country has a giant bubble because school boards and Counties floated bonds for subdivision construction in which the profited by issuance up front of those bonds. Those bonds are also never paid off. Again, Ponzi schemes.
The Florida Legislation cannot let the cat out of the bag but wants to tell us folks the told us just before it all blows up. Therefore, the people will vote for it in November 2026 and then it will go into effect in a few years. At that time Pension funds will fail and the entire gig will be up.
Therefore, it must collapse very soon Folks. Probably before November as by then people will understand.
