Tax or consequences, part 33⅓

I've become more and more disgusted with the GOP plans to cut taxes in Florida, because I strongly believe that they either don't know or, more likely, don't care what the consequences of those cuts are. Here at Blast Off!, we've looked at the effect the revenue cuts will have on municipalities and universities as well as some of the more esoteric yet damaging results on other agencies in the state.

Tonight, let's focus on the property tax cuts that will be on the ballot in America's Wang™ in January. I think the headline in this morning's Sun-Sentinel says it all: "New tax break would help most, but don't expect a fortune."

Of course, what the headline means by "help" and what I would define as "help" might be two different things.

A South Florida Sun-Sentinel analysis showed that 63 percent of those who own a primary residence in Palm Beach County would benefit, which is more than the 52 percent legislative analysts had predicted. However, the average savings is far less — $1,212 — than the Legislature estimated, the Sun-Sentinel found. State analysts said the average savings would top $2,000 in the first year.

Among the potential beneficiaries of the new, bulked-up homestead exemption, about one in three — 76,891 homeowners — would pocket less than $500 in savings the first year, the Sun-Sentinel analysis of tax data showed.

Even homeowners who benefit should be wary about embracing the new exemption, experts say, because there would be no cap to protect them from dramatic jumps in real estate taxes such as with Save Our Homes.

"The taxes are going to go up over the long run," said Chris Bender of Wellington, an engineer who would save $1,267 on his initial tax bill on his $463,000 home in the Village Walk development. But he said he prefers Save Our Homes because of the 3 percent cap on yearly tax value increases.

"Sure, I stand to save money, but in the long run, I pay more and it's bad for the economy. I don't know how it got through."

The "super exemption" is the centerpiece of a package Gov. Charlie Crist and the Legislature tout as the largest tax cut in Florida's history.

Now, it's true that if the proposal passes, homeowners will be able to choose between the new program and the Save Our Homes program. But the real cost of the program is, once again, the cuts to services that Floridians expect to receive, but won't because of the ever-diminishing state coffers.

It's a shame that our leaders don't understand. I'll bet the 45 people laid off by the city of Boca Raton last week understand. Sadly, more Floridians will understand -- and suffer -- if the Republicans get their way.