Jesse Scheckner
Florida motorists could save some cash through a provision Senators added to a state tax package up for consideration this week.
SPB 7034, which the Senate Finance and Tax Committee is scheduled to review Tuesday, includes a one-year, one-time credit for the annual license tax and select fees for motor vehicle registrations.
The credit would apply to existing registrations and new ones established before Oct. 10, 2027, so that even Floridians who bought two-year registrations can avail themselves of the savings.
Registration renewal fees range from $5 for mopeds and $10 for motorcycles to $1,322 for heavy trucks of 72,000 or more pounds, according to the Department of Highway Safety and Motor Vehicles.
The initial vehicle registration fee is $225. For cars, renewal costs $14.50 to $32.50, depending on weight.
Detailed on page 88 of the 95-page measure, the vehicle registration fee credit is part of what Senate President Ben Albritton called an “‘all of the above’ approach to broad-based tax relief.”
Other consumer-friendly aspects of SPB 7034 include a permanent end to sales tax on most clothes and shoes, new and extended tax holidays and the first steps toward eliminating property taxes on homesteads.
“We are creating permanent tax relief on essential items needed by families and seniors and targeting sales tax holidays Floridians use when they’re planning to purchase specific items,” he said.
“This level of both permanent and one-time sales tax relief is sustainable for the long term and leaves room in our balanced budget for the voters to consider meaningful property tax relief on the ballot at an upcoming General Election, as our state continues to save for the future, pay off debt, cut spending, and improve efficiency.”
SPB 7034 is estimated to reduce state revenues by $2.12 billion, though most of its cuts are nonrecurring.
A unanimously passed House proposal to slash state sales taxes from 6% to 5.25% would have an estimated $5.4 billion financial impact at the state and local levels. That measure (HB 7031) now awaits upper-chamber consideration.
