Monday, May 29, 2006

the skinny on property tax

This week we are studying conference committee reports on property tax relief. I am pleasantly surprised of the outcome.
What to like:
-removes school operating expenses on your home (about 2/3)
-requires 2/3 vote of the legislature to add this tax back on your home
-reduces sales tax on food to 3 cents
-gives 2 sales tax holidays (on everything) after Thanksgiving
What to not like:
-leaves local & school bond property taxes on your home
-taxes on cars and commercial property remain
-raises sales tax by 1 cent
Sen. Jim Ritchie (R-Spartanburg) is a key participant on the conference committee. If you read my bleak postings during the property tax debate, you'll see that I did not expect this outcome, so I stand corrected.