JMI Policy Director Bob Sanchez quoted in Sarasota Herald-Tribune article “Property tax rates seem to have little effect on local economies” regarding statistical study of Florida’s 67 counties testing correlation between property tax rate and business activity as reflected in gross sales.Excerpt:
“. . .Though the Herald-Tribune’s analysis found no correlation, that does not disprove that tax cuts spur economic activity, said Robert Sanchez, policy director at the James Madison Institute, a conservative Tallahassee-based think tank.The fact that you weren’t able to discern a pattern doesn’t disprove the idea,” Sanchez said, noting that several factors might mask the effect that local tax rates would have on business.For example, the rebound in Florida’s tourism industry is driven by things unrelated to tax rates, like the general economy, a weak dollar prompting an influx of foreign tourists, and the amazing success of The Wizarding World of Harry Potter in Orlando. . .”
