Thursday, September 29, 2011

Need proof that Fla. home sales are up?

WASHINGTON – Sept. 28, 2011 – The value of home sales in Florida has gone up. For proof, look no further than doc stamp taxes, which are paid on all home sales. According to U.S. Census Bureau reports, doc stamp revenue rose 9.8% in the second quarter of 2011 compared to the same quarter in 2010.

Other state taxes also rose, the U.S. Census Bureau reported Tuesday as part of a national study that showed continued revenue gains nationwide.

Florida sales tax collections climbed 5.4 percent; Florida corporate income tax collections rose 5.4 percent year to year for the quarter ending June 30.

Nationally, corporate income tax collections shot up 20.4 percent while sales tax increases increased by 4.7 percent. Income tax collections were 16.3 percent higher in the quarter compared to 2010.

Stagnant property values continued to take a toll, however. Nationally, local governments collected $85.9 billion of total property tax revenue, a decrease of 1.0 percent from the same quarter in 2010.


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