Floridians could spend less on auto registration fees in 2014 through a new proposal introduced today by the House Finance & Tax Subcommittee.
If passed, the cost reductions would take effect on September 1, 2014.
“This year, the Florida House is planning to offer significant tax cuts that will allow families to keep more of their hard-earned dollars,” said Rep. Ritch Workman, chair of the House Finance & Tax Committee. “Reducing the fees associated with registering a car will help make owning a car more affordable for everyone.”
PCB FTSC 14-04 significantly cuts taxes, fees, and surcharges that Florida drivers pay for motor vehicle registrations —an estimated reduction of $25.05 for heavy weight vehicles, $21.55 for medium weight vehicles, and $18.55 for light weight vehicles.
The proposal would save taxpayers $309 million in the 2014-15 fiscal year, and as much as $395 million every year afterwards.
The legislation — the largest tax and fee reduction of its kind in over a decade — is part of an ambitious $500 million in tax and fee cuts that became the top priority of Work Plan 2014, introduced in January by House Speaker Will Weatherford and Senate President Don Gaetz.