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Finance Committee discusses second‑homes tax, possible new top bracket to attract professionals
Summary
Committee members discussed adjustments in the miscellaneous tax bill—including higher non‑homestead rates for second homes—and options to add or raise the top income bracket to remain competitive and retain professionals. Staff was asked to produce JFO revenue analysis.
Members of the Finance Committee spent substantial time on proposed tax‑code changes on everything from a second‑homes levy to whether to add a higher top bracket to make the state more competitive for professionals.
Committee member S1 told the panel the misc. tax bill will include a second‑homes tax adjustment and potential rate changes for non‑homestead residential properties. "I think the biggest thing we're gonna do is we have passed the second homes tax, and that will be coming over to us... and that would be an adjustment of those rates," S1…
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